11:09 AM EDT, 08/01/2024 (MT Newswires) -- MGP Ingredients ( MGPI ) shares were up 0.4% in recent Thursday trading after the company reported better-than-expected Q2 results.

MGP reported Q2 adjusted earnings of $1.71 per diluted share, up from $1.49 a year earlier. Analysts polled by Capital IQ expected $1.54.

Sales for the quarter that ended June 30 were $190.8 million, down from $209 million a year earlier. Analysts surveyed by Capital IQ expected $189.1 million.

The company reiterated its 2024 guidance with adjusted basic EPS in the range of $6.12 to $6.23 on sales of $742 million to $756 million. Analysts polled by Capital IQ expect $6.17 and $755.9 million.

MGP Ingredients ( MGPI ) declared a quarterly dividend of $0.12 per share, payable on Aug. 30 to shareholders of record on Aug. 16.

Price: 81.84, Change: +0.28, Percent Change: +0.35