MGP Ingredients, Inc. reported its first quarter 2025 financial results, showing a 29% decrease in consolidated sales to $121.7 million compared to the same period in 2024. The company also experienced a 31% drop in consolidated gross profit to $43.3 million, with the gross margin decreasing by 120 basis points to 35.6%. Additionally, MGP reported a net income decrease of 115%, resulting in a loss of $3.1 million. On an adjusted basis, net income fell by 68% to $7.8 million. Despite these declines, MGP reaffirmed its full-year 2025 financial outlook, maintaining its sales projection between $520 million and $540 million, and adjusted EBITDA between $105 million and $115 million. The company remains committed to its strategic initiatives, aiming to strengthen its position as a premier branded spirits company.
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