MGP Ingredients Reports Second Quarter 2018 Results
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MGP Ingredients (MGPI) Misses Q2 EPS by 5c, Revenues Miss
August 2, 2018 7:41 AM EDTMGP Ingredients (NASDAQ: MGPI) reported Q2 EPS of $0.44, $0.05 worse than the analyst estimate of $0.49. Revenue for the quarter came in at $88.3 million versus the consensus estimate of $90.55 million.
2018 second quarter results compared to 2017 second quarter results
Consolidated net sales increased 2.9% to $88.3 million, reflecting growth in both the Distillery Products and Ingredient Solutions segments.Consolidated gross profit increased 3.3% to $19.4 million from $18.8 million, driven by gross profit growth in the Distillery Products segment, partially offset by a decline in the Ingredient Solutions segment.Consolidated operating income increased to $11.1 million from $10.5 million, up... More