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Sep 30, 2020
MGP Ingredients Q3 2020 Earnings Report
Reported strong results with consolidated sales increasing and operating income rising.
Key Takeaways
MGP Ingredients reported a strong third quarter in 2020, with consolidated sales increasing by 13.5% and operating income increasing by 17.7%. The company saw growth in both the Distillery Products and Ingredient Solutions segments, driven by aged whiskey sales and specialty ingredients. The company remains confident in its long-term strategy and ability to align with strong macro consumer trends.
Consolidated sales increased 13.5% to $103.0 million.
Consolidated gross profit increased 23.3% to $23.2 million.
Consolidated operating income increased 17.7% to $13.7 million.
GAAP and non-GAAP earnings per share increased to $0.61 per share from $0.48 per share.
Revenue by Segment
Forward Guidance
While the company anticipate continued uncertainty related to the pandemic through the end of this year and into 2021, they believe they remain well positioned to execute their long-term strategic plan.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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