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 reported strong Q2 2021 results, achieving consolidated sales of $174.9 million, up 89% year-over-year, driven by record performance across all segments. Gross profit soared 174.5% to $56.8 million, while non-GAAP gross profit rose 186.7% to $59.4 million. Operating income increased 144% to $27.7 million. The company also experienced significant growth in premium beverage alcohol sales, up 54.2%. Full-year sales are projected between $570 million and $580 million.
MGP Ingredients, Inc. (Nasdaq:MGPI) has declared a quarterly dividend of $0.12 per share, payable on September 3, 2021, to stockholders of record as of August 20, 2021. This announcement reflects the company's ongoing commitment to returning value to shareholders.
MGP Ingredients is a prominent producer of distilled spirits and food ingredients, serving various markets from craft brands to multinational entities. The firm operates several U.S. distilleries and bottling facilities, ensuring extensive reach and quality in its offerings.
MGP Ingredients, Inc. (Nasdaq: MGPI) is set to hold a conference call/webcast on August 4, 2021, at 10 a.m. ET to discuss its second-quarter results for the period ending June 30, 2021. Financial results will be made available before the market opens that morning. David Colo, president and CEO, and Brandon Gall, CFO, will lead the call. Interested parties can access the call via webcast at ir.mgpingredients.com. A replay will be accessible post-call on the website.
MGP Ingredients (Nasdaq:MGPI) has appointed Amel Pasagic as Chief Information Officer to enhance its IT strategy following the acquisition of Luxco. Previously Vice President of IT at Luxco, Pasagic brings a decade of IT leadership experience. He will report to CEO Dave Colo and is expected to drive the company's IT initiatives, crucial for its growth post-acquisition. The acquisition of Luxco aims to expand MGP's branded spirits portfolio, enhancing market presence. MGP focuses on producing premium distilled spirits and ingredient solutions, backed by an extensive infrastructure across the U.S.
MGP Ingredients, Inc. (MGPI) has appointed David Bratcher as its new Chief Operating Officer. Previously, Bratcher served as President at Luxco, Inc., whose acquisition by MGP has been pivotal. He brings over 20 years of leadership experience from Luxco, playing a key role in its growth. His appointment aims to facilitate the integration of Luxco and bolster MGP's strategic initiatives, as noted by CEO Dave Colo. MGP specializes in distilled spirits and food ingredient solutions, with a diverse product portfolio and extensive operational infrastructure.
MGP Ingredients, Inc. (Nasdaq: MGPI) has appointed Erika Lapish as Vice President of Human Resources. With over 20 years in HR management, Lapish has experience in workforce integration due to business growth and mergers. MGP is focusing on growth following its recent acquisition of Luxco and shows ongoing strength in its Distilled Spirits and Ingredient Solutions segments. President and CEO Dave Colo emphasized the importance of talent in the company's success, marking Lapish's hire as significant during this pivotal time.
MGP Ingredients, Inc. (Nasdaq:MGPI) reported a strong Q1 2021 performance, with consolidated sales up 9.3% to $108.3 million, driven by a 31.1% increase in premium beverage alcohol sales. Operating income surged 49.6% to $20.5 million, while non-GAAP operating income rose 56.7% to $22.4 million. EPS increased to $0.90 from $0.57. The company has experienced temporary softness in its Ingredient Solutions segment due to natural gas curtailment but expects improved results in Q2. MGP also aims for 0% to 2% adjusted sales growth in fiscal 2021, excluding Luxco's integration.
MGP Ingredients, Inc. (Nasdaq:MGPI) has declared a quarterly dividend of $0.12 per share, payable on June 4, 2021, to stockholders of record as of May 21, 2021. This dividend reflects the company's ongoing commitment to returning value to shareholders amidst its operations in premium distilled spirits and specialty food ingredients. MGP operates multiple distilleries in the U.S. and offers a diverse range of well-known brands.
MGP Ingredients, Inc. (Nasdaq:MGPI) will discuss its first-quarter 2021 financial results on a conference call/webcast scheduled for May 5, 2021, at 10 a.m. ET. Financial results will be released pre-market on the same day. President and CEO David Colo, along with CFO Brandon Gall, will lead the discussion. The conference call will be accessible via a dedicated phone line and webcast on the company's investor relations website.
The newly launched Vita Frute Vodka Soda features a Blood Orange flavor, along with a 12-pack mix that includes Lime Basil, Pineapple Coconut, and Grapefruit. This product aims to meet the rising demand for hard seltzer beverages, which grew by 136% in 2020. Priced competitively, these beverages are 5% ABV, 100 calories, and gluten-free, targeting health-conscious consumers. The new flavors will be available nationwide this month, providing further opportunities for Luxco and its merged counterpart, MGP Ingredients (Nasdaq: MGPI).