NASDAQ$MGPI
MGP Ingredients Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
MGP Ingredients reported strong Q2 performance, driven by premium plus branded spirits and brown goods sales, while reiterating full year guidance.
MGP Ingredients reported a decrease in sales by 9% to $190.8 million due to the Atchison distillery closure, but excluding this impact, sales increased by 7%. Net income was largely flat at $32.0 million, while adjusted EBITDA increased by 7% to $57.5 million. The company reiterated its full year sales, adjusted EBITDA, and EPS guidance.
- Sales decreased 9% to $190.8 million due to the Atchison distillery closure, but increased 7% excluding this impact.
- Net income was largely flat at $32.0 million, with a net income margin increase of 150 basis points to 16.8%.
- Adjusted EBITDA increased 7% to $57.5 million, with an adjusted EBITDA margin increase of 450 basis points to 30.2%.
- Adjusted basic EPS increased 15% to $1.71 per share from $1.49 per share.
Headline financials
Revenue & EPS history
MGP Ingredients · Revenue · Quarterly
$191M
Revenue by segment
MGP Ingredients · $212M total across 3 segments · Q3 2023
- Distilling Solutions$112M+3.0%52.9%
- Branded Spirits$66.8M+6.4%31.6%
- Ingredient Solutions$33M+10.9%15.6%
Forward guidance
MGP is confirming the following consolidated guidance for fiscal 2024: Sales are projected to be in the range of $742 million to $756 million, Adjusted EBITDA is expected to be in the range of $218 million to $222 million, Adjusted basic earnings per common share are forecasted to be in the $6.12 to $6.23 range.
Tailwinds
- Sales are projected to be in the range of $742 million to $756 million.
- Adjusted EBITDA is expected to be in the range of $218 million to $222 million.
- Adjusted basic earnings per common share are forecasted to be in the $6.12 to $6.23 range.
- Basic weighted average shares outstanding expected to be approximately 22.3 million at year end.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-0.7%
Avg return
Earnings day
-1.1%
Avg return
5 days after
-0.5%
Avg return
30 days after
58%
36 / 62 earnings
Positive
+15.7%
Q3 2017
Best reaction
-21.4%
Q1 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.2% | -5.8% | -12.8% | |
| Q4 2025 | -21.2% | -25.7% | -27.9% | |
| Q3 2025 | -1.9% | +0.6% | -7.6% | |
| Q1 2025 | +4.8% | +9.0% | -0.2% | |
| Q4 2024 | -1.1% | -0.4% | -10.3% | |
| Q3 2024 | -19.2% | -16.6% | -17.8% | |
| Q2 2024 | +4.4% | +0.7% | +9.9% | |
| Q1 2024 | +3.0% | +3.3% | -0.8% | |
| Q4 2023 | -13.2% | -14.4% | -9.3% | |
| Q3 2023 | +2.2% | +3.4% | -5.6% | |
| Q2 2023 | +6.6% | +8.0% | +5.6% | |
| Q1 2023 | +6.2% | +3.8% | +5.6% | |
| Q4 2022 | +8.4% | +5.5% | -1.8% | |
| Q3 2022 | +5.2% | +7.9% | +17.2% | |
| Q2 2022 | +6.9% | +5.0% | +3.6% | |
| Q1 2022 | +0.3% | -1.6% | +2.4% | |
| Q4 2021 | +2.0% | +2.3% | +11.8% | |
| Q3 2021 | +10.2% | +8.3% | +23.8% | |
| Q2 2021 | +14.6% | +14.8% | +16.1% | |
| Q1 2021 | +1.7% | +4.9% | +20.2% | |
| Q4 2020 | -8.0% | -7.0% | -12.2% | |
| Q3 2020 | +4.6% | +0.7% | +10.2% | |
| Q2 2020 | -6.5% | -6.6% | -6.5% | |
| Q1 2020 | -6.8% | -9.4% | -8.5% | |
| Q4 2019 | -10.4% | -5.9% | -16.1% | |
| Q3 2019 | -4.9% | -6.0% | -5.9% | |
| Q2 2019 | -18.6% | -18.6% | -28.3% | |
| Q1 2019 | -21.4% | -19.0% | -31.5% | |
| Q4 2018 | +5.3% | +5.0% | -0.8% | |
| Q3 2018 | -8.1% | -3.5% | -4.5% | |
| Q2 2018 | -5.6% | -4.7% | -4.4% | |
| Q1 2018 | -10.2% | -4.8% | -5.4% | |
| Q4 2017 | -1.4% | -9.5% | +6.8% | |
| Q3 2017 | +15.7% | +17.8% | +19.0% | |
| Q2 2017 | +2.9% | +2.0% | +0.8% | |
| Q1 2017 | +5.5% | +3.2% | -2.3% | |
| Q4 2016 | +10.3% | +14.1% | +17.9% | |
| Q3 2016 | +12.6% | +14.8% | +36.4% | |
| Q2 2016 | -19.1% | -19.9% | -4.4% | |
| Q1 2016 | +0.7% | — | — | |
| Q4 2015 | -17.2% | — | — | |
| Q3 2015 | +1.3% | — | — | |
| Q2 2015 | +10.4% | — | — | |
| Q1 2015 | +2.5% | — | — | |
| Q4 2014 | +0.4% | — | — | |
| Q3 2014 | -3.8% | — | — | |
| Q2 2014 | +8.6% | — | — | |
| Q1 2014 | +2.9% | — | — | |
| Q4 2013 | +1.2% | — | — | |
| Q3 2013 | -4.3% | — | — | |
| Q2 2013 | +5.0% | — | — | |
| Q1 2013 | -2.3% | — | — | |
| Q4 2012 | -4.6% | — | — | |
| Q3 2012 | +2.0% | — | — | |
| Q2 2012 | +6.7% | — | — | |
| Q3 2011 | -0.5% | — | — | |
| Q4 2009 | +2.8% | — | — | |
| Q4 2011 | +2.8% | — | — | |
| Q4 2010 | +2.8% | — | — | |
| Q1 2012 | +2.0% | — | — | |
| Q1 2011 | -8.2% | — | — | |
| Q1 2010 | -7.7% | — | — |
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