MGP Ingredients
Sells spirits brands, contract distilling, and specialty wheat ingredients.
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Profile
Produces branded spirits, contract and bulk distilled alcohol, warehouse services, and specialty wheat starches and proteins. The business is US-centered and currently shaped by American whiskey oversupply, while Ingredient Solutions offsets part of the spirits-cycle pressure.
Spans Branded Spirits, Distilling Solutions, and Ingredient Solutions. Branded Spirits sells bourbon, tequila, vodka, liqueur, and other spirits brands through distributors and control-state governments. Distilling Solutions turns corn and other grains into food-grade alcohol, brown goods, warehouse services, and co-products.
Ingredient Solutions sells specialty and commodity wheat starches and proteins. The footprint is US-centered, with Atchison roots, the Lawrenceburg whiskey platform, and a brand portfolio expanded through Luxco and Penelope.
The model combines owned spirits brands, customer distilling, grain processing, and wheat-ingredient production. Current performance depends on American whiskey supply-demand balance, control-state alcohol channels, and demand for specialty wheat starches and proteins.
Company facts
Categories
Key statistics
Year to date −30.1% · Average volume (30d) 170.8K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 8, 2026 | Wells Fargo | Reiterate | Overweight | $29 | $21 | |
| Jan 5, 2026 | Wells Fargo | Reiterate | Overweight | $118 | $29 | |
| Feb 27, 2025 | Lake Street | Upgrade | Hold | Buy | ||
| Nov 6, 2024 | TD Cowen | Downgrade | Buy | Hold | ||
| Oct 18, 2024 | Lake Street | Downgrade | Buy | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $0.49 | $0.72 | +46.9% | $125.2M | $124.4M | −0.6% | −6.04% |
| Apr 29, 2026Q1 FY26 | $0.04 | $0.15 | +275.0% | $105.3M | $106.4M | +1.1% | +4.07% |
| Feb 25, 2026Q4 FY25 | $0.49 | $0.63 | +28.6% | $132.9M | $138.3M | +4.1% | −2.75% |
| Oct 29, 2025Q3 FY25 | $0.62 | $0.85 | +37.1% | $132.8M | $130.9M | −1.5% | −2.03% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $121.7M | $145.5M | $130.9M | $138.3M | $106.4M | $124.4M | |
| Gross profit | $43.3M | $58.4M | $49.4M | $48.3M | $33.6M | $46.5M | |
| Operating income | −$747.0K | $20.3M | $21.0M | −$135.2M | −$173.2M | $19.8M | |
| Net income | −$3.0M | $14.4M | $15.4M | −$134.6M | −$134.8M | $12.0M | |
| Diluted EPS | −$0.14 | $0.67 | $0.71 | −$6.22 | −$6.30 | $0.55 | |
| Gross margin | 35.6% | 40.1% | 37.8% | 34.9% | 31.6% | 37.4% | |
| Operating margin | -0.6% | 14.0% | 16.1% | -97.7% | -162.7% | 15.9% |
Fiscal years (4-quarter sums)FY21 $626.7M · FY22 $782.4M · FY23 $836.5M · FY24 $703.6M · FY25 $536.4M
Revenue by product · Q2 FY26
Revenue by geography · FY25
Balance sheet, Jun 30, 2026Cash & short-term investments $17.8M · Total debt $377.8M · Total assets $1.06B · Shareholders' equity $590.8M
Dividends
Raised for 15 straight years. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 14, 2026 | Aug 14 | Aug 28 | $0.12 | |
| May 15, 2026 | May 15 | May 29 | $0.12 | |
| Mar 13, 2026 | Mar 13 | Mar 27 | $0.12 | |
| Nov 14, 2025 | Nov 14 | Nov 28 | $0.12 | |
| Aug 15, 2025 | Aug 15 | Aug 29 | $0.12 | |
| May 16, 2025 | May 16 | May 30 | $0.12 | |
| Mar 14, 2025 | Mar 14 | Mar 28 | $0.12 | |
| Nov 15, 2024 | Nov 15 | Nov 29 | $0.12 |
Ownership
Shares outstanding 21.41M · Float 14.45M · 67.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Ann S. Lux 2005 Irrevocable Trust FBO Caroline Lux Kaplan dated 9/16/2005 | 6.68M | 31.40% | 13D | Dec 12, 2025 |
| Integrated Wealth Concepts LLC | 2.51M | 11.70% | 13F | Aug 12, 2026 |
| Donn S. Lux · director, 10 percent owner: | 2.44M | 11.39% | Form 4 | May 15, 2025 |
| Karen Seaberg | 2.07M | 9.70% | 13D | Dec 11, 2025 |
| BlackRock, Inc. | 1.11M | 5.20% | 13G | Jul 29, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 20, 2026 | Paul S. Lux | 10 percent owner, other: Member of 10% holder group | −33,000 | $17.76 |
| May 27, 2026 | Caroline Lux Kaplan | 10 percent owner | −30,000 | $18.18 |
| May 26, 2026 | Caroline Lux Kaplan | 10 percent owner | −30,000 | $17.82 |
| Dec 10, 2025 | Karen Seaberg | director | −81,616 | $25.84 |
| Dec 9, 2025 | Karen Seaberg | director | −181,095 | $24.24 |
Peers
- Diageo (ADR)
Global spirits house overlapping in tequila and American whiskey
- Ingredion
Ingredient-solutions peer in starches and plant proteins
- Alto
Specialty alcohol peer for beverage GNS and co-products
- Constellation Brands
Premium beverage owner with High West whiskey and Casa Noble tequila
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| MGP Ingredients | $16.85 | +0.12% | $360.8M | — | 10.1 | 0.7 | −14.5% |
| Diageo (ADR) | $92.99 | +0.05% | $51.69B | 29.5 | — | 2.6 | −2.6% |
| Ingredion | $104.00 | −0.54% | $6.60B | 11.4 | 9.5 | 0.9 | +0.9% |
| Alto | $4.02 | −1.47% | $315.4M | 6.1 | 15.2 | 0.3 | +12.5% |
| Constellation Brands | $130.80 | +0.08% | $22.32B | 12.5 | 11.0 | 2.5 | −3.3% |
| Median | 11.9 | 11.0 | 1.7 | −0.8% |