NasdaqGS:MGPIBeverage
MGP Ingredients (MGPI) Stock Drops As Margin Pressure Clouds Premium Spirits Progress
MGPI Ingredients just saw its stock drop 6% to US$17.74, even as the latest quarter marked a sharp reset from the heavy losses that have weighed on the story. The market is trading the headline move, but the earnings themselves tell a more nuanced tale.
Q2 delivered US$124.4m in revenue and basic earnings per share of US$0.55, along with adjusted earnings per share of US$0.72. For a company that has been unprofitable over the past year, that profit squeeze easing in the quarter is the real...