Welcome to our dedicated page for Mgp Ingredients news (Ticker: MGPI), a resource for investors and traders seeking the latest updates and insights on Mgp Ingredients stock.
MGP Ingredients, Inc. (Nasdaq: MGPI) is described in its news releases as a leading provider of branded and distilled spirits and food ingredient solutions, operating through three segments: Branded Spirits, Distilling Solutions, and Ingredient Solutions. The MGPI news feed on Stock Titan brings together company announcements, brand updates, and financial communications that reflect activity across these segments.
Investors and followers of MGPI can use this page to review earnings releases, outlook updates, and other financial communications the company issues, such as quarterly results and dividend declarations. These items provide insight into segment performance, trends in brown goods and branded spirits, and developments in the Ingredient Solutions business.
The news flow also highlights product and brand activity from MGP’s Branded Spirits division under the Luxco umbrella. Recent releases have covered new and returning expressions from brands like Rebel Bourbon, Penelope Bourbon, Remus Bourbon, and El Mayor Tequila, including flavored whiskeys, ready-to-pour cocktails, and specialty tequila offerings. These announcements give context on how MGP supports innovation and positioning within its premium spirits portfolio.
Corporate governance and leadership changes, such as board transitions and executive appointments, are also reported through MGPI news. Together, these updates help readers understand how MGP Ingredients manages its operations, develops its brands, and communicates with shareholders. Bookmark this page to quickly access MGPI-related earnings news, brand launches, and corporate announcements in one place.
Lux Row Distillers is set to release Blood Oath Pact 8, a Kentucky Straight Bourbon Whiskey finished in Calvados casks, this April. Limited to 17,000 cases, each 750 ml bottle is priced at $119.99. This unique bourbon features a blend of aged ryed bourbons, including 14-year and 11-year-old options, and promises distinct tasting notes of apples, pears, and butterscotch. The release includes 51,000 bottles, with 1,400 reserved for a future Trilogy Pack. Lux Row is part of MGP Ingredients, Inc. (NASDAQ: MGPI).
MGP Ingredients, Inc. (Nasdaq:MGPI) reported strong financial results for 2021, with consolidated sales up 58.5% year-over-year, totaling $626.7 million. The fourth-quarter sales rose 65.3% to $166.8 million. Gross profit for the full year increased 101.4% to $199.0 million. Operating income surged 133.0%, reaching $126.4 million. Fully diluted EPS improved to $4.34 from $2.37 in 2020. Looking ahead, MGP expects sales in 2022 to reach $690 million to $715 million and plans $33 million in expansion projects.
MGP Ingredients, Inc. (Nasdaq: MGPI) has declared a quarterly dividend of $0.12 per share, payable on March 25, 2022 to shareholders on record as of March 11, 2022. This demonstrates MGP's strong commitment to returning value to its shareholders. MGP is a prominent player in the distilled spirits and food ingredient sectors, operating multiple U.S. distilleries. The company's recent focus on integrating Luxco, Inc. aims to enhance operational efficiencies and product offerings.
MGP Ingredients (Nasdaq: MGPI) announced the construction of a new $16.7 million extrusion plant in Atchison, Kansas, to enhance in-house production of its ProTerra line of texturized proteins. Scheduled for completion by late 2023, the facility aims to produce up to 10 million pounds per year, addressing increasing demand and reducing reliance on co-packers. The plant's design is by 1 Solutions Group, which has partnered with MGP on previous projects. This investment is seen as a strategic move to gain more control over manufacturing and improve operational flexibility.
MGP Ingredients, Inc. (Nasdaq: MGPI) announced a $12 million expansion of its barrel warehouse to meet the rising demand for American whiskey. Located in Williamstown, Kentucky, this facility is set to enhance storage capacity and support sustainable growth. This is MGP's second major investment in distilled spirits recently, following a $4 million expansion of its Lux Row Distillers facility. Both projects aim to accommodate increased production, with expected completion by the end of 2022.
MGP Ingredients, Inc. (Nasdaq: MGPI) announced that its Arise® wheat protein isolates received low FODMAP certification from Monash University. This certification is significant as it indicates the product's suitability for those with gastrointestinal issues like IBS, affecting millions globally. MGP aims to address consumer trends in digestive health with high-quality, certified ingredients. The Arise line, which was expanded in 2016, supports health-conscious formulations and is designed to enhance various food applications, contributing to MGP's product portfolio.
MGP Ingredients (Nasdaq: MGPI) announced a conference call/webcast to discuss Q4 and full year results on February 24, 2022, at 10 a.m. ET. Financial results will be released before the market opens that morning. CEO David Colo and CFO Brandon Gall will lead the discussion. The call will be accessible via a webcast or conference call, with replay options available post-event. MGP Ingredients is a prominent producer of distilled spirits and food ingredient solutions, with operations in multiple states and a diverse branded spirits portfolio.
MGP Ingredients, Inc. (Nasdaq: MGPI) has announced an upcoming analyst and investor day on November 18, 2021, at its Lux Row Distillery in Bardstown, Kentucky. This virtual event will feature management presentations focusing on the company's strategic business plan, starting at 9:00 a.m. ET and lasting about three hours. Investors can access a live video webcast on the Investor Relations site, where presentation slides will also be posted.
MGP Ingredients, Inc. (Nasdaq: MGPI) announced the pricing of $175 million in 1.875% convertible senior notes due in 2041. The private offering to institutional buyers is set to close on November 16, 2021. The notes will pay semi-annual interest starting May 2022 and offer an initial conversion rate of 10.3911 shares per $1,000 principal amount, equating to a conversion price of approximately $96.24. Proceeds are estimated at $169.3 million, intended to reduce the company's revolving credit facility.
MGP Ingredients, Inc. (Nasdaq: MGPI) plans to offer $175 million of convertible senior notes due 2041 to qualified institutional buyers. An additional $26.25 million may be available for over-allotments. The notes, which will accrue semi-annual interest, allow for conversion into cash and/or common stock. Proceeds will primarily reduce the revolving credit facility's outstanding balance. The offering is subject to market conditions and will not be registered under the Securities Act.
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