Quarterly ResultApr 29, 2026, 07:37 AM
MGPI Q1 Net Loss $134.8M Due to Impairments; Reaffirms FY26 Outlook
AI Summary
MGP Ingredients reported a net loss of $134.8 million for Q1 2026, primarily due to $179.5 million in non-cash adjustments for goodwill and long-lived asset impairments in the Branded Spirits segment. Consolidated sales decreased 13% to $106.4 million, while adjusted basic EPS fell 58% to $0.15 per share. Despite the challenging industry backdrop, the company reaffirmed its full-year 2026 financial outlook and declared a quarterly dividend of $0.12 per share, highlighting momentum in its premium plus portfolio and growth in Ingredient Solutions.
Key Highlights
- MGPI Q1 2026 net loss was $134.8 million, primarily due to $179.5 million non-cash adjustments.
- Adjusted basic EPS decreased 58% to $0.15 per share.
- Consolidated sales decreased 13% to $106.4 million.
- Branded Spirits segment sales decreased 8% to $44.2 million, with Penelope Bourbon up 10%.
- Distilling Solutions segment sales decreased 40% to $28.0 million.
- Ingredient Solutions segment sales increased 29% to $34.2 million.
- Company reaffirmed full-year 2026 sales guidance of $480M-$500M and adjusted EBITDA of $90M-$98M.
- Declared a quarterly dividend of $0.12 per share.