MGP Ingredients Q1 Adj $1.07 Beats $0.98 Estimate, Sales $170.56M Miss $173.23M Estimate
Portfolio Pulse from Benzinga Newsdesk
MGP Ingredients (NASDAQ:MGPI) reported Q1 earnings of $1.07 per share, surpassing the $0.98 estimate, but sales of $170.56M fell short of the $173.23M forecast. This reflects a 23.02% decrease in earnings and a 15.15% drop in sales from the previous year.

May 02, 2024 | 11:31 am
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MGP Ingredients reported higher-than-expected Q1 earnings at $1.07 per share but missed sales estimates, with a significant year-over-year decrease in both metrics.
While beating earnings estimates typically has a positive impact on stock prices, the miss on sales forecasts and the significant decrease in both earnings and sales compared to the previous year could temper investor enthusiasm. The mixed results present a neutral outlook in the short term as investors weigh the positive earnings surprise against the sales miss and year-over-year declines.
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