MGP INGREDIENTS INC

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.

MGP Ingredients reported Q2 2026 results with adjusted basic EPS of $0.72 and consolidated sales of $124.4 million. While consolidated sales and gross profit decreased, adjusted EBITDA and adjusted basic EPS came in ahead of expectations. The company reaffirmed its full-year 2026 guidance and declared a quarterly dividend of $0.12 per share.

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.

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.

MGP Ingredients, Inc. (MGPI) announced on April 7, 2026, the temporary idling of distilling operations at its Limestone Branch Distillery in Lebanon, Kentucky, and Lux Row Distillers in Bardstown, Kentucky. This strategic move is intended to adjust production levels to align with the company's current inventory. Despite the operational adjustment, MGP Ingredients concurrently reaffirmed its full-year 2026 financial outlook, signaling that the company anticipates no material impact on its previously communicated financial targets for the year.