MGP Ingredients, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
February 22, 2024 at 07:44 am EST
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MGP Ingredients, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 836.52 million compared to USD 782.36 million a year ago. Net income was USD 107.48 million compared to USD 109.46 million a year ago.
Basic earnings per share from continuing operations was USD 4.82 compared to USD 4.94 a year ago. Diluted earnings per share from continuing operations was USD 4.8 compared to USD 4.92 a year ago.
MGP Ingredients, Inc. is a producer and supplier of distilled spirits, branded spirits, and food ingredients. The Company operates through three segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. The Distilling Solutions segment consists of food grade alcohol and distillery co-products, such as distillers feed, fuel grade alcohol, and corn oil. This segment also includes warehouse services, including barrel put away, storage, and retrieval services, as well as blending services. The Branded Spirits segment consists of a portfolio of high-quality brands, which it produces through its distilleries and bottling facilities and sell to distributors pursuant to customer contracts and purchase orders. Its Ingredient Solutions segment consists primarily of specialty wheat starches, specialty wheat proteins, commodity wheat starches, and commodity wheat proteins. It is also a producer of industrial alcohol for use in both food and non-food applications.
MGP INGREDIENTS, INC. 
