MGP Ingredients (NASDAQ:MGPI) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$161.5m (down 24% from 3Q 2023).

• Net income: US$24.2m (up 85% from 3Q 2023).

• Profit margin: 15% (up from 6.2% in 3Q 2023). The increase in margin was driven by lower expenses.

• EPS: US$1.10 (up from US$0.59 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

MGP Ingredients EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.7%.

Looking ahead, revenue is expected to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Beverage industry in the US are expected to grow by 4.6%.

Performance of the American Beverage industry.

The company's shares are down 16% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on MGP Ingredients' balance sheet.

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