Sempreon, Inc. (CASK) news reflects the company's transition from MGP Ingredients to a new corporate identity on Nasdaq, plus updates from its Branded Spirits, Distilling Solutions and Ingredient Solutions businesses.
Company news can include quarterly results, dividends, business updates, name and ticker changes, credit agreement disclosures, annual meeting results and leadership appointments, all of which have appeared in company releases or SEC current reports under the MGP/Sempreon identity.
Product and brand coverage is also a major theme. Releases have covered bourbon, tequila and whiskey brands such as Penelope Bourbon, Yellowstone Bourbon, Rebel Bourbon, Remus Bourbon, El Mayor Tequila, Exotico Tequila and MGP-branded whiskey, along with distilling and ingredient solutions updates.
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Lux Row Distillers, under master distiller John Rempe, announces the release of Blood Oath Pact 9 Kentucky Straight Bourbon Whiskey finished in Oloroso Sherry casks. This limited edition features a supply of 17,000 (3-pack) cases, launching at a suggested retail price of $129.99 per 750 ml bottle. The bourbon is crafted from a blend of extra-aged bourbons, including a 16-year and a 12-year ryed bourbon, along with a 7-year ryed bourbon. The Oloroso Sherry cask finish imparts unique flavors and aromas, including notes of sweet sherry, ripe fruits, and chocolate. A total of 51,000 bottles will be allocated, with some reserved for a future Trilogy Pack release in 2024.
MGP Ingredients, Inc. (Nasdaq:MGPI), a prominent player in distilled and branded spirits, has scheduled a conference call/webcast for May 4, 2023, at 10 a.m. ET to discuss its financial results for Q1 2023. The financial results will be released before the market opens that day. Key management participating in the call includes David Colo, president and CEO, and Brandon Gall, vice president of finance and CFO. Investors can access the call via a dedicated webcast or conference call numbers provided in the release. MGP Ingredients, established in 1941, operates distilleries in Kentucky, Indiana, and Kansas, producing a diverse range of spirits from bourbon to vodka. The company is also known for its food ingredient solutions, offering specialty proteins and starches for various applications. For more details, visit their investor relations website.
Lux Row Distillers has launched Rebel 100 Straight Rye Whiskey, enhancing the Rebel brand portfolio. Set to retail at $19.99 per 750 ml bottle, the new whiskey features a mash bill of 51% rye, 45% corn, and 4% malt with 100 proof. Rebel 100 Rye promises a smooth, spicy flavor profile, echoing the success of its bourbon counterpart. Brand manager Eric Winter stated that this variant amplifies the taste experience, ideal for classic cocktails. Lux Row Distillers operates under MGP Ingredients, Inc. (NASDAQ: MGPI), showcasing an extensive range of award-winning spirits.
MGP Ingredients, Inc. (Nasdaq:MGPI) reported strong financial results for Q4 and the full year 2022, with consolidated sales rising 25% year-over-year to $782.4 million. Q4 sales grew 15% to $191 million, while gross profit increased 20% to $63.2 million. However, operating income fell 34% due to a prior favorable insurance recovery. Adjusted net income for 2022 reached $108.9 million, up 20%. The company projected 2023 sales between $815 million and $835 million, with adjusted EBITDA expectations of $178 million to $183 million. The growth reflects success in premium spirits and specialty ingredients.
MGP Ingredients, Inc. (Nasdaq: MGPI) declared a quarterly dividend of $0.12 per share, payable on March 24, 2023, to stockholders of record as of March 10, 2023. The company, a leading provider in distilled and branded spirits, has a strong presence in the U.S. with operations in multiple states, including Kentucky and Indiana. MGP caters to a diverse clientele, producing premium spirits and offering ingredient solutions. Their continued commitment to excellence is evident in their extensive product range and strategic growth initiatives.