Key facts
- MGP Ingredients reported a 2% increase in sales for its Ingredient Solutions segment in the second quarter of 2026.
- The company reaffirmed its full-year 2026 guidance.
- A quarterly dividend of $0.12 per share was declared.
- Consolidated sales decreased 15% to $124.4 million in Q2 2026.
- Adjusted EBITDA decreased 23% to $27.6 million in Q2 2026.
MGP Ingredients, Inc. reported its second quarter 2026 results, highlighting a 2% increase in sales for its Ingredient Solutions segment, attributed to four new national customers and improved operational reliability. Despite this growth, consolidated sales decreased by 15% to $124.4 million, and gross margin declined to 37.4% from 40.1% in the prior year, largely due to higher waste starch stream costs. Adjusted EBITDA fell 23% to $27.6 million.
President and CEO Julie Francis expressed satisfaction with the results, noting that adjusted EBITDA and adjusted basic EPS exceeded expectations. She pointed to continued momentum in the premium plus portfolio, led by Penelope Bourbon and Yellowstone, and improvements in select mid- and value-priced brands. Francis also emphasized the company's ongoing strategic roadmap, efforts to drive efficiency, and disciplined execution.
The company reaffirmed its full-year 2026 guidance and declared a quarterly dividend of $0.12 per share. The results come after a challenging 2025, which saw significant decreases in consolidated sales, gross profit, and adjusted EBITDA, partly due to a non-cash adjustment related to goodwill and intangible assets. MGP Ingredients anticipates that elevated inventory levels will continue to pressure its brown goods business in the near term.