MGP Ingredients Inc is a diversified food and beverage company that specializes in the production of premium ingredients and branded spirits
The company is renowned for its high-quality distilled spirits, including whiskey and vodka, while also providing a range of value-added ingredients such as protein, starches, and specialty grains for the food and beverage industry. With a commitment to innovation and sustainability, MGP Ingredients works closely with customers to develop solutions that meet specific market demands, contributing to the growth of both its own brand and the broader food and spirits sectors.
Let’s dig into the relative performance of PepsiCo (NASDAQPEP) and its peers as we unravel the now-completed Q3 beverages, alcohol, and tobacco earnings season.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the beverages, alcohol, and tobacco industry, including MGP Ingredients (NASDAQMGPI) and its peers.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Estée Lauder (NYSEEL) and the best and worst performers in the consumer staples industry.
Food and beverage supplier MGP Ingredients (NASDAQMGPI) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 23.7% year on year to $161.5 million. The company’s outlook for the full year was also close to analysts’ estimates with revenue guided to $700 million at the midpoint. Its non-GAAP profit of $1.29 per share was 4.6% above analysts’ consensus estimates.
Wedbush Securities reaffirms confidence in MGP Ingredients (MGPI), with a Buy rating and $120 price target. Analyst Gerald Pascarelli has a strong track record and highlights MGP's strong financials and adaptability in a dynamic market.
