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Jun 30, 2022
MGP Ingredients Q2 2022 Earnings Report
Reported strong second quarter results, with sales and operating income increasing.
Key Takeaways
MGP Ingredients reported an 11% increase in consolidated sales and a 28% increase in operating income for the second quarter of 2022. The company's performance was driven by growth in the Distilling Solutions and Ingredient Solutions segments. They revised their full-year guidance upward.
Sales increased 11% to $195.0 million due to growth in Distilling Solutions and Ingredient Solutions.
Operating income increased 28% to $35.3 million.
Net income increased 26% to $25.4 million.
Brown goods sales grew by 29%, driving a 19% increase in premium beverage alcohol sales.
Revenue by Segment
Forward Guidance
MGP is revising upward its previous consolidated guidance for fiscal 2022.
Positive Outlook
- Sales are projected to be in the range of $745 million to $765 million.
- Adjusted EBITDA is expected to be in the range of $156 million to $163 million.
- Basic adjusted earnings per common share are forecasted to be in the $4.41 to $4.65 range.
- Basic weighted average shares outstanding expected to be approximately 22.0 million at year end.
- Expansionary projects announced earlier this year remain on track.
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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