Filing Flows › MGP Ingredients (MGPI) › Q1 2025
MGP Ingredients (MGPI) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 1, 2025
MGP Ingredients (MGPI) reported revenue of $122M for the first quarter 2025 (Q1 2025), -29% from a year earlier and -33% from the quarter before. Operating margin was -0.6%, net loss $3.1M (2.5% of revenue).
MGP Ingredients, Q1 2025: revenue $122M (-29% year over year), operating margin -0.6%, net loss $3.1M, operating cash flow $44.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $122M | -33% | -29% |
| Operating profit | −$747K | — | — |
| Net earnings | −$3.1M | — | — |
| Operating cash flow | $44.7M | +55% | +81% |
| Free cash flow | $24.8M | +137% | — |
What changed
Revenue was $121.7M in Q1 2025, down 29% year over year and down 33% from the previous quarter. Branded Spirits was the largest line at 40% of revenue. Distilling Solutions lost $37.9M year over year (down 45%), 78% of the total change.
Gross margin was 35.6%, down 1.2 points from a year earlier. Operating costs exceeded revenue by $747K, an operating margin of -0.6%. Operating expenses grew 30% against a revenue fall of 29%. The fastest-growing cost line was Other operating costs (+77%). The quarter ended with a net loss of $3.1M, narrower than the previous quarter's $42.0M loss. Net interest and other expense of $1.6M was the main reason.
Operating cash flow was $44.7M (up 81% year over year). Non-cash charges added back $5.8M of depreciation and amortization and $742K of share-based compensation. Working capital and other items added $41.2M. Capital expenditures of $19.9M left free cash flow of $24.8M.
Questions
What was MGP Ingredients' revenue in the first quarter 2025?
MGP Ingredients (MGPI) reported revenue of $122M for the first quarter 2025 (Q1 2025), -29% from a year earlier and -33% from the quarter before.
Was MGP Ingredients profitable in the first quarter 2025?
Operating loss was $747K (-0.6% of revenue) and net loss $3.1M.
Source: MGP Ingredients 10-Q on SEC EDGAR.