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- NasdaqGS:MGPI
MGP Ingredients Third Quarter 2024 Earnings: EPS Misses Expectations
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
While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on MGP Ingredients' balance sheet health.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NasdaqGS:MGPI
MGP Ingredients
Engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally.
Excellent balance sheet and good value.
