Shares of MGP Ingredients Inc. (MGPI) are soaring 7.70% in pre-market trading on Thursday following the release of the company's first quarter 2025 earnings report. The stock's surge comes despite a net loss for the quarter, as investors appear to focus on better-than-expected revenue and management's reaffirmation of the full-year outlook.

For the first quarter ended March 31, 2025, MGP Ingredients reported adjusted earnings per share of $0.36, in line with analyst expectations. While this represents a significant decrease from $1.07 per share in the same quarter last year, the company's revenue performance caught investors' attention. Sales came in at $121.65 million, surpassing the analyst consensus estimate of $119.20 million, despite a 28.7% year-over-year decline. The company reported a net loss of $3.1 million for the quarter.

Brandon Gall, Interim President and CEO, and CFO of MGP Ingredients, commented on the results, stating, "We are pleased with first quarter results that keep us on track to meet our full-year guidance. While elevated industry-wide barrel whiskey inventories and a cautious consumer environment remain as headwinds, we saw signs of positive progress across all three of our business segments." The company reaffirmed its full-year 2025 outlook, projecting sales in the range of $520 million to $540 million and adjusted EPS between $2.45 and $2.75. This reaffirmation, coupled with the revenue beat, seems to have boosted investor confidence, driving the stock's pre-market rally.