MGP Ingredients, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on October 28, 2026, reporting a year-to-date net loss of $115,910 thousand alongside a $179,526 thousand goodwill and long-lived assets impairment charge.

Key Highlights

  • Year-to-date net loss: MGP reported a net loss attributable to MGP Ingredients, Inc. of $115,907 thousand for the nine months ended September 30, 2026, compared with net income of $26,824 thousand in the same period of 2025.
  • Goodwill impairment: The company recorded $179,526 thousand in goodwill and other long-lived assets impairment in the year-to-date period; goodwill on the balance sheet fell to $0 from $115,667 thousand at December 31, 2025.
  • Q3 net income: For the quarter ended September 30, 2026, net income attributable to MGP Ingredients, Inc. was $6,888 thousand, or $0.32 per basic and diluted share.
  • Year-to-date revenue decline: Sales for the nine months ended September 30, 2026 were $348,695 thousand, down from $398,059 thousand in the comparable 2025 period.
  • Provision for credit loss: The company recorded a $2,148 thousand provision for credit loss in the year-to-date period; no comparable charge was recorded in 2025.
  • Shares outstanding: As of October 23, 2026, there were 21,421,868 shares of common stock outstanding.
  • Contingent consideration settled: The contingent consideration liability of $110,800 thousand at December 31, 2025 was reduced to $0 by September 30, 2026.

MGP Ingredients Q3 2026 Financial Results: Impairment Drives Year-to-Date Loss

According to the filing, MGP Ingredients, Inc. (NASDAQ:MGPI) reported quarterly sales of $117,911 thousand for the three months ended September 30, 2026, down from $130,912 thousand in the third quarter of 2025. Gross profit for the quarter was $40,459 thousand, compared with $49,433 thousand a year earlier. Operating income for the quarter was $12,017 thousand, versus $21,016 thousand in the prior-year period. Net income for the quarter was $6,888 thousand, or $0.32 per basic and diluted share, compared with $15,422 thousand, or $0.71 per share, in Q3 2025.

For the nine months ended September 30, 2026, the company reported an operating loss of $143,532 thousand, driven primarily by an impairment and other charge of $180,791 thousand. The company disclosed that $179,526 thousand of this amount related to goodwill and other long-lived assets impairment. Goodwill on the condensed consolidated balance sheet was $0 at September 30, 2026, compared with $115,667 thousand at December 31, 2025. Intangible assets, net, also declined to $205,265 thousand from $244,696 thousand over the same period. The year-to-date loss before income taxes was $150,665 thousand, and the company recorded an income tax benefit of $34,755 thousand, resulting in a net loss of $115,910 thousand for the nine-month period.

The balance sheet as of September 30, 2026 showed total assets of $1,034,072 thousand, down from $1,235,864 thousand at December 31, 2025. Total stockholders' equity attributable to MGP Ingredients, Inc. was $596,974 thousand, compared with $718,436 thousand at year-end 2025. Long-term debt, less current maturities, increased to $138,414 thousand from $49,735 thousand over the same period. The contingent consideration liability, which stood at $110,800 thousand at December 31, 2025, was eliminated by the end of the third quarter of 2026.

What Was Disclosed

MGP Ingredients filed its Q3 2026 Form 10-Q disclosing a year-to-date net loss of $115,907 thousand attributable to the company, driven by a $179,526 thousand goodwill and long-lived assets impairment. Third-quarter net income was $6,888 thousand, or $0.32 per share.