MGP Ingredients, Inc. (NASDAQ:MGPI) Q1 2023 Earnings Conference Call May 4, 2023 10:00 AM ET

Company Participants

Mike Houston - Investor Relations

Dave Colo - President & Chief Executive Officer

Brandon Gall - Vice President-Finance & Chief Financial Officer

Conference Call Participants

Bill Chappell - Truist Securities

Vivien Azer - TD Cowen

Marc Torrente - Wells Fargo

Sean McGowan - Roth MKM Partners

Gerald Pascarelli - Wedbush Securities

Ben Klieve - Lake Street

Mitch Pinheiro - Sturdivant & Company

Operator

Good morning, and welcome to the MGP Ingredients First Quarter 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Mike Houston, Investor Relations at Lambert. Please go ahead.

Mike Houston

Thank you. I'm Mike Houston with Lambert, MGP's Investor Relations firm. And joining me today are members of their management team, including Dave Colo, President and Chief Executive Officer; and Brandon Gall, Vice President of Finance and Chief Financial Officer. We will begin the call with management's prepared remarks and then open the call up to questions.

However, before we begin today's call, it is my responsibility to inform you that this call may involve certain forward-looking statements, such as projections of sales, operating income, gross margin and effective tax rate, as well as statements on the plans and objectives of the company's business and overall consumer and industry trends. The company's actual results could differ materially from any forward-looking statements made today due to a number of factors, including the risk factors described in the company's most recent annual report filed with the Securities and Exchange Commission. The company assumes no obligation to update any forward-looking statements made during the call.

Additionally, this call will contain references to certain non-GAAP measures, which we believe are useful in evaluating the company's performance. Reconciliations of these measures to most directly comparable GAAP measures are included in today's earnings release. If anyone does not already have a copy of the earnings release issued by MGP today, you can access it at the company's website www.mgpingredients.com.

At this time I would like to turn the call over to MGP's President and Chief Executive Officer Dave Colo. Dave?

Dave Colo

Thank you, Mike, and thanks everyone for joining the call today. On this call we will begin with an overview of our performance for the quarter ended March 31, 2023, provide updates on key financial performance metrics and discuss the progress we have made against our strategy. At the end of the call, we will open the line for Q&A.