MGP Ingredients, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2024. For the fourth quarter, the company reported sales was USD 180.8 million compared to USD 214.89 million a year ago. Net loss was USD 41.96 million compared to net income of USD 31.07 million a year ago. Basic loss per share from continuing operations was USD 1.91 compared to basic earnings per share from continuing operations of USD 1.39 a year ago. Diluted loss per share from continuing operations was USD 1.91 compared to diluted earnings per share from continuing operations of USD 1.39 a year ago.
For the full year, sales was USD 703.63 million compared to USD 836.52 million a year ago. Net income was USD 34.66 million compared to USD 107.48 million a year ago. Basic earnings per share from continuing operations was USD 1.56 compared to USD 4.82 a year ago. Diluted earnings per share from continuing operations was USD 1.56 compared to USD 4.8 a year ago.
MGP Ingredients, Inc. is a producer of branded and distilled spirits, as well as food ingredient solutions. Its offerings include bourbon and rye whiskeys, gins, and vodkas. It operates through three segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. Its Distilling Solutions Segment processes corn and other grains (including rye, barley, wheat, barley malt, and milo) into food-grade alcohol and distillery co-products, such as distillers feed, which are produced at its distilleries in Lawrenceburg, Indiana, and Bardstown, Kentucky. Branded Spirits segment consists of a portfolio of brands, which it produces through its distilleries and bottling facilities and sells to distributors or to state governments that directly control the sale of alcohol. Its Ingredient Solutions segment consists of specialty wheat starches, specialty wheat proteins, commodity wheat starches, and commodity wheat protein products which are sold to customers pursuant to purchase orders.
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