MGP Ingredients (MGPI) Tops Q3 EPS by 1c, Revenues Beat

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MGP Ingredients Reports Third Quarter 2018 Results

November 1, 2018 7:30 AM EDT

ATCHISON, Kan., Nov. 01, 2018 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq/MGPI), a leading supplier of premium distilled spirits and specialty wheat proteins and starches, today reported results for the third quarter ended September 30, 2018.

2018 third quarter results compared to 2017 third quarter results

Consolidated net sales increased 10.1% to $95.0 million, reflecting growth in both the Distillery Products and Ingredient Solutions segments.Consolidated gross profit increased 5.2% to $19.6 million from $18.6 million, driven by gross profit growth in the Ingredient Solutions segment, partially offset by a decline in the Distillery Products segment.Consolidated operating income... More