ATCHISON, Kan. (AP) — ATCHISON, Kan. (AP) — MGP Ingredients Inc. (MGPI) on Thursday reported fourth-quarter profit of $22.5 million.
On a per-share basis, the Atchison, Kansas-based company said it had net income of $1.01.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The producer of distillery and ingredients products used by the packaged goods industry posted revenue of $191 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $185.8 million.
For the year, the company reported profit of $108.6 million, or $4.92 per share. Revenue was reported as $782.4 million.
MGP expects full-year earnings in the range of $5.05 to $5.20 per share, with revenue in the range of $815 million to $835 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGPI at https://www.zacks.com/ap/MGPI
