MGP Ingredients (MGPI) Tops Q4 EPS by 13c

MGP Ingredients (NASDAQ: MGPI) reported Q4 EPS of $0.69, $0.13 better than the analyst estimate of $0.56. Revenue for the quarter came in at $104.9 million versus the consensus estimate of $99.78 million.

GUIDANCE:

MGP Ingredients sees FY2019 EPS of $2.55-$2.65, versus the consensus of $2.45.

• 2019 net sales growth is projected in the mid-single-digit percentage range versus 2018, subject to some volatility due to the current conditions in the industrial alcohol market.
• 2019 gross margins are expected to increase modestly as compared to 2018.
• The Company’s estimate of growth in operating income in 2019 is 15% to 20% off of the higher than expected 2018 results.
• 2019 effective tax rate is forecasted to be approximately 21%, and shares outstanding are expected to be approximately 17 million at year end.

For earnings history and earnings-related data on MGP Ingredients (MGPI) click here.

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