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.
Rebel Bourbon has renewed its sponsorship with Richard Childress Racing (RCR) and driver Kyle Busch for the 2025 NASCAR Cup Series season. Following a successful 2024 partnership, Rebel Bourbon continues as the Official Bourbon of RCR and the No. 8 Chevrolet, featuring a multi-race primary sponsorship.
The partnership includes a new Rebel paint scheme for Busch's No. 8 Chevrolet, inspired by American oak bourbon barrels with wood-grain design and char-like visuals. The first race featuring the new design will be at the EchoPark Automotive Grand Prix on March 2, 2025, in Austin, Texas.
The expanded program for 2025 will include enhanced fan engagement at tracks, race markets, retail locations, and through social media content. The Rebel branding will be prominently featured on Busch's uniform, helmet, and other elements throughout the season.
Ragnar Relay has announced Yellowstone Bourbon as its Official Bourbon Partner for the 2025 race season. The partnership will span across all 29 Ragnar Relay events nationwide, starting with Road SoCal and Trail Atlanta on April 11. Yellowstone Bourbon will provide on-site bourbon tastings and interactive experiences at the events.
The collaboration aims to enhance the race experience by combining Ragnar's team-based relay running events with Yellowstone's premium spirits and outdoor conservation focus. Ragnar offers two race formats: Road (200 miles) and Trail (120 miles), challenging teams over two days and one night.
To launch the partnership, Yellowstone Bourbon is hosting a sweepstakes through February 12, 2025, offering one team a chance to win a fully paid entry into the 2025 Bourbon Chase relay race in Kentucky's bourbon country.
MGP Ingredients (MGPI) announced key leadership changes effective January 1, 2025. Brandon Gall, current CFO, will become Interim President and CEO, succeeding David Bratcher who will retire. Donn Lux will replace Karen Seaberg as Board Chairman, while she remains a board member. Lux will lead the search for a permanent CEO.
The company reaffirmed its 2024 sales and earnings guidance, while reducing capital expenditure expectations to $72 million from $78 million due to construction delays in the Ingredient Solutions segment's mini-fuel plant. Fourth quarter and full year 2024 results, along with 2025 guidance, will be announced in late February 2025.
Ross & Squibb Distillery announces the return of Remus Gatsby Reserve 2024 Edition, an ultra- bourbon featuring 15-year-old reserves. Bottled at 104.9 proof (52.45% ABV), this expression combines two bourbon mash bills and will retail at $229.99 per 750mL bottle. The 2024 edition offers notes of antique leather and tobacco on the nose, cherry syrup with walnut and oak on the palate, and a finish of walnut, fig, and roasted almonds. Packaged in an Art-Deco-inspired bottle, this third annual release follows its predecessors' success, with previous editions winning Double Platinum at ASCOT Awards, Double Gold at SIP Awards, and Gold at San Francisco World Spirits Competition.
MGP Ingredients (MGPI) reported Q3 2024 results with consolidated sales decreasing 24% to $161.5 million, while net income increased 82% to $23.9 million. The company's performance showed mixed results across segments, with Distilling Solutions sales down 36% to $71.9 million, Branded Spirits sales declining 6% to $62.6 million, and Ingredient Solutions sales dropping 18% to $26.9 million. In response to softening American whiskey trends, MGP plans to reduce whiskey production and optimize costs in 2025. The company reaffirmed its revised 2024 guidance with sales expected between $695-705 million and adjusted EBITDA of $196-200 million.
MGP Ingredients (MGPI), a provider of branded and distilled spirits and food ingredient solutions, has announced a quarterly dividend payment. The company's board of directors declared a dividend of $0.12 per share of common stock, which will be paid on November 29, 2024 to stockholders of record as of November 15, 2024.
MGP Ingredients (Nasdaq: MGPI) announced preliminary Q3 2024 results and updated full-year guidance. Key points:
- Q3 sales expected to decline 24% to $161.5 million
- Q3 net income expected to increase 82% to $23.9 million
- Q3 adjusted EBITDA expected to decline 9% to $45.7 million
- Full-year 2024 guidance revised downward:
• Sales: $695-$705 million (previously $742-$756 million)
• Adjusted EBITDA: $196-$200 million (previously $218-$222 million)
• Adjusted basic EPS: $5.55-$5.65 (previously $6.12-$6.23)
CEO David Bratcher cited soft alcohol spirits category trends and elevated industry-wide whiskey inventories as reasons for the disappointing results and outlook. The company will report full Q3 results on October 31, 2024.
Yellowstone Bourbon has announced the release of its 2024 Bourbon Giftpack for the holiday season. This special giftpack includes three award-winning Yellowstone Bourbon varieties: Yellowstone Select, Yellowstone Special Finishes Collection Toasted, and Yellowstone Special Finishes Collection Rum Cask. The giftpack will be available at local retailers nationwide with a minimum suggested retail price of $49.99.
This marks Yellowstone's first multi-bottle pack and the first time these expressions have been offered together in 375mL sizes. Each bourbon in the pack has received prestigious awards, including Double Gold and Platinum recognitions. The giftpack aims to appeal to both premium bourbon fans and those new to bourbon, offering an affordable way to sample these award-winning varieties.
Lux Row Distillers has announced the release of Blood Oath Trilogy - Third Edition, a collection of -release bourbons created by Master Distiller John Rempe. The set includes 750mL bottles of Pacts 7, 8, and 9, with only 1,400 sets available at a suggested retail price of $799.99. Shipments will begin in September 2024.
Each Pact in the Trilogy features unique blends of aged bourbons, finished in distinctive casks:
- Pact 7: Blend of 14-year and two 8-year ryed bourbons, one finished in Sauternes casks
- Pact 8: Blend of 14-year, 11-year, and 8-year ryed bourbons, with the latter finished in Calvados casks
- Pact 9: Blend of 16-year, 12-year, and 7-year ryed bourbons, with the youngest finished in Oloroso Sherry casks
All Pacts are bottled at 98.6 proof (49.3% ABV) and packaged in a custom black wooden display box.
Ross & Squibb Distillery is set to release the Remus Repeal Reserve Series VIII Straight Bourbon Whiskey in September 2024, commemorating the repeal of Prohibition. This -edition bourbon, bottled at 101 proof, features a blend of three rare bourbons aged 10-17 years. Priced at $99.99 per 750mL bottle, it boasts a higher proportion of high-rye bourbon than previous editions.
Master Distiller Ian Stirsman and the blending team crafted this unique medley, which includes:
- 9% of 17-year-aged bourbon (21% rye)
- 24% of 10-year-aged bourbon (21% rye)
- 67% of 10-year-aged bourbon (36% rye)
The bourbon offers aromas of cherry and candied pecans, flavors of maple syrup and fig, with a vanilla and oak finish. This release follows the success of previous award-winning editions in the Remus Repeal Reserve series.