MGP Ingredients

MGP Ingredients amended and restated its credit agreement and a note purchase agreement to change the definition of consolidated EBITDA. Through Dec. 31, 2027, losses on receivables from certain customers may be added back up to a total of $20.0 million, provided the customers are disclosed; amounts subsequently collected must be deducted retroactively. The credit package sets fixed financial covenants but allows a higher consolidated net leverage ratio during an Elevated Ratio Period; MGP has used this option because of earn-out obligations from the acquisition of Penelope Bourbon. The company also reported adjusted EPS of $0.72 for Q2 2026 (above expectations) on revenues of $124.4 million, slightly below estimates. » Mere på de.investing.com

MGP Ingredients reported consolidated revenue of $106.4m for Q1 2026 (‑13%) and adjusted EBITDA of $15.0m (‑31%); adjusted EPS fell to $0.15. The Distilling Solutions segment saw sales decline 40%, while Ingredient Solutions rose 29% and specialty proteins grew strongly. Operating cash flow plunged 85% to $6.9m, pressured by receivables, working capital and higher whiskey inventories. Management affirmed its full‑year guidance (revenue $480–500m, adjusted EBITDA $90–98m) and is pursuing cost reductions and portfolio focus; the stock fell sharply after the results. » Mere på de.investing.com

MGP Ingredients will pause distilling operations at Limestone Branch in Lebanon and Lux Row in Bardstown starting 1 May to align production with current inventory, affecting 33 employees. Distilling will continue at its Lawrenceburg, Indiana site while warehousing, bottling, barrel programs and visitor centres at the two Kentucky sites remain operational. The company may restart production within about 12 months when inventory supports it and reaffirmed its full-year 2026 guidance, noting an expected sales decline in Distilling Solutions. » Mere på finance.yahoo.com