Filing Flows › MGP Ingredients (MGPI) › How it makes money
How MGP Ingredients (MGPI) makes money
MGP Ingredients (MGPI) made $118M of revenue in the third quarter 2026 (Q3 2026), -10% from a year earlier. Branded Spirits brought in $58.2M (49%); Ingredient Solutions brought in $30.8M (26%); Distilling Solutions brought in $29.0M (25%). Of every dollar of revenue, 34¢ was left as gross profit, 10¢ was left as operating profit, 6¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Branded Spirits | $58.2M | 49.4% | -2% | -4% |
| Ingredient Solutions | $30.8M | 26.1% | -13% | +5% |
| Distilling Solutions | $29.0M | 24.6% | -0.9% | -29% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $118M | 100.0% |
| Cost of revenue | $77.5M | 65.7% |
| Gross profit | $40.5M | 34.3% |
| Operating expenses | $28.4M | 24.1% |
| Operating profit | $12.0M | 10.2% |
| Income tax | $2.0M | 1.7% |
| Net earnings | $6.9M | 5.8% |
| Operating cash flow | $31.9M | 27.0% |
| Free cash flow | $27.2M | 23.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $118M | -10% |
| Q2 2026 | $124M | -14% |
| Q1 2026 | $106M | -12% |
| Q4 2025 | $138M | -24% |
| Q3 2025 | $131M | -19% |
| Q2 2025 | $145M | -24% |
| Q1 2025 | $122M | -29% |
From MGP Ingredients' 10-Q filed Oct 28, 2026 (on EDGAR).
Questions
How does MGP Ingredients make money?
MGP Ingredients (MGPI) made $118M of revenue in the third quarter 2026 (Q3 2026), -10% from a year earlier. Branded Spirits brought in $58.2M (49%); Ingredient Solutions brought in $30.8M (26%); Distilling Solutions brought in $29.0M (25%). Of every dollar of revenue, 34¢ was left as gross profit, 10¢ was left as operating profit, 6¢ was left as net earnings.
What is MGP Ingredients' biggest business?
Branded Spirits: $58.2M in the third quarter 2026, 49% of revenue, -4% from a year earlier.
What is MGP Ingredients' profit margin?
Net earnings were $6.9M, 5.8% of revenue, in the third quarter 2026; the operating margin was 10.2%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.