Quarterly ResultJul 29, 2026, 07:36 AM
MGP Ingredients Reports YTD Net Loss $(122.8)M Due to Impairments
AI Summary
MGP Ingredients reported a net loss attributable to the company of $(122.8) million for the year-to-date period ended June 30, 2026, primarily driven by significant impairment charges totaling $152.7 million for goodwill and indefinite-lived intangible assets. For the second quarter, net income was $12.0 million on sales of $124.4 million, a decrease from the prior year. The company also acquired the remaining 40% non-controlling interest in Dos Primos Tequila, making it a wholly-owned subsidiary, and paid $110.8 million in contingent consideration for the Penelope Bourbon acquisition.
Key Highlights
- YTD Net Loss attributable to MGP Ingredients: $(122.8) million.
- Goodwill impairment charge: $115.7 million in Q1 2026.
- Indefinite-lived intangible assets impairment: $37.0 million in Q1 2026.
- Q2 Net Income attributable to MGP Ingredients: $12.0 million.
- Q2 Sales: $124.4 million, down 14.5% YoY.
- YTD Sales: $230.8 million, down 13.6% YoY.
- Acquired remaining 40% non-controlling interest in Dos Primos Tequila.
- Paid $110.8 million in contingent consideration for Penelope Bourbon.
Price Impact
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