MGP: Q3 Earnings Snapshot

Associated Press Finance
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ATCHISON, Kan. (AP) — ATCHISON, Kan. (AP) — MGP Ingredients Inc. (MGPI) on Thursday reported third-quarter earnings of $13.1 million.

The Atchison, Kansas-based company said it had net income of 58 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.34 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The producer of distillery and ingredients products used by the packaged goods industry posted revenue of $211.6 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $210.1 million.

MGP expects full-year earnings in the range of $5.50 to $5.65 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

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