MGP INGREDIENTS INC (MGPI) Form 8-K — Oct 28, 2026
MGP Ingredients reported Q3 2026 sales of $117.9 million, down 10% year over year, with net income of $6.9 million and adjusted EPS of $0.39 versus $0.85 a year ago. Adjusted EBITDA fell 33% to $21.5 million, and net debt leverage doubled to 3.6x despite reducing total debt by $28.4 million during the quarter. The declines were driven by a 47% drop in brown goods sales within Distilling Solutions amid industry-wide barrel oversupply, plus margin pressure in Ingredient Solutions and Branded Spirits. Penelope Bourbon was a bright spot with sales up 12%, and Q3 operating cash flow was $32 million.
Key figures
- Eps
- 0.32
- Revenue
- 117900000
- Guidance
- FY2026: sales $480-500M, adjusted EBITDA $90-98M, adjusted basic EPS $1.50-1.80, effective tax rate ~23%, capex ~$20M
- Net Income
- 6900000
- Total Debt
- 341236000
- Revenue Yoy
- -10%
- Total Assets
- 1034072000
- Cash Position
- 13601000
- Shares Outstanding
- 21457947
- New ticker
- CASK
- Adjusted eps
- 0.39
- Gross margin
- 34.3%
- Gross profit
- 40500000
- Ytd impairment
- 180791000
- Debt reduction q3
- $28.4 million
- Adjusted ebitda q3
- 21500000
- Quarterly dividend
- $0.12/share
- Branded spirits sales
- 58200000
- Q3 operating cash flow
- 32000000
- Adjusted eps prior year
- 0.85
- Name ticker change date
- November 2, 2026
- Net debt leverage prior
- 1.8x
- Net debt leverage ratio
- 3.6x
- Adjusted ebitda q3 prior
- 32300000
- Distilling solutions sales
- 29000000
- Ingredient solutions sales
- 30800000
- Penelope bourbon sales growth
- 12%
- Distilling solutions sales change
- -29%
AI analysis
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