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Jun 30, 2021
MGP Ingredients Q2 2021 Earnings Report
Reported record results driven by strong growth across all segments and the Luxco acquisition.
Key Takeaways
MGP Ingredients reported record second-quarter results, with consolidated sales increasing by 89.0% to $174.9 million and EPS increasing to $0.91 per share. The results were driven by strong performance in each of the three business segments and the acquisition of Luxco.
Consolidated sales increased 89.0% to $174.9 million due to strong growth in all reporting segments.
Consolidated gross profit increased 174.5% to $56.8 million, representing 32.5% of consolidated sales.
EPS increased to $0.91 per share from $0.50 per share, and non-GAAP EPS increased to $1.27 per share from $0.54 per share.
Sales of premium beverage alcohol increased 54.2%, primarily driven by brown goods sales growth of 72.8%.
Revenue by Segment
Forward Guidance
MGP is offering the following consolidated guidance for fiscal 2021, including Luxco's financial results:
Positive Outlook
- Sales are projected to be in the range of $570 million to $580 million.
- Adjusted EBITDA is expected to be in the range of $105 million to $110 million.
- Adjusted earnings per share are forecasted to be in the $2.90 to $3.00 range.
- Weighted average shares outstanding expected to be approximately 20.7 million at year end.
Challenges Ahead
- The pandemic’s continued uncertainty and its potential impact on our results.
- Aged whiskey demand to moderate in the back half of the year and over the long-term, to grow in line with the overall American Whiskey category.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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