MGP Ingredients Reports Third Quarter 2026 Results
MGP Ingredients reported Q3 2026 sales of $117.9 million, down 10% year-over-year, with adjusted EPS of $0.39 versus $0.85 a year ago and adjusted EBITDA down 33% to $21.5 million. The decline was driven by an expected 47% drop in brown goods sales in Distilling Solutions amid industry-wide oversupply, partially offset by 5% growth in Ingredient Solutions and 12% growth in Penelope Bourbon. Net debt leverage rose to 3.6x from 1.8x, though the company cut total debt by $28.4 million in the quarter. Management reaffirmed FY2026 guidance (sales $480M-$500M, adjusted EBITDA $90M-$98M, adjusted EPS $1.50-$1.80) and declared a $0.12 quarterly dividend.
Key figures
- Eps
- 0.32
- Revenue
- 117900000
- Guidance
- FY2026: sales $480M-$500M; adjusted EBITDA $90M-$98M; adjusted basic EPS $1.50-$1.80; ~21.4M weighted basic shares; ~23% effective tax rate; ~$20M capex (reaffirmed)
- Revenue Yoy
- -10%
- Ytd sales
- 348695000
- Net income
- 6900000
- Gross margin
- 34.3%
- Gross profit
- 40500000
- Ytd impairment
- 180791000
- Adjusted ebitda
- 21500000
- Operating income
- 12000000
- Adjusted eps basic
- 0.39
- Dividend per share
- 0.12
- Adjusted ebitda yoy
- -33%
- Adjusted net income
- 8600000
- Operating income yoy
- -43%
- Q3 operating cash flow
- 32000000
- Net debt leverage ratio
- 3.6x
- Penelope earnout payment
- 48700000
- Debt reduction in quarter
- 28400000
AI analysis
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