MGP Ingredients, Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - MGP Ingredients, Inc. (MGPI) released earnings for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $15.23 million, or $0.71 per share. This compares with $23.65 million, or $1.07 per share, last year.

Excluding items, MGP Ingredients, Inc. reported adjusted earnings of $18.52 million or $0.85 per share for the period.

Analysts on average had expected the company to earn $0.60 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 18.9% to $130.91 million from $161.46 million last year.

MGP Ingredients, Inc. earnings at a glance (GAAP) :

-Earnings: $15.23 Mln. vs. $23.65 Mln. last year. -EPS: $0.71 vs. $1.07 last year. -Revenue: $130.91 Mln vs. $161.46 Mln last year.

-Guidance: Full year EPS guidance: $2.60 to $2.75 Full year revenue guidance: $525 to $535 Mln