MGP Ingredients, Inc. reported third-quarter 2026 sales of $117.911 million, down 10% from $130.912 million a year earlier, and net income of $6.888 million, versus $15.429 million; diluted earnings per share were $0.32 versus $0.71. Distilling Solutions sales fell 29%, primarily on lower brown-goods volume and net price/mix. Ingredient Solutions sales rose 5%, while its gross profit fell 39%.
For the first nine months, sales were $348.695 million, down 12%, and the company recorded a $115.910 million net loss, versus $26.799 million net income a year earlier. A $179.526 million impairment of goodwill and other long-lived assets in Branded Spirits was the primary driver of the operating loss. The company also recorded a $2.148 million credit-loss provision after a significant customer filed a voluntary Chapter 11 reorganization petition; operating activities used $8.860 million in cash. MGP announced its corporate name will change to Sempreon, Inc., and its ticker from MGPI to CASK, effective November 2, 2026. It announced a quarterly dividend of $0.12 per common share and per RSU, payable November 27, 2026.
MGP Ingredients, Inc. (MGPI) reported third-quarter 2026 sales of $117.9 million, down 10% from $130.9 million a year earlier. Gross profit fell 18% to $40.5 million, and net income was $6.9 million versus $15.4 million. Adjusted EBITDA was $21.5 million, down 33%; adjusted basic EPS was $0.39 versus $0.85. Ingredient Solutions sales rose 5% to $30.8 million, while Distilling Solutions sales fell 29% to $29.0 million and Branded Spirits sales fell 4% to $58.2 million. The company said it reduced total debt by $28.4 million during the quarter; cash from operations was $32 million. Net debt leverage was 3.6x at September 30, 2026, compared with 1.8x in the prior-year period.
MGP reaffirmed 2026 guidance: sales of $480 million to $500 million, adjusted EBITDA of $90 million to $98 million, adjusted basic EPS of $1.50 to $1.80, and capital expenditures of approximately $20 million. The board declared a $0.12 per-share dividend, payable November 27, 2026, to holders of record November 13. The company name and ticker are scheduled to change to Sempreon, Inc. and CASK effective November 2, 2026.
MGP Ingredients, Inc. is changing its corporate name to Sempreon, Inc., effective November 2, 2026. Its amended bylaws also take effect that day. The company says the new identity will bring together its Branded Spirits, Distilling Solutions and Ingredient Solutions businesses.
The company expects its ticker symbol to change to CASK on November 2, 2026. No stockholder vote was required because the amendment involved only a corporate name change.
Martin Roper, a director of MGP Ingredients, acquired an award of 2,924 unrestricted common shares on October 1, 2026, reported at $13.25 per share, in lieu of a cash retainer for director service. His reported post-transaction holdings were 38,427 shares, including 3,180 restricted stock units. The award was held directly.
MGP Ingredients Inc. (MGPI) reported that the Lux Children Irrevocable Trust, for which Leslie Lux serves as sole trustee and a member of a 10% holder group, sold 27,731 shares of common stock on September 16, 2026 at a weighted average price of $14.4026 per share in transactions ranging from $14.31 to $14.55. The shares were held indirectly by the trust, which now holds 0 shares; Leslie Lux may be deemed to have had sole voting and dispositive power over those shares and disclaims beneficial ownership except to the extent of her pecuniary interest.
MGP INGREDIENTS INC (MGPI) is the issuer for a Form 144/A amendment reporting planned sales of its common stock by the Ann S. Lux 2005 Irrevocable Trust FBO Paul S. Lux, with Paul S. Lux as sole investment trustee. The notice covers a total of 60,731 shares, including 33,000 shares already sold and 27,731 shares held by the Lux Children Irrevocable Trust dated May 24, 2012. The seller is identified as a 10% owner, and Charles Schwab Corporation is listed as the broker, with the shares expected to trade on the NYSE.
The trust reports that the shares were originally founder shares that were merged into MGPI on April 1, 2021. The amendment updates the original notice filed on August 17, 2026 to add the 27,731 Lux Children Trust shares that were inadvertently omitted, bringing the total amount of MGPI common stock subject to the notice to 60,731 shares as of the notice date of September 15, 2026.
MGP Ingredients Inc (MGPI) received a notice under Rule 144 that the Lux Children Irrevocable Trust dated May 24, 2012, for which Leslie Lux serves as trustee, plans to sell 60,731 shares of common stock through Charles Schwab Corporation.
The notice reports an aggregate market value of $896,390 for these shares, with 21,414,076 common shares outstanding. It also discloses that a related trust sold 33,000 common shares on August 20, 2026, for reported proceeds of $586,222, and notes that the shares originated as founder shares and were merged into MGPI on April 1, 2021.
MGP INGREDIENTS INC (MGPI) insider Paul S. Lux, reported as a member of a 10% holder group, reported an indirect sale of 33,000 shares of common stock on 2026-08-20 at a weighted average price of $17.7643 per share. The shares were sold by the Ann S. Lux 2005 Irrevocable Trust FBO Paul S. Lux, for which he is sole trustee. After these transactions, the trust beneficially owns 550,458 shares, which are included in Lux’s aggregate indirect ownership, and he may be deemed to hold sole voting and dispositive power over those shares.
MGP Ingredients, Inc. entered into two amendments to its debt arrangements to change how certain potential receivable losses affect covenant calculations. Amendment No. 2 to its amended and restated credit agreement and an Eighth Amendment to its note purchase and private shelf agreement both revise the definition of Consolidated EBITDA.
The revisions allow the company, through December 31, 2027, to add back aggregate losses of up to $20,000,000 related to specified customer accounts receivable, with any future recoveries deducted from Consolidated EBITDA. This prevents these uncollected receivables from worsening compliance with key financial covenants, including a minimum consolidated fixed charge coverage ratio of 1.25 to 1.00 and a consolidated net leverage ratio not exceeding 4.00 to 1.00, or 4.50 to 1.00 during an Elevated Ratio Period. MGP has elected an Elevated Ratio Period beginning with the quarter ended June 30, 2026 in connection with earnout obligations from its Penelope Bourbon LLC acquisition. The company describes these steps as precautionary and states it believes leverage will peak in the third quarter of 2026 and then decline.