v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Income Statement [Abstract]        
Sales $ 145,494 $ 190,805 $ 267,147 $ 361,368
Cost of sales 87,107 107,573 165,430 215,341
Gross profit 58,387 83,232 101,717 146,027
Advertising and promotion expenses 6,913 11,665 15,085 20,348
Selling, general, and administrative expenses 23,156 22,759 44,361 43,738
Impairment of long-lived assets and other 0 21 0 137
Change in fair value of contingent consideration 8,000 5,400 22,700 9,500
Operating income 20,318 43,387 19,571 72,304
Interest expense, net (1,897) (2,205) (3,751) (4,224)
Other income, net 314 943 529 891
Income before income taxes 18,735 42,125 16,349 68,971
Income tax expense 4,308 10,108 4,979 16,370
Net income 14,427 32,017 11,370 52,601
Net loss (income) attributable to noncontrolling interest (1) 68 32 119
Net income attributable to MGP Ingredients, Inc. 14,426 32,085 11,402 52,720
Income attributable to participating securities, basic (159) (347) (127) (572)
Income attributable to participating securities, diluted (159) (347) (127) (572)
Net income used in earnings per common share calculation, basic 14,267 31,738 11,275 52,148
Net income used in earnings per common share calculation, diluted $ 14,267 $ 31,738 $ 11,275 $ 52,148
Weighted average common shares        
Basic (in shares) 21,360,984 22,119,227 21,351,809 22,130,752
Diluted (in shares) 21,360,984 22,119,227 21,351,809 22,130,752
Earnings per common share        
Basic (in dollars per share) $ 0.67 $ 1.43 $ 0.53 $ 2.36
Diluted (in dollars per share) $ 0.67 $ 1.43 $ 0.53 $ 2.36

Source