MGP Ingredients (MGPI) Tops Q4 EPS by 6c

MGP Ingredients (NASDAQ: MGPI) reported Q4 EPS of $0.76, $0.06 better than the analyst estimate of $0.70. Revenue for the quarter came in at $92.5 million versus the consensus estimate of $91.34 million.

“We are certainly disappointed in our results, both for the quarter and the year; however, we do not believe these results reflect significant changes in key consumer trends affecting the categories in which we compete, or significant changes in our competitive position within those categories,” said Gus Griffin, president and CEO of MGP Ingredients. “While we remain very confident about the long-term potential of our business, we also realize that we must continually refine the effectiveness of our tactical execution and the pace of our strategic implementation. We believe we have learnings from this year that will help us in both these areas.”

GUIDANCE:

MGP Ingredients sees FY2020 EPS of $2.03-$2.13, versus the consensus of $2.33.

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

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