MGP Ingredients (MGPI) shares fell more than 10% in recent Thursday trading after the company reported its quarterly results.
The firm reported Q3 adjusted earnings of $1.29 per diluted share, down from $1.34 a year earlier. Analysts polled by Capital IQ expected $1.23.
Sales for the quarter ended Sept. 30 were $161.5 million, down from $211.6 million a year ago. Analysts surveyed by Capital IQ expected $161.4 million.
MGP reaffirmed its recently revised guidance for fiscal 2024, expecting adjusted basic EPS of $5.55 to $5.65 on sales of $695 million to $705 million. Analysts expect sales of $699.2 million.
Price: 50.25, Change: -6.06, Percent Change: -10.76
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