Earnings Releases·Oct 28, 2026, 7:31 AM ET

MGP Ingredients — Third Quarter 2026 Earnings Summary

Consolidated sales declined 10% year-over-year to $117.9 million, while adjusted EBITDA fell 33% to $21.5 million and net debt leverage increased to 3.6x from 1.8x in the prior year period.
The company reaffirmed full-year 2026 guidance projecting sales of $480–$500 million, adjusted EBITDA of $90–$98 million, and adjusted basic EPS of $1.50–$1.80.
Strategic updates include a confirmed name change to Sempreon, Inc. with a new Nasdaq ticker "CASK" effective November 2, 2026, and a quarterly dividend declaration of $0.12 per share.
Segment performance was mixed: Branded Spirits sales decreased 4% due to distributor cutovers, Distilling Solutions sales dropped 29% amid elevated barrel inventories, while Ingredient Solutions sales rose 5% despite margin pressure from waste starch costs and operational downtime.
Capital expenditures year-to-date were $11.0 million, and the company reduced total debt by $28.4 million during the quarter, though year-to-date operating cash outflows were $8.9 million inclusive of a $48.7 million Penelope earnout payment.