MGP: Q2 Earnings Snapshot

ATCHISON, Kan. (AP) — ATCHISON, Kan. (AP) — MGP Ingredients Inc. (MGPI) on Thursday reported second-quarter earnings of $31.8 million.

The Atchison, Kansas-based company said it had profit of $1.44 per share. Earnings, adjusted for non-recurring costs, came to $1.49 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The producer of distillery and ingredients products used by the packaged goods industry posted revenue of $209 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $205.5 million.

MGP expects full-year earnings in the range of $5.35 to $5.50 per share, with revenue in the range of $815 million to $835 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGPI at https://www.zacks.com/ap/MGPI