MGP INGREDIENTS INC

Listed Company

MGPICIK 0000835011NasdaqAcceleratedWholesale-Beer, Wine & Distilled Alcoholic BeveragesKansasFY ends Dec 31

Period

FY 2025

Revenue

$536.38M

Net Income

$-107.81M

Total Assets

$1.24B

Equity

$718.44M

Shares Out

21.37M

Op. Cash Flow

$121.53M

Business

MGP INGREDIENTS INC produces distilled spirits and food ingredient solutions for beverage and food manufacturers and consumers. It offers premium and value branded spirits (bourbon, rye, whiskey, vodka, gin, tequila and related brands), grain neutral spirits and warehousing/blending services, as well as specialty and commodity wheat starches and proteins under brands such as Fibersym®, Arise® and Proterra®. The company operates three segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. Products are sold directly, through distributors, to manufacturers, processors, retailers, state-controlled channels and international customers.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Sales	536	704	837	782	627
Cost of sales	337	417	532	529	428
Gross profit	199	286	305	253	199
Advertising and promotion expenses	31	41	38	30	16
Selling, general, and administrative expenses	85	81	91	75	73
Impairment of long-lived assets and other	0	137,000	19	—	—
Goodwill and indefinite-lived intangible asset impairment	153	74	0	—	—
Change in fair value of contingent consideration	26	16	7	0	0
Operating income (loss)	−95	74	149	149	126
Interest expense, net	−7	−8	−7	−5	−4
Other income (expense), net	1	2	−220,000	−3	−1
Income (loss) before income taxes	−100	68	142	140	121
Income tax expense	7	34	35	31	30
Net income (loss)	−108	34	107	109	91
Net loss attributable to noncontrolling interest	23,000	198,000	345,000	590,000	490,000
Net income (loss) attributable to MGP Ingredients, Inc.	−108	35	107	109	91
Income (loss) attributable to participating securities, basic	−1	373,000	1	−871,000	−712,000
Income (loss) attributable to participating securities, diluted	−1	373,000	1	−871,000	−712,000
Net income (loss) used in earnings per common share calculation, basic	−107	34	106	109	91
Net income (loss) used in earnings per common share calculation, diluted	−107	34	106	109	91
Basic (in shares)	21	22	22	22	21
Diluted (in shares)	21	22	22	22	21
Basic (in dollars per share)	−4.99	1.56	4.82	4.94	4.37
Diluted (in dollars per share)	−4.99	1.56	4.8	4.92	4.37

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	18	25	18	48	22
Receivables (less allowance for credit loss of $1,190 and $1,875 at December 31, 2025 and 2024, respectively)	116	148	144	109	93
Inventory	383	365	347	290	246
Prepaid expenses	2	4	4	3	2
Refundable income taxes	3	3	1	4	6
Total current assets	523	546	514	454	367
Property, plant, and equipment, net	328	317	262	236	207
Operating lease right-of-use assets, net	14	16	14	15	10
Investment in joint venture	8	7	5	6	5
Intangible assets, net	245	268	272	217	219
Goodwill	116	248	322	226	226
Other assets	3	4	3	5	7
Total assets	1,236	1,406	1,392	1,158	1,041
Current maturities of long-term debt	6	6	6	6	3
Accounts payable	55	66	74	66	54
Contingent consideration	111	0	—	—	—
Federal and state excise taxes payable	6	5	2	5	7
Accrued expenses and other	23	14	32	29	25
Total current liabilities	200	92	114	105	89
Long-term debt, less current maturities	50	121	85	30	—
Convertible senior notes	196	196	196	195	—
Long-term operating lease liabilities	11	12	11	12	7
Contingent consideration	0	85	—	—	—
Other noncurrent liabilities	3	3	5	4	5
Deferred income taxes	60	63	63	67	66
Total liabilities	519	573	543	413	397
Commitments and Contingencies Note 11	—	—	—	—	—
Preferred, 5% non-cumulative; $10 par value; authorized 1,000 shares; issued and outstanding 437 shares	4,000	4,000	4,000	4,000	4,000
No par value; authorized 40,000,000 shares; issued 23,125,166 shares at December 31, 2025 and 2024; 21,294,315 and 21,194,707 shares outstanding at December 31, 2025 and 2024, respectively	7	7	7	7	7
Additional paid-in capital	331	332	325	319	316
Retained earnings	446	564	540	443	344
Accumulated other comprehensive loss	−373,000	−658,000	−397,000	−304,000	354,000
Treasury stock, at cost, 1,830,851 and 1,930,459 shares at December 31, 2025 and 2024, respectively	−65	−68	−21	−22	—
Total MGP Ingredients, Inc. stockholders equity	718	834	850	747	645
Noncontrolling interest	−2	−2	−1	−1	−490,000
Total equity	717	833	849	746	644
Total liabilities and equity	1,236	1,406	1,392	1,158	1,041

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	24	22	22	21	19
Share-based compensation	5	4	11	6	6
Equity method investment loss (gain)	−1	−2	337,000	2	2
Deferred income taxes, including change in valuation allowance	−3	359,000	−4	1	7
Other, net	831,000	465,000	728,000	194,000	145,000
Receivables, net	32	−4	−32	−17	−6
Inventory	−18	−18	−47	−44	−14
Prepaid expenses	2	−409,000	−481,000	−1	3
Income taxes payable (refundable)	239,000	−2	3	1	−6
Accounts payable	2	−9	−2	11	5
Accrued expenses and other	8	−15	348,000	2	738,000
Federal and state excise taxes payable	397,000	3	−2	−2	−1
Other, net	−330,000	−881,000	1	829,000	−75,000
Net cash provided by operating activities	122	102	84	89	88
Additions to property, plant, and equipment	−45	−71	−55	−45	−47
Purchase of business, net of cash acquired	0	0	−104	0	−149
Other, net	−37,000	−377,000	−263,000	320,000	−1
Net cash used in investing activities	−46	−72	−159	−48	−183
Payment of dividends and dividend equivalents	−10	−11	−11	−11	−10
Repurchase of Common Stock	−1	−49	−801,000	−715,000	−767,000
Loan fees paid related to borrowings	−3	0	0	0	−7
Proceeds from long-term debt	28	125	105	0	—
Principal payments on long-term debt	−97	−89	−48	−3	−2
Net cash provided by (used in) financing activities	−84	−24	46	−15	94
Effect of exchange rate changes on cash and cash equivalents	706,000	−32,000	34,000	−38,000	−25,000
Increase (decrease) in cash and cash equivalents	−7	7	−30	26	−94,000

Filings

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