Welcome to our dedicated page for Mgp Ingredients news (Ticker: MGPI), a resource for investors and traders seeking the latest updates and insights on Mgp Ingredients stock.
MGP Ingredients, Inc. (Nasdaq: MGPI) is described in its news releases as a leading provider of branded and distilled spirits and food ingredient solutions, operating through three segments: Branded Spirits, Distilling Solutions, and Ingredient Solutions. The MGPI news feed on Stock Titan brings together company announcements, brand updates, and financial communications that reflect activity across these segments.
Investors and followers of MGPI can use this page to review earnings releases, outlook updates, and other financial communications the company issues, such as quarterly results and dividend declarations. These items provide insight into segment performance, trends in brown goods and branded spirits, and developments in the Ingredient Solutions business.
The news flow also highlights product and brand activity from MGP’s Branded Spirits division under the Luxco umbrella. Recent releases have covered new and returning expressions from brands like Rebel Bourbon, Penelope Bourbon, Remus Bourbon, and El Mayor Tequila, including flavored whiskeys, ready-to-pour cocktails, and specialty tequila offerings. These announcements give context on how MGP supports innovation and positioning within its premium spirits portfolio.
Corporate governance and leadership changes, such as board transitions and executive appointments, are also reported through MGPI news. Together, these updates help readers understand how MGP Ingredients manages its operations, develops its brands, and communicates with shareholders. Bookmark this page to quickly access MGPI-related earnings news, brand launches, and corporate announcements in one place.
MGP Ingredients, Inc. (Nasdaq: MGPI) has announced an upcoming analyst and investor day on November 18, 2021, at its Lux Row Distillery in Bardstown, Kentucky. This virtual event will feature management presentations focusing on the company's strategic business plan, starting at 9:00 a.m. ET and lasting about three hours. Investors can access a live video webcast on the Investor Relations site, where presentation slides will also be posted.
MGP Ingredients, Inc. (Nasdaq: MGPI) announced the pricing of $175 million in 1.875% convertible senior notes due in 2041. The private offering to institutional buyers is set to close on November 16, 2021. The notes will pay semi-annual interest starting May 2022 and offer an initial conversion rate of 10.3911 shares per $1,000 principal amount, equating to a conversion price of approximately $96.24. Proceeds are estimated at $169.3 million, intended to reduce the company's revolving credit facility.
MGP Ingredients, Inc. (Nasdaq: MGPI) plans to offer $175 million of convertible senior notes due 2041 to qualified institutional buyers. An additional $26.25 million may be available for over-allotments. The notes, which will accrue semi-annual interest, allow for conversion into cash and/or common stock. Proceeds will primarily reduce the revolving credit facility's outstanding balance. The offering is subject to market conditions and will not be registered under the Securities Act.
MGP Ingredients, Inc. (Nasdaq: MGPI) reported record third-quarter results with consolidated sales up 71.5% to $176.6 million and gross profit increasing 146.5% to $57.1 million. Operating income rose 140.9% to $32.9 million, and EPS jumped to $1.08. The strong performance was fueled by a 32.5% increase in premium beverage alcohol sales, particularly brown goods. The company announced an increased full-year 2021 guidance, projecting sales between $570 million and $615 million and adjusted EBITDA of $125 million to $135 million, signaling continued growth across its segments.
MGP Ingredients, Inc. (Nasdaq:MGPI) has declared a quarterly dividend of $0.12 per share, payable on December 3, 2021, to stockholders of record as of November 19, 2021. The company, a leader in distilled spirits and food ingredient solutions, continues to leverage its expertise to enhance product offerings across various segments. With a robust portfolio that includes premium spirits and ingredient solutions, MGP aims to meet growing consumer demands while maintaining a commitment to quality and innovation.
MGP Ingredients, Inc. (Nasdaq: MGPI), a leader in distilled spirits and food ingredient solutions, announced a conference call/webcast to discuss its third-quarter results on November 3, 2021, at 10 a.m. ET. The financial results will be released before the market opens that morning. On the call, management will include David Colo, president and CEO, and Brandon Gall, CFO. The event will be accessible via ir.mgpingredients.com and will be available for replay afterwards.
Luxco announces the arrival of George Remus Single Barrel selections at retailers in September, coinciding with National Bourbon Heritage Month. This marks the second year of the program, which allows retailers to choose from two unique mash bills distilled at MGP's historic distillery in Lawrenceburg, Indiana. The selections are offered at cask strength and come with customizable labels. MGP Master Blender David Whitmer highlights the significance of this program in celebrating the heritage of bourbon.
Lux Row Distillers and Ducks Unlimited have partnered to launch Daviess County Double Barrel Bourbon, a limited-edition bourbon featuring a unique flavor profile. This bourbon, finished in Missouri white-oak barrels, will retail for $49.99 per bottle, available from mid-September 2021. With a mashbill similar to existing Daviess County variants and a proof of 96, it's crafted by Master Distiller John Rempe. The partnership aims to appeal to outdoor enthusiasts and bourbon lovers, with DU members having exclusive access to sample and bid on this release at upcoming events.
Lux Row Distillers has unveiled the Blood Oath Trilogy – Second Edition, comprising limited-release bourbons, Pacts 4, 5, and 6. Limited to 1,400 sets, priced at $799, this collection will be available in late September 2021. Master Distiller John Rempe created the original Blood Oath bourbons in 2014, ensuring each Pact remains unique and unrepeated. The Trilogy highlights bourbons aged from 7 to 14 years, featuring distinctive flavor profiles. Lux Row, merged with MGP Ingredients (Nasdaq: MGPI), is known for its award-winning spirits portfolio.
Luxco has announced that customized bottles of Rossville Union Single Barrel rye whiskey are set to arrive at participating retailers this August for National Rye Month. Retailers previously selected their unique barrels from three mash bills during a virtual tasting event. Master Blender David Whitmer emphasized the program's success, catering to diverse consumer tastes. MGP, known as the 'Masters of Rye,' highlights its expertise through this unique offering, enhancing its portfolio of award-winning spirits, particularly from its historic distillery in Lawrenceburg, Indiana.