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Mar 31, 2022
MGP Ingredients Q1 2022 Earnings Report
Reported record results due to sales growth in each of the reporting segments
Key Takeaways
MGP Ingredients reported record first quarter 2022 results, with consolidated sales increasing 80.2% and operating income increasing 144.3% compared to the prior year period.
Sales increased 80.2% to $195.2 million due to sales growth in each reporting segment.
Gross profit increased 122.4% to $71.8 million, representing 36.8% of sales.
Operating income increased 144.3% to $50.1 million.
Net income increased 142.2% to $37.4 million.
Revenue by Segment
Forward Guidance
MGP is confirming the following consolidated guidance for fiscal 2022:
Positive Outlook
- Sales are projected to be in the range of $690 million to $715 million.
- Adjusted EBITDA is expected to be in the range of $150 million to $157 million.
- Basic adjusted earnings per share are forecasted to be in the $4.15 to $4.35 range.
- Basic weighted average shares outstanding expected to be approximately 22.0 million at year end.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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