MGP Ingredients Inc reported second-quarter 2026 results with revenue of $124.4M and diluted EPS of $0.55, down versus the prior-year quarter as both sales and earnings declined on lower volumes in Distilling Solutions and Branded Spirits.
Financial Highlights
- Revenue was $124.4M for Q2 2026, down from $145.5M in Q2 2025 ( (15%)).
- Net income attributable to MGP Ingredients was $12.0M for Q2 2026, down from $14.4M in Q2 2025 ( (17%)).
- Diluted earnings per share was $0.55 for Q2 2026, down from $0.67 in Q2 2025 ( (18%)).
Business Highlights
- Revenue trend: Sales declined roughly 14–15% year-to-date and in Q2 as Distilling Solutions and Branded Spirits volumes fell, partly offset by growth in Ingredient Solutions.
- Channel and product mix: Brown goods volumes were notably down (approximately 41–59%) amid industry barrel inventory pressure, while premium-plus spirits showed growth.
- Brand momentum: Increases in premium-plus and mid-tier American whiskey and tequila supported higher branded gross margins.
- Ingredient operations: Specialty wheat proteins and starches increased in volume and mix, though margins were pressured by higher waste starch costs tied to biofuel production.
- Operations and provisions: The company increased barreled distillate inventory and capital spending for facility improvements; a credit loss provision was recorded related to a major customer bankruptcy.
Original SEC Filing:
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