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MGPI MGP Ingredients

Founded in 1941, MGP is a leading supplier of premium distilled spirits and specialty wheat proteins and starches. Distilled spirits include bourbon and rye whiskeys, gins and vodkas, which are expertly crafted through a combination of art and science and backed by a long history of experience. The company's proteins and starches are created in the same manner and provide a host of functional, nutritional and sensory benefits for a wide range of food products. MGP additionally is a top producer of high quality industrial alcohol for use in both food and non-food applications. The company is headquartered in Atchison, Kansas, where distilled alcohol products and food ingredients are produced. Premium spirits are also distilled and matured at the company's facility in Lawrenceburg, Indiana.

Company profile

Ticker
MGPI
Exchange
CEO
David Colo
Employees
Incorporated
Location
Fiscal year end
Former names
MIDWEST GRAIN PRODUCTS INC
SEC CIK
IRS number
480531200

MGPI stock data

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Calendar

5 May 21
2 Aug 21
31 Dec 21
Quarter (USD)
Mar 21 Dec 20 Sep 20 Jun 20
Revenue
Cost of revenue
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 22.59M 22.59M 22.59M 22.59M 22.59M 22.59M
Cash burn (monthly) (positive/no burn) 1.67M (positive/no burn) (positive/no burn) (positive/no burn) (positive/no burn)
Cash used (since last report) n/a 6.86M n/a n/a n/a n/a
Cash remaining n/a 15.73M n/a n/a n/a n/a
Runway (months of cash) n/a 9.4 n/a n/a n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
13 Jul 21 Seaberg Karen Common Stock Sell Dispose S Yes Yes 65.5071 764 50.05K 191,985
13 Jul 21 Seaberg Karen Common Stock Sell Dispose S Yes Yes 65.5071 2,963 194.1K 2,340,357
12 Jul 21 Seaberg Karen Common Stock Sell Dispose S Yes Yes 65.3151 3,234 211.23K 2,343,320
1 Jul 21 Dunn Terrence P Common Stock Grant Aquire A No No 67.64 284 19.21K 6,463
1 Jul 21 Bareuther James L Common Stock Grant Aquire A No No 67.64 56 3.79K 4,636
1 Jul 21 Seaberg Karen Common Stock Grant Aquire A No No 67.64 443 29.96K 2,687
1 Jul 21 Jenkins Lynn Common Stock Grant Aquire A No No 67.64 155 10.48K 5,739

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 0 0
Opened positions 0 0
Closed positions 0 0
Increased positions 0 0
Reduced positions 0 0
13F shares
Current Prev Q Change
Total value 0 0
Total shares 0 0
Total puts 0 0
Total calls 0 0
Total put/call ratio
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Financial report summary

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Competition
Alto Ingredients
Risks
  • RISKS THAT AFFECT OUR BUSINESS AS A WHOLE
  • An interruption of operations or a catastrophic event at our facilities could negatively affect our business.
  • A disruption in transportation services could negatively affect our business.
  • Our profitability is affected by the costs of grain, wheat flour, and natural gas, or input costs, that we use in our business, the availability and costs of which are subject to weather and other factors beyond our control. We may not be able to recover the costs of commodities and energy by increasing our selling prices.
  • We have a high concentration of certain raw material and finished goods purchases from a limited number of suppliers which exposes us to risk.
  • The markets for our products are very competitive, and our business could be negatively affected if we do not compete effectively.
  • Work disruptions or stoppages by our unionized workforce could cause interruptions in our operations.
  • If we were to lose any of our key management personnel, we may not be able to fully implement our strategic plan, our system of internal controls could be impacted.
  • Covenants and other provisions in our credit arrangements could hinder our ability to operate. Our failure to comply with covenants in our credit arrangements could result in the acceleration of the debt extended under such agreements, limit our liquidity, and trigger other rights of our lenders.
  • Product recalls or other product liability claims could materially and negatively affect our business.
  • We are subject to extensive regulation and taxation, as well as compliance with existing or future laws and regulations, which may require us to incur substantial expenditures.
  • A failure of one or more of our key information technology ("IT") systems, networks, processes, associated sites, or service providers could have a negative impact on our business.
  • Damage to our reputation, or that of any of our key customers or their brands, could affect our business performance.
  • We may not be able to adequately protect our intellectual property rights or may be accused of infringing intellectual property rights of third parties.
  • Our business may suffer from risks related to acquisitions and potential future acquisitions.
  • RISKS SPECIFIC TO OUR DISTILLERY PRODUCTS SEGMENT
  • The relationship between the price we pay for grain and the sales prices of our distillery co-products can fluctuate significantly and negatively impact our business.
  • Our strategic plan involves significant investment in the aging of barreled distillate. Decisions concerning the quantity of maturing stock of our aged distillate could materially affect our future profitability.
  • If the brands we develop or acquire do not achieve consumer acceptance, our growth may be limited, which could have a material adverse impact on our business, financial condition, or results of operations.
  • Warehouse expansion issues could negatively impact our operations and our business.
  • A change in public opinion about alcohol could reduce demand for our products.
  • RISKS SPECIFIC TO OUR INGREDIENT SOLUTIONS SEGMENT
  • Our focus on higher margin specialty ingredients may make us more reliant on fewer, more profitable customer relationships.
  • RISKS RELATED TO OUR COMMON STOCK
Management Discussion
  • (a) Percentage points (“pp”).
  • Sales - Sales for quarter ended March 31, 2021 were $108,323, an increase of 9.3 percent compared to the year-ago quarter, which was the result of increased sales in both the Distillery Products and Ingredient Solutions segments. Within the Distillery Products segment, sales were up 11.5 percent, primarily due to an increase in the sales of brown goods within premium beverage alcohol. Within the Ingredient Solutions segment, sales were up 0.3 percent, primarily due to increased sales of commodity wheat starches, partially offset by specialty wheat proteins (see Segment Results).
  • Gross profit - Gross profit for quarter ended March 31, 2021 was $32,299, an increase of 39.2 percent compared to the year-ago quarter. The increase was driven by an increase in gross profit in Distillery Products segment, partially offset by a decrease in gross profit in the Ingredient Solutions segment. In the Distillery Products segment, gross profit increased by $10,082, or 55.2 percent. In the Ingredient Solutions segment, gross profit decreased by $994, or 20.0 percent (see Segment Results).
Content analysis
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