MGP Ingredients Reports Second Quarter 2020 Results

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Go back to MGP Ingredients Reports Second Quarter 2020 Results

MGP Ingredients (MGPI) Tops Q2 EPS by 6c

July 30, 2020 7:47 AM EDT

MGP Ingredients (NASDAQ: MGPI) reported Q2 EPS of $0.54, $0.06 better than the analyst estimate of $0.48. Revenue for the quarter came in at $92.6 million versus the consensus estimate of $93.42 million.

2020 second quarter results compared to 2019 second quarter results

Consolidated sales increased 2.3% to $92.6 million, reflecting a 1.6% increase in the Distillery Products segment and a 5.4% increase in the Ingredient Solutions segment.Consolidated gross profit increased 6.0% to $20.7 million, due to increased gross profit in the Ingredient Solutions segment, partially offset by a $1.7 million impact of a cyberattack that temporarily disrupted production at the Atchison facilities.Consolidated... More