MGP Ingredients Inc reports results for the quarter ended March 31 - Earnings Summary

• MGP Ingredients Inc MGPI.OQ reported quarterly adjusted earnings of 36 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of $1.07. The mean expectation of six analysts for the quarter was for earnings of 36 cents per share. Wall Street expected results to range from 20 cents to 48 cents per share.

• Revenue fell 28.7% to $121.56 million from a year ago; analysts expected $119.20 million.

• MGP Ingredients Inc's reported EPS for the quarter was a loss of 14 cents​.

• The company reported a quarterly loss of $3.02 million.

• MGP Ingredients Inc shares had risen by 0.3% this quarter and lost 25.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 40.4% in the last three months.​

• In the last 30 days, two 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 $39.00

This summary was machine generated from LSEG data May 1 at 01:31 p.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)