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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