MGP Ingredients Inc reports results for the quarter ended in September 30 - Earnings Summary

• MGP Ingredients Inc MGPI.OQ reported quarterly adjusted earnings of $1.29​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 58 cents. The mean expectation of six analysts for the quarter was for earnings of $1.25 per share. Wall Street expected results to range from $1.12 to $1.29 per share.

• Revenue fell 23.7% to $161.46 million from a year ago; analysts expected $161.55 million.

• MGP Ingredients Inc's reported EPS for the quarter was $1.07​.

• The company reported quarterly net income of $23.65 million.

• MGP Ingredients Inc shares had fallen by 32.4% this quarter and lost 42.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 15.2% in the last three months.​

• In the last 30 days, six analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the distillers & wineries peer group is also "buy"

Wall Street's median 12-month price target for MGP Ingredients Inc is $77.50

This summary was machine generated from LSEG data November 1 at 03:41 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)