MGP Ingredients Reports Q3 2026 Decline in Revenue and EBITDA Amid Distilling Solutions Headwinds
MGP Ingredients (MGPI) reported a challenging third quarter for 2026, with revenue falling 10% year-over-year to $117.9 million. The decline was primarily driven by a 29% drop in Distilling Solutions sales, as an oversupplied market of 'brown goods' and elevated barrel inventories weighed heavily on both demand and pricing. Despite these headwinds, the company saw growth in its Ingredient Solutions segment due to specialty wheat protein demand and significant expansion in its Penelope brand. Management also successfully reduced total debt by $28.4 million during the quarter. While margins were pressured by higher waste-starch costs and maintenance expenses, MGP reaffirmed its full-year 2026 guidance for revenue and adjusted EBITDA.
Tickers: $MGPI
Topics: EBITDA decrease EPS miss Gross margin compression Revenue decline Segment performance