MGP Ingredients sees Q3 EPS $1.29, consensus $1.44

Sees Q3 revenue $ $161.5M, consensus $185.29M…David Bratcher, CEO and president of MGP Ingredients (MGPI), said, “We are disappointed with our third quarter results and fourth quarter outlook. Soft alcohol spirits category trends and elevated industry-wide whiskey inventories are putting greater than expected pressure on our brown goods business with a larger impact on our smaller, craft customer base. We expect these industry headwinds to persist at least through the rest of the year and will share details about our 2025 outlook with our fourth quarter 2024 earnings release.”