MGP Ingredients (NASDAQ: MGPI) reported Q4 EPS of $0.48, $0.09 better than the analyst estimate of $0.39. Revenue for the quarter came in at $81.1 million versus the consensus estimate of $81.15 million.

2017 and Long Term Guidance

MGP is providing the following guidance for fiscal 2017 and beyond.

• Reconfirming previous guidance, operating income is expected to grow between 10% and 15% annually from 2016 through 2018. This guidance excludes a favorable litigation settlement and asset sale gain recorded in the third quarter of 2016.
• Recognizing the difficulty of projecting three years in the future, our conservative estimate of growth in operating income in 2019 is 15% to 20% as sales of aged whiskey inventory becomes a more significant factor.
• Modest growth is expected in net sales in 2017, subject to some volatility as the company continues to shift sales from industrial to premium beverage alcohol.
• 2017 gross margins are expected to continue to grow versus 2016.
• 2017 effective tax rate is forecast to be 31%, and shares outstanding are expected to be approximately 16.8 million at year end.
• 2017 profitability for ICP remains exposed to the challenging and volatile conditions in the fuel ethanol industry.

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