v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Income Statement [Abstract]    
Sales $ 121,653 $ 170,563
Cost of sales 78,323 107,768
Gross profit 43,330 62,795
Advertising and promotion expenses 8,172 8,683
Selling, general, and administrative expenses 21,205 20,979
Impairment of long-lived assets and other 0 116
Change in fair value of contingent consideration 14,700 4,100
Operating income (loss) (747) 28,917
Interest expense, net (1,854) (2,019)
Other income (expense), net 215 (52)
Income (loss) before income taxes (2,386) 26,846
Income tax expense 671 6,262
Net income (loss) (3,057) 20,584
Net loss attributable to noncontrolling interest 33 51
Net income (loss) attributable to MGP Ingredients, Inc. (3,024) 20,635
Income (loss) attributable to participating securities, basic 30 (239)
Income (loss) attributable to participating securities, diluted 30 (239)
Net income (loss) used in earnings per common share calculation, basic (2,994) 20,396
Net income (loss) used in earnings per common share calculation, diluted $ (2,994) $ 20,396
Weighted average common shares    
Basic (in shares) 21,342,531 22,142,277
Diluted (in shares) 21,342,531 22,142,277
Earnings per common share    
Basic (in dollars per share) $ (0.14) $ 0.92
Diluted (in dollars per share) $ (0.14) $ 0.92

Source