MGP Ingredients Q1 2026: Sales Down, Earnings Up

MGP Ingredients reported Q1 2026 earnings with $106.4M in sales, down from last year but meeting expectations. Adjusted EBITDA hit $15M and EPS was $0.15, both exceeding forecasts. Branded Spirits saw growth in premium plus lines, with Penelope Bourbon up 10% YoY. Ingredient Solutions sales surged 29% to $34.2M, with gross profit up 56% due to improved efficiency. Distilling Solutions added new customers and aged whiskey growth. However, a $179.5M non-cash impairment led to a net loss of $134.8M. The Kentucky distillery will temporarily idle 33 employees in May. Guidance remains steady: full-year sales $480-500M, adjusted EBITDA $90-98M, EPS $1.50-$1.80. The company is rationalizing tail brands and focusing on cost discipline. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ffe5c9d8ca977081