MGP: Q1 Earnings Snapshot

ATCHISON, Kan. (AP) — ATCHISON, Kan. (AP) — MGP Ingredients Inc. (MGPI) on Thursday reported a loss of $3 million in its first quarter.

The Atchison, Kansas-based company said it had a loss of 14 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 36 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The producer of distillery and ingredients products used by the packaged goods industry posted revenue of $121.7 million in the period.

MGP expects full-year earnings in the range of $2.45 to $2.75 per share, with revenue in the range of $520 million to $540 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