MGP Ingredients, Inc. Provides Earnings Guidance for the Full Year Ended December 31, 2019
January 17, 2020 at 08:00 am
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MGP Ingredients, Inc. provided earnings guidance for the full year ended December 31, 2019. For the year, the company expects to report sales of approximately $362 million. Operating income expected to be in the range of $46 million to $48 million. Earnings per share expected to be in the range of $2.20 to $2.30.
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. 
