Mgp Ingredients Inc Stock Price, News & Analysis

MGP Ingredients has appointed Terri Roberts as its first Foodservice Sales Director, focusing on expanding the sales of Proterra® Crumbles to the college and university foodservice market. With over 15 years of food sales experience, Roberts brings a strong background in account growth and contract negotiations from her previous roles. This strategic move is aimed at developing new sales channels for MGP's plant-based products.

MGP Ingredients, Inc. (MGPI) has launched Proterra® Crumbles, a line of chef-seasoned plant-based protein developed for foodservice, addressing the growing consumer demand for flavorful plant-based options. Ready in minutes, these pea protein crumbles come in global-inspired flavors like Zesty Chimichurri and Savory Barbacoa. They are Non-GMO, Kosher, and Halal certified, with a 12-month shelf life, minimizing waste for operators. The product is aimed at college cafeterias, capitalizing on Gen Z's preference for meatless meals.

MGP Ingredients (MGPI) has appointed attorney Curtis Landherr as Chief Legal Officer, effective October 17, 2022. Landherr brings over 25 years of legal experience from various industries, including previous roles as Senior VP and General Counsel at Cirrus Aircraft and General Counsel for North American subsidiaries of CSM. His expertise covers litigation management, intellectual property, and M&A. CEO David Colo highlighted Landherr's arrival during a period of significant growth and impending investments in acquisitions and organic growth.

MGP Ingredients, Inc. (Nasdaq: MGPI) has announced its participation in one-on-one investor meetings and a fireside chat at the Wells Fargo Consumer Conference on September 21, 2022, at 1:40 p.m. ET. Key executives, including president and CEO David Colo, COO David Bratcher, and CFO Brandon Gall, will lead the discussions. Live sessions and replays will be available on MGP’s investor relations website for 30 days. MGP Ingredients is recognized for producing premium distilled spirits and providing innovative food ingredient solutions across various markets.

MGP Ingredients reported a solid second quarter on August 4, 2022, with consolidated sales rising 11% to $195 million, driven by robust demand in Distilling and Ingredient Solutions segments. Operating income jumped 28% to $35.3 million, while net income increased 26% to $25.4 million. However, gross profit saw a slight decrease, and adjusted figures showed mixed results. The company revised its 2022 sales guidance upward to between $745 million and $765 million. Strong performance in premium beverage alcohol sales and strategic marketing investments were key highlights.

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.