MGP Ingredients

Q2 FY2026 EarningsQ2 FY2026 results delivered a beat on the bottom line despite a mixed top-line performance. Revenue was $124.4M, slightly ahead of the $123.9M consensus, while Adjusted EPS of $0.72 significantly outperformed the $0.50 normalized expectation. Strong growth in premium bourbon brands (Penelope up 13%) and operational efficiencies in SG&A offset a 59% slump in Distilling Solutions brown goods. Management reaffirmed FY26 guidance, though a major goodwill impairment charge of $179.5M weighed heavily on GAAP results.