MGP Ingredients, Inc. reported financial results for the third quarter ended September 30, 2026, and announced a quarterly dividend of $0.12 per share. The company also reaffirmed its full-year 2026 guidance and confirmed its name change to Sempreon, Inc., effective November 2, 2026.
For the third quarter of 2026, consolidated sales decreased 10% to $117.9 million compared to the prior year. Gross profit declined 18% to $40.5 million, resulting in a gross margin of 34.3%. Net income was $6.9 million, with basic earnings per share (EPS) of $0.32. On an adjusted basis, net income was $8.6 million and adjusted basic EPS was $0.39. Adjusted EBITDA for the quarter was $21.5 million, a decrease of 33% from the prior year. The company reported year-to-date operating cash inflows of $39.8 million, excluding a $48.7 million earnout payment, and a net debt leverage ratio of approximately 3.6x as of September 30, 2026.
MGP Ingredients reaffirmed its consolidated guidance for fiscal 2026, projecting sales between $480 million and $500 million. Adjusted EBITDA is expected to be between $90 million and $98 million. Adjusted basic EPS is forecasted in the range of $1.50 to $1.80, with weighted average basic shares outstanding of approximately 21.4 million. The company anticipates an effective tax rate of approximately 23% and full-year capital expenditures of approximately $20 million.
The company’s Board of Directors declared a dividend of $0.12 per share of common stock. This dividend is payable on November 27, 2026, to stockholders of record as of November 13, 2026.
During the quarter, the company continued to execute against its strategic roadmap, reducing total debt by $28.4 million. Segment performance included Penelope Bourbon sales growing 12% and mid-priced brands growing 6% in the Branded Spirits segment. Distilling Solutions faced an oversupplied market, while Ingredient Solutions grew sales by 5%.
