Mgp Ingredients Inc Stock Price, News & Analysis

MGP Ingredients (Nasdaq: MGPI) has declared a quarterly dividend of $0.12 per share. This dividend is payable on September 2, 2022, to stockholders of record as of August 19, 2022. MGP Ingredients is a major provider of distilled spirits and food ingredient solutions, with a wide range of brands in its portfolio, including bourbon, rye, gins, and vodkas. The company operates U.S. distilleries in multiple states and offers specialty proteins and starches for food products.

MGP Ingredients, Inc. (Nasdaq:MGPI) has announced a conference call/webcast to discuss its second-quarter financial results for 2022 on August 4 at 10 a.m. ET. The company will release its results before the market opens. Key management, including CEO David Colo and CFO Brandon Gall, will participate in the call. Investors can access the call via the company's investor relations website or through provided phone numbers. MGP is a prominent provider of distilled spirits and food ingredient solutions, with a rich portfolio and extensive operations across the U.S.

MGP Ingredients, Inc. (Nasdaq: MGPI) has appointed Sean Wirtz as the new Director of Business Development and Integration, a role aimed at enhancing M&A activity and organic growth initiatives. Wirtz previously served at KPMG LLP, providing strategic accounting and advisory services. The company plans to leverage Wirtz's expertise to identify and integrate opportunities aligned with its strategic goals, particularly in branded spirits and plant-based proteins. This strategic move is expected to optimize value for stakeholders while enhancing operational efficiencies.

Luxco announces the launch of El Mayor Extra Añejo Port Cask Aged, a limited-edition ultra-premium tequila, set to be available nationwide in July 2022. This exceptional tequila, distilled from 100% Blue Weber agave and aged for 42 months in port casks, features notes of dried fruit, oak, cinnamon, and dark chocolate. Only 6,000 bottles will be offered at a suggested retail price of $129.99 per 750-ml bottle. Chef Graciela González highlights its full-bodied profile and unique flavor, while brand manager Chelsi Hofmeister emphasizes the growing demand for ultra-premium tequila.

MGP Ingredients (Nasdaq:MGPI) reported a strong Q1 2022, with consolidated sales rising 80.2% to $195.2 million. Gross profit surged 122.4% to $71.8 million, representing 36.8% of sales. Operating income increased by 144.3% to $50.1 million, while net income jumped 142.2% to $37.4 million.

The Distilling Solutions segment saw a 25.8% sales increase, boosted by premium beverage alcohol demand. The company remains optimistic for 2022, projecting sales between $690 million and $715 million.

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.