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MGP INGREDIENTS INC (MGPI) filed an 8-K current report with the SEC on April 29, 2026 reporting Item 2.02 (Results of Operations and Financial Condition), Item EX-99.1 (Exhibit EX-99.1). Q1 2026 results for quarter ended March 31, 2026.
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AI summary of each reported item and its exhibits
Item 2.02 · Results of Operations and Financial Condition
- Q1 2026 results for quarter ended March 31, 2026
- Press release issued April 29, 2026
- Detailed financial results and management commentary in Exhibit 99.1
Item EX-99.1 · Exhibit EX-99.1
- Q1 sales fell 13% to $106.4M; adjusted EBITDA declined 31% to $15.0M, signaling continued operating pressure
- $179.5M non-cash impairment drove a $134.8M net loss and $(6.30) EPS, materially reducing reported equity and goodwill
- Distilling Solutions sales dropped 40%, with brown goods down 56%; Lux Row distillery equipment impairment and temporary idling add execution risk
- Ingredient Solutions sales rose 29% to $34.2M, while Branded Spirits premium-plus sales increased 1.5% and Penelope Bourbon grew 10%
- Management reaffirmed 2026 guidance: sales $480M-$500M, adjusted EBITDA $90M-$98M, adjusted EPS $1.50-$1.80, capex approximately $20M; dividend $0.12 per share
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