Stock Story -
Food and beverage supplier MGP Ingredients (NASDAQ:MGPI) (NASDAQGS:MGPI) will be reporting results tomorrow before market hours. Here's what to look for.
Last quarter MGP Ingredients reported revenues of $211.6 million, up 5.2% year on year, beating analyst revenue expectations by 1.2%. It was a mixed quarter for the company, with strong earnings guidance for the full year but a miss of analysts' EPS estimates.
Is MGP Ingredients buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting MGP Ingredients's revenue to grow 7.5% year on year to $205.4 million, slowing down from the 14.5% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.35 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 6.2%.
Looking at MGP Ingredients's peers in the consumer staples segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Molson Coors (NYSE:TAP) delivered top-line growth of 6.1% year on year, beating analyst estimates by 0.4% and Coca-Cola (NYSE:KO) reported revenues up 7.4% year on year, exceeding estimates by 2.8%. Both stocks (Molson Coors and Coca-Cola) traded flat on the results.
Read the full analysis of Molson Coors's and Coca-Cola's results on StockStory.
Investors in the consumer staples segment have had steady hands going into the earnings, with the stocks flat over the last month. MGP Ingredients is up 6.6% during the same time, and is heading into the earnings with analyst price target of $130.6, compared to share price of $93.8.