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.
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.
MGP Ingredients (Nasdaq: MGPI) reported strong Q2 2024 results, reiterating full-year guidance. Despite a 9% sales decrease to $190.8 million due to the Atchison distillery closure, consolidated sales increased by 7% excluding this impact. Net income remained stable at $32.0 million, while adjusted net income rose 15% to $38.0 million. Adjusted EBITDA grew 7% to $57.5 million, with margin expanding to 30.2%. The company's premium plus branded spirits portfolio showed continued momentum, with sales growing 29%. MGP maintains its 2024 guidance, projecting sales of $742-$756 million, adjusted EBITDA of $218-$222 million, and adjusted basic EPS of $6.12-$6.23.
MGP Ingredients (Nasdaq: MGPI), a leading provider of branded and distilled spirits and food ingredient solutions, has announced a quarterly dividend of $0.12 per share of common stock. The dividend will be payable on August 30, 2024 to stockholders of record as of August 16, 2024. This declaration by the board of directors demonstrates the company's commitment to returning value to shareholders and may indicate confidence in its financial stability and future prospects.
Limestone Branch Distillery has unveiled its 2024 Yellowstone Bourbon Edition Kentucky Straight Bourbon Whiskey. This ninth annual release, crafted by Master Distiller Stephen Beam, features a unique blend of 7-year and 17-year aged bourbons, marking the distillery's first-ever double finish in French brandy and cognac casks. Bottled at 101 proof (50.5% ABV), the edition will be available in September with an allocation of 10,000 cases at a suggested price of $99.99 per 750mL bottle.
The 2024 expression boasts a rich amber color with aromas of pear, panela sugar, ripe apple, and leather. Its flavor profile includes American basswood honey, ripe stone fruits, citrus, caramel, and vanilla, culminating in a warm finish of honey, Bosc pear, butterscotch, and leather. The bourbon is presented in custom-designed bottles featuring embossing and a high-end natural cork.
MGP Ingredients (Nasdaq: MGPI), a leading provider of branded and distilled spirits and food ingredient solutions, has announced its plans to report second quarter 2024 financial results on Thursday, August 1, 2024. The company will release its financial results before the markets open, followed by a conference call at 10 a.m. ET. CEO and President David Bratcher and CFO Brandon Gall will lead the call to discuss the results.
Investors can access the live webcast through the company's Investor Relations website or dial in to listen to the call. A replay will be available on the website after the call concludes. This announcement sets the stage for MGP Ingredients to provide insights into its financial performance for the quarter ended June 30, 2024.
Remus Bourbon announces the release of Remus Babe Ruth Reserve, a collector's edition bourbon in collaboration with the Babe Ruth estate. This special release features a blend of three high-rye mash bills aged for six to seven years, offered at 111 proof (55.5% ABV). A total of 10,624 bottles, matching Babe Ruth's plate appearances, will be available from July at a suggested price of $149.99 per 750mL bottle. The bottle includes a QR code for fans to learn about Ruth's plate appearances. Remus is also hosting a sweepstakes for four winners to attend the 2024 All-Star Game in Arlington, Texas, and will hold launch parties during the event week.
MGP Ingredients has announced the appointment of David Colyott as Executive Vice President of Operations, effective July 2024. Colyott replaces Steve Glaser, who is retiring after a 13-year tenure. Colyott brings over 30 years of experience in supply chain operations and has held significant roles at Mars Petcare, Nestlé Waters, Ryder, and The Home Depot. He holds a Bachelor of Science in Marketing from Eastern Illinois University and has completed executive leadership programs at London School of Business, Nestlé, and Mars Petcare. MGP Ingredients' CEO, David Bratcher, expressed optimism about Colyott's leadership aligning with the company’s strategy of transitioning into a branded spirits company.
Lux Row Distillers announced the release of Rebel 10-Year Single Barrel Bourbon, aged for a decade and hand bottled at 100 proof. Priced at $99.99 for a 750mL bottle, this -edition bourbon features a unique flavor profile with vanilla, dark fruits, citrus, and oak, culminating in a smooth oak finish with a hint of spice. Each bottle is labeled with the barrel number and 'aged since' date. This release underscores Rebel Bourbon's commitment to quality and innovation, having recently won Double Platinum at the ASCOT Awards and Platinum - Best of Class at the SIP Awards. Additionally, Rebel Bourbon has become the official bourbon of Richard Childress Racing and offers two new barrel programs for retailers.
Ross & Squibb Distillery has unveiled enhancements to its Remus Bourbon and Rossville Rye Single Barrel programs for 2024. The historic Lawrenceburg, Indiana-based distillery offers unique kits for each brand with the option of private, guided tastings led by Master Distiller Ian Stirsman, either in-person or virtually.
The in-person experience includes a tour of the 175-year-old distillery, a private sampling, and is available by reservation only. The virtual tasting kits come in a natural wood case with three different mash bill samples, branded glassware, and detailed information about each offering.
These enhancements aim to provide a unique and personalized experience for whiskey enthusiasts.
MGP Ingredients has appointed Amit Sharma as Vice President of Investor Relations as of May 20, 2024. Sharma brings over 18 years of experience, previously serving in a similar role at Hostess Brands, where he enhanced investor engagement and drove shareholder value. In his new role, Sharma will lead MGP's investor relations strategy, aiming to improve communication with investors and stakeholders. CEO David Bratcher and CFO Brandon Gall both express confidence in Sharma’s capabilities to support the company's growth objectives. Sharma holds a Bachelor’s in Computer Science from Delhi University, an MBA from Baruch College, and is a CFA.