MGP Ingredients (MGPI) Reports Q4 EPS of $0.74, Beats on Revenues

Note: EPS may not be comparable

MGP Ingredients (NASDAQ: MGPI) reported Q4 EPS of $0.74, versus $0.47 reported last year. Revenue for the quarter came in at $88.2 million versus the consensus estimate of $85.47 million.

• 2017 fourth quarter results compared to 2016 fourth quarter resultsConsolidated net sales increased 8.7% to $88.2 million, as a result of growth in premium beverage alcohol and specialty ingredients.
• Consolidated gross profit increased 11.0% to $19.5 million, reflecting improved gross profit results in both the Distillery Products and Ingredient Solutions segments.
• Consolidated gross margin increased 40 basis points to 22.1%, driven by a 50 basis point improvement in the Distillery Products segment.
• Net income increased 52.6% to $12.6 million, primarily due to the revaluation of the Company’s deferred income taxes in response to the Tax Cuts and Jobs Act ("Tax Act") becoming law in December of 2017.
• Earnings per share increased to $0.74 per share from $0.48 per share in the prior year period, primarily due to the deferred tax liability revaluation benefit resulting from the Tax Act.

For earnings history and earnings-related data on MGP Ingredients (MGPI) click here.

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