MGP Ingredients reported a challenging fourth quarter with a 23% decline in sales and a significant net loss due to a $152.6 million non-cash impairment charge in the Branded Spirits segment. Despite these headwinds, the company achieved full-year results above the top end of its guidance and generated record-high cash flow from operations.
Consolidated sales decreased 23% to $138.3 million, primarily driven by lower brown goods sales in Distilling Solutions.
A $152.6 million non-cash impairment charge led to a GAAP net loss of $134.6 million for the quarter.
Adjusted EBITDA for the quarter fell 51% to $26.1 million, reflecting operational inefficiencies and lower volumes.
Full-year cash flow from operations reached a record $121.5 million, up $19.3 million from the previous year.
For 2026, MGP Ingredients expects sales between $480 million and $500 million, with adjusted EBITDA between $90 million and $98 million.
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