ATCHISON, Kan. (AP) — ATCHISON, Kan. (AP) — MGP Ingredients Inc. (MGPI) on Thursday reported third-quarter profit of $23.6 million.
The Atchison, Kansas-based company said it had profit of $1.07 per share. Earnings, adjusted for non-recurring costs, came to $1.29 per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The producer of distillery and ingredients products used by the packaged goods industry posted revenue of $161.5 million in the period.
MGP expects full-year earnings in the range of $5.55 to $5.65 per share, with revenue in the range of $695 million to $705 million.
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