Quarterly ResultApr 29, 2026, 07:37 AM
MGPI Q1 Net Loss $(134.8)M; $179.5M Impairment Charge
AI Summary
MGP Ingredients Inc. reported a significant net loss of $(134.8)M for Q1 2026, primarily driven by a $179.5M impairment charge on goodwill and other long-lived assets within its Branded Spirits segment. Total sales declined 12.5% to $106.4M, with a substantial drop in Distilling Solutions sales, though Ingredient Solutions saw strong growth. Post-quarter, the company completed the acquisition of the remaining 40% interest in Dos Primos Tequila LLC and paid the $110.8M contingent consideration for Penelope Bourbon.
Key Highlights
- Recorded $179.5M goodwill and other long-lived assets impairment charge.
- Net loss attributable to MGPI was $(134.8)M, significantly up from $(3.0)M YoY.
- Total sales decreased 12.5% to $106.4M from $121.7M YoY.
- Basic EPS was $(6.30) compared to $(0.14) in the prior year quarter.
- Distilling Solutions segment sales fell 40.4% to $28.0M YoY.
- Ingredient Solutions segment sales rose 29.1% to $34.2M YoY.
- Acquired remaining 40% interest in Dos Primos Tequila LLC on April 1, 2026.
- Paid $110.8M contingent consideration for Penelope Bourbon on April 28, 2026.
Price Impact
More from MGPI