MGP: Q4 Earnings Snapshot

Associated Press Finance
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ATCHISON, Kan. (AP) — ATCHISON, Kan. (AP) — MGP Ingredients Inc. (MGPI) on Thursday reported fourth-quarter earnings of $30.8 million.

The Atchison, Kansas-based company said it had profit of $1.39 per share. Earnings, adjusted for non-recurring costs, came to $1.64 per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.38 per share.

The producer of distillery and ingredients products used by the packaged goods industry posted revenue of $214.9 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $207.6 million.

For the year, the company reported profit of $106.4 million, or $4.80 per share. Revenue was reported as $836.5 million.

MGP expects full-year earnings in the range of $6.12 to $6.23 per share, with revenue in the range of $742 million to $756 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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