MGP Ingredients, Inc. (MGPI) Q2 2026 Earnings Call Transcript

MGP Ingredients, Inc. ( MGPI ) Q2 2026 Earnings Call July 29, 2026 10:00 AM EDT Company Participants Julie Francis - CEO, President & Director Brandon Gall - CFO & Treasurer Conference Call Participants Seamus Cassidy - TD Cowen, Research Division Marc Torrente - Wells Fargo Securities, LLC, Research Division Sean McGowan - ROTH Capital Partners, LLC, Research Division Mitchell Pinheiro - Sturdivant & Co., Inc., Research Division Benjamin Klieve - The Benchmark Company, LLC, Research Division Presentation Operator Good morning and welcome to the MGP Ingredients Second Quarter 2026 Earnings Conference Call with Julie Francis, President and CEO, and Brandon Gall, CFO. [Operator Instructions] Please also note this event is may involve certain forward-looking statements. The company's actual results could differ materially from any forward-looking statements due to a number of factors, including the risk factors described in the company's annual and quarterly reports filed with the SEC. The company assumes no obligation to update any forward-looking statements made during the call, except as required by law. This call will contain references to certain non-GAAP measures, which the company believes are useful in evaluating the company's performance. A reconciliation of these measures to the most comparable GAAP measures is included in today's earnings release, which was issued this morning before the markets opened and is available at www.mgpingredients.com. At this time, I would like to turn the call over to Julie Francis, President and CEO of MGP Ingredients. Please go ahead.

Julie Francis CEO, President & Director Good morning. I'd like to thank you all for joining us today on our second quarter 2026 earnings call. For the second quarter, sales came in at $124.4 million, down versus the prior year as expected. Adjusted EBITDA of $27.6 million and adjusted basic EPS of $0.72 also declined versus the second quarter of last year. However, both of these