Filing Flows › MGP Ingredients (MGPI) › Q3 2026
MGP Ingredients (MGPI) Q3 2026 earnings results (third quarter 2026)
10-Q filed Oct 28, 2026
MGP Ingredients (MGPI) reported revenue of $118M for the third quarter 2026 (Q3 2026), -10% from a year earlier and -5% from the quarter before. Operating margin was 10.2%, net earnings $6.9M (5.8% of revenue).
MGP Ingredients, Q3 2026: revenue $118M (-10% year over year), operating margin 10.2%, net earnings $6.9M, operating cash flow $31.9M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $118M | -5% | -10% |
| Gross profit | $40.5M | -13% | -18% |
| Operating profit | $12.0M | -32% | -43% |
| Net earnings | $6.9M | -43% | -55% |
| Operating cash flow | $31.9M | — | -12% |
| Free cash flow | $27.2M | — | -1% |
What changed
Revenue was $117.9M in Q3 2026, down 10% year over year and down 5% from the previous quarter. Branded Spirits was the largest line at 49% of revenue. Distilling Solutions lost $11.9M year over year (down 29%), 92% of the total change.
Gross margin was 34.3%, down 3.4 points from Q3 2025. Operating profit was $12.0M, a 10.2% margin (down 5.9 points year over year). Operating expenses grew 0% against a revenue fall of 10%. The fastest-growing cost line was SG&A (+14%). Net earnings were $6.9M, down 55% year over year. The effective tax rate was 22.9%.
Operating cash flow was $31.9M (down 12% year over year), 463% of net earnings. Non-cash charges added back $6.4M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $16.9M. Capital expenditures of $4.7M left free cash flow of $27.2M.
Questions
What was MGP Ingredients' revenue in the third quarter 2026?
MGP Ingredients (MGPI) reported revenue of $118M for the third quarter 2026 (Q3 2026), -10% from a year earlier and -5% from the quarter before.
Was MGP Ingredients profitable in the third quarter 2026?
Operating profit was $12.0M (10.2% of revenue) and net earnings $6.9M.
Source: MGP Ingredients 10-Q on SEC EDGAR.