MGP第二季度威士忌销量暴跌59% 烈酒供应业务持续承压

The Distilling Solutions arm of MGP Ingredients plummeted by 42% in the 2026 second quarter (Q2) as whiskey suffered a 59% drop.

The US-based company supplies bulk spirits, custom mash bills, and barrel-ageing services through its Distilling Solutions arm. The division's Q2 decline followed a similar performance in the first three months of 2026, when MGP's Distilling Solutions subsidiary slumped by 40%. MGP's total sales dropped by 15% to US$124.4 million in Q2, which it attributed to 'expected declines in brown goods sales' within Distilling Solutions. The company's 2025 full-year sales fell by 24%. Distilling Solutions revenue decreased to US$29.2m for Q2, with brown goods sales down by 59% due to 'lower demand for aged and new distillate whiskey'. MGP paused operations at Kentucky whiskey distilleries Limestone Branch and Lux Row Distillers in May due to a drop in demand. The bulk spirits supplier is working to 'rebuild' its aged whiskey pipeline, expand further into premium white goods, and grow its private-label programmes. The company's Branded Spirits arm – which includes brands like Ezra Brooks whiskey and Dos Primos Tequila – experienced a 1% drop to US$59.6m. Excluding the 'other products' segment, which includes sales of private-label bottled spirits, the division's sales were up by 3%. Premium-plus focus Within Branded Spirits, premium-plus sales grew by 5% to US$32.6m as some brands improved their performance. Premium-plus brand Penelope Bourbon (which it acquired in 2023) rose by 13% in Q2, while Yellowstone whiskey also saw 'significant growth', driven by limited edition products. Combined sales of the value and mid-priced portfolio were stagnant at US$24.5m, but the mid-priced tier was up by 5%. MGP plans to focus on the premium-plus part of the portfolio, particularly on its 'best-performing brands' like Penelope. Julie Francis, MGP CEO and president, said: "These results reflect continued momentum in our premium-plus portfolio, led by Penelope Bourbon and Yellowstone, and an improvement in select mid- and value-priced brands." Unrelated to spirits, Ingredient Solutions was the only division of the three in growth, up by 2% to US$33.5m. MGP's total operating income decreased to US$17.7m, due to 'expected reductions' for its Distilling Solutions and Ingredient Solutions arms, and an 'increase in provision for credit loss related to a customer bankruptcy'. During Q2, MGP said it had 'continued to strengthen and revamp its sales, marketing and supply-chain functions, while adding specific capabilities to address new and existing growth opportunities'. The company also focused on 'efficiencies and maximising effectiveness through the implementation of its ownership cost management initiative'. Francis continued: "Our second-quarter results are a reflection of our efforts to drive long-term growth across all three of our businesses and to deliver value creation, even as we continue to navigate a challenging industry backdrop. "As we move through the second half of 2026, we will maintain our strategic roadmap and drive our key growth initiatives, while prioritising our best opportunities for growth, taking decisive actions and executing with discipline." MGP also reaffirmed its fiscal 2026 guidance from February, with full-year sales expected to be in the range of US$480m-US$500m. Earlier this week, MGP expanded its team with four new hires, including former Pernod Ricard executive Tom Neiheisel as vice-president of Distilling Solutions sales.