MGP Ingredients Inc (OQ:MGPI)
Business Focus: Distillers & Wineries
| Sector: Consumer Non-Cyclicals | Industry: Distillers & Wineries |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 1300 Main St ATCHISON KS 66002 |
| Tel: | 1-646-4752998 |
| Website: | https://www.mgpingredients.com |
| IR: | See website |
| Key People | ||
| David S. Bratcher President, Chief Executive Officer, Director | Brandon M. Gall Chief Financial Officer, Vice President - Finance | Erika Lapish Chief Human Resource Officer, Vice President |
| Curtis Landherr Chief Legal Officer, Vice President, Corporate Secretary | Stephen J. Glaser Vice President - Production and Engineering | Michael Rodger Buttshaw Vice President - Ingredient Solutions Sales, Research and Development | Amel Pasagic Chief Commercial Officer |
| Business Overview |
| MGP Ingredients, Inc. is a producer and supplier of distilled spirits, branded spirits, and food ingredients. The Company operates through three segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. The Distilling Solutions segment consists of food grade alcohol and distillery co-products, such as distillers feed, fuel grade alcohol, and corn oil. This segment also includes warehouse services, including barrel put away, storage, and retrieval services, as well as blending services. The Branded Spirits segment consists of a portfolio of high-quality brands, which it produces through its distilleries and bottling facilities and sell to distributors pursuant to customer contracts and purchase orders. Its Ingredient Solutions segment consists primarily of specialty wheat starches, specialty wheat proteins, commodity wheat starches, and commodity wheat proteins. It is also a producer of industrial alcohol for use in both food and non-food applications. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, MGP Ingredients Inc revenues increased 7% to $836.5M. Net income applicable to common stockholders decreased 2% to $106.4M. Revenues reflect Branded Spirits segment increase of 42% to $253.9M, Distillery Products segment increase of 5% to $450.9M. Net income was offset by Advertising and promotion expense increase of 29% to $38.2M (expense), Interest expense. |
| Employees: | 705 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,983M as of Dec 31, 2023 |
| Annual revenue (TTM): | $836.52M as of Dec 31, 2023 |
| EBITDA (TTM): | $192.18M as of Dec 31, 2023 |
| Net annual income (TTM): | $106.40M as of Dec 31, 2023 |
| Free cash flow (TTM): | $17.84M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $268.86M as of Dec 31, 2023 |
| Shares outstanding: | 22,008,377 as of Mar 25, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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