MGP Ingredients Expects Q3 Sales To Decline 24% To $161.5M vs $185.286M Est., Distilling Solution Segment Sales Expected To Decline 36%; Sees Adj. EPS $1.29 vs $1.44 Est.
Portfolio Pulse from Benzinga Newsdesk
MGP Ingredients anticipates a 24% decline in Q3 sales to $161.5 million, missing the estimated $185.286 million. The Distilling Solution segment is expected to see a 36% drop in sales. Adjusted EPS is projected at $1.29, below the $1.44 estimate.
October 17, 2024 | 8:11 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
MGP Ingredients projects a significant decline in Q3 sales and earnings, with sales expected to fall 24% and adjusted EPS to miss estimates.
The projected decline in sales and earnings below estimates is likely to negatively impact MGPI's stock price in the short term. The significant drop in the Distilling Solution segment further exacerbates the negative outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100