MGP Hikes on Q2 Numbers

MGP Ingredients, Inc. (NASDAQ: MGPI) shares gained ground Thursday. The company, a leading provider of branded and distilled spirits and food ingredient solutions, today reported results for the second quarter ended June 30, 2025.Said CFO Brandon Gall, "Our second quarter results came in largely as expected as we delivered solid execution and sequential improvement across all three business segments. Our decisive actions to improve visibility with our customers are working as second quarter brown goods volume and price declines were in line with our expectations. “Our teams remain tightly focused on key initiatives and continue to execute on our strategic priorities, which I expect will position us well for the second half and give us the confidence to reaffirm our 2025 outlook.” Consolidated sales decreased 24% to $145.5 million.Consolidated gross profit decreased 30% to $58.4 million. Gross margin decreased by 350 basis points to 40.1%.Moreover, the company reported that net income decreased 55% to $14.4 million. On an adjusted basis, net income decreased 45% to $20.9 million.Basic earnings per common share (“EPS”) decreased to $0.67 per share from $1.43 per share. Adjusted basic EPS decreased 43% to $0.97 per share.Adjusted EBITDA decreased 38% to $35.9 million.Year-to-date capital expenditures declined 17% to $18.7 million compared to the year-ago period, while year-to-date operating cash flows increased $26.8 million to $56.4 million.MGPI shares began Thursday ahead 57 cents, or 1.9%, to $29.94