MGP INGREDIENTS INC
For the period ended Mar 31, 2024. Filed May 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 2, 2024
MGPI$17.12-0.5%Stored close · as of Oct 30, 2026
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Condensed Consolidated Statements of Income (Unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Dollars in thousands, except share and per share amounts)
| Quarter Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Sales | $170,563 | $201,010 |
| Cost of sales | 107,768 | 131,186 |
| Gross profit | 62,795 | 69,824 |
| Advertising and promotion expenses | 8,683 | 7,733 |
| Selling, general, and administrative expenses | 20,979 | 20,532 |
| Impairment of long-lived assets and other | 116 | — |
| Change in fair value of contingent consideration | 4,100 | — |
| Operating income | 28,917 | 41,559 |
| Interest expense, net | (2,019) | (995) |
| Other income (expense), net | (52) | 123 |
| Income before income taxes | 26,846 | 40,687 |
| Income tax expense | 6,262 | 9,655 |
| Net income | 20,584 | 31,032 |
| Net loss attributable to noncontrolling interest | 51 | 39 |
| Net income attributable to MGP Ingredients, Inc. | 20,635 | 31,071 |
| Income attributable to participating securities | (239) | (311) |
| Net income used in earnings per common share calculation | $20,396 | $30,760 |
| Weighted average common shares | ||
| Basic | 22,142,277 | 22,040,224 |
| Diluted | 22,142,277 | 22,072,271 |
| Earnings per common share | ||
| Basic | $0.92 | $1.40 |
| Diluted | $0.92 | $1.39 |
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