Mgp Ingredients Inc Stock Price, News & Analysis

MGP Ingredients (Nasdaq:MGPI) reported impressive Q1 2022 results, with consolidated sales soaring by 80.2% to $195.2 million. This growth was fueled by a 37.7% increase in premium beverage alcohol sales and a substantial 144.3% rise in operating income to $50.1 million. Net income also climbed 142.2% to $37.4 million, while adjusted EBITDA surged 115.2% to $55.4 million. The company anticipates 2022 sales between $690 million and $715 million and adjusted EBITDA in the range of $150 million to $157 million.

MGP Ingredients, Inc. (Nasdaq: MGPI) has declared a quarterly dividend of $0.12 per share of common stock, payable on June 3, 2022. This dividend will benefit stockholders of record as of May 20, 2022. The company is known for its premium distilled spirits and food ingredient solutions, with a rich history dating back to 1941. MGP operates multiple distilleries across the U.S. and offers a diverse product range including whiskey and vodka. The announcement reflects the company's commitment to returning value to shareholders.

Luxco has launched Alias Straight Rye Whiskey, distilled at its Ross & Squibb Distillery in Lawrenceburg, Indiana. Bottled at 90 proof (45% ABV), it features a mash bill of 51% rye, 45% corn, and 4% barley malt, promising tasting notes of sweet fruit and rye spice. As rye whiskey enjoys increasing popularity, this product aims to capture a growing market. A write-in contest will be held, offering a six-day distiller course at Moonshine University as a prize. Luxco, merged with MGP Ingredients (MGPI) in 2021, manages numerous well-known brands.

MGP Ingredients, Inc. (Nasdaq: MGPI) announced a conference call/webcast to discuss its first-quarter financial results for the period ending March 31, 2022. The call is scheduled for May 5, 2022, at 10 a.m. ET, with results anticipated before the market opens. Presenters will include CEO David Colo and CFO Brandon Gall. The call can be accessed via webcast on their website or by conference call. MGP, a major player in distilled and branded spirits, also provides food ingredient solutions and operates multiple distilleries across the U.S.

Lux Row Distillers is set to release Blood Oath Pact 8, a Kentucky Straight Bourbon Whiskey finished in Calvados casks, this April. Limited to 17,000 cases, each 750 ml bottle is priced at $119.99. This unique bourbon features a blend of aged ryed bourbons, including 14-year and 11-year-old options, and promises distinct tasting notes of apples, pears, and butterscotch. The release includes 51,000 bottles, with 1,400 reserved for a future Trilogy Pack. Lux Row is part of MGP Ingredients, Inc. (NASDAQ: MGPI).

MGP Ingredients, Inc. (Nasdaq:MGPI) reported strong financial results for 2021, with consolidated sales up 58.5% year-over-year, totaling $626.7 million. The fourth-quarter sales rose 65.3% to $166.8 million. Gross profit for the full year increased 101.4% to $199.0 million. Operating income surged 133.0%, reaching $126.4 million. Fully diluted EPS improved to $4.34 from $2.37 in 2020. Looking ahead, MGP expects sales in 2022 to reach $690 million to $715 million and plans $33 million in expansion projects.

MGP Ingredients, Inc. (Nasdaq: MGPI) has declared a quarterly dividend of $0.12 per share, payable on March 25, 2022 to shareholders on record as of March 11, 2022. This demonstrates MGP's strong commitment to returning value to its shareholders. MGP is a prominent player in the distilled spirits and food ingredient sectors, operating multiple U.S. distilleries. The company's recent focus on integrating Luxco, Inc. aims to enhance operational efficiencies and product offerings.

MGP Ingredients (Nasdaq: MGPI) announced the construction of a new $16.7 million extrusion plant in Atchison, Kansas, to enhance in-house production of its ProTerra line of texturized proteins. Scheduled for completion by late 2023, the facility aims to produce up to 10 million pounds per year, addressing increasing demand and reducing reliance on co-packers. The plant's design is by 1 Solutions Group, which has partnered with MGP on previous projects. This investment is seen as a strategic move to gain more control over manufacturing and improve operational flexibility.

MGP Ingredients, Inc. (Nasdaq: MGPI) announced a $12 million expansion of its barrel warehouse to meet the rising demand for American whiskey. Located in Williamstown, Kentucky, this facility is set to enhance storage capacity and support sustainable growth. This is MGP's second major investment in distilled spirits recently, following a $4 million expansion of its Lux Row Distillers facility. Both projects aim to accommodate increased production, with expected completion by the end of 2022.