MGP Ingredients Reports Third Quarter 2018 Results
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MGP Ingredients (MGPI) Tops Q3 EPS by 1c, Revenues Beat
November 1, 2018 7:46 AM EDTMGP Ingredients (NASDAQ: MGPI) reported Q3 EPS of $0.52, $0.01 better than the analyst estimate of $0.51. Revenue for the quarter came in at $95 million versus the consensus estimate of $92.93 million.
Consolidated net sales increased 10.1% to $95.0 million, reflecting growth in both the Distillery Products and Ingredient Solutions segments.Consolidated gross profit increased 5.2% to $19.6 million from $18.6 million, driven by gross profit growth in the Ingredient Solutions segment, partially offset by a decline in the Distillery Products segment.Consolidated operating income increased 14.7% to $12.0 million, from $10.5... More