Q1 2026 MGP Ingredients Inc Earnings Call Transcript

Apr 29, 2026 / 02:00 PM GMT

Release Date Price: $19.16 (-5.20%)

Transcript 10-Q8-K

Key Points

Positve

MGP Ingredients Inc (MGPI) reported first-quarter sales of $106.4 million, which, although down from the previous year, met expectations.
The Premium Plus portfolio, led by Penelope Bourbon, maintained momentum with a 10% year-over-year sales increase.
Gross margin expanded by 180 basis points to 47.8%, reflecting improved mix and early benefits from revenue growth management initiatives.
Ingredient Solutions segment saw a 29% increase in sales, driven by higher sales volume, price, and mix for specialty wheat, proteins, and starches.
The company onboarded 20 new customers in the Distilling Solutions segment, demonstrating successful customer expansion efforts.

Negative

Adjusted EBITDA of $15 million and adjusted basic EPS of $0.15 both declined compared to the first quarter of the previous year.
Net income decreased to a loss of $134.8 million, primarily due to a non-cash adjustment to reduce the carrying amount of goodwill and other long-lived assets.
Distilling Solutions segment sales decreased by 40% year-over-year, with gross profit declining by 54% due to elevated inventory levels.
The company announced a temporary idling of distilling operations in Kentucky, affecting 33 employees, to better align operations and inventory.
Effluent disposal costs in the Ingredient Solutions segment were higher than expected, impacting gross margins.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MGPI.OQ - MGP Ingredients Inc
Q1 2026 MGP Ingredients Inc Earnings Call
Apr 29, 2026 / 02:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the MGP Ingredients First Quarter 2026 Earnings Conference Call with Julie Francis, President and CEO, and Brandon Gall, CFO. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on a touch-tone phone. To withdraw your question, please press star then two. Please also note that this event is being recorded today. In addition, this call may involve certain forward-looking statements. The company's actual results could differ materially from any forward-looking statements due to a number of

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