MGP Ingredients, Inc. (NASDAQ:MGPI) Q1 2022 Results Earnings Conference Call May 5, 2022 10:00 AM ET

Company Participants

Mike Houston - Investor Relations

David Colo - President and Chief Executive Officer

Brandon Gall - Vice President, Finance and Chief Financial Officer

Conference Call Participants

Mitchell Pinheiro - Sturdivant & Co.

William Chappell - Truist Securities

Benjamin Klieve - Lake Street Capital Markets

Operator

Good day, and welcome to the MGP Ingredients First Quarter 2022 Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded.

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

Mike Houston

Thank you. I'm Mike Houston with Lambert & Company, 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. 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 and quarterly reports filed with the Securities and Exchange Commission.

The company assumes no obligation to update any forward-looking statements made during the call. If anyone does not already have a copy of the press 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?

David 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, 2022, 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.

We are off to another strong start to the year with record results for each of our 3 business segments. We are very pleased with our continued momentum this quarter and believe the underlying macro consumer trends that are supporting each of our business segments remain strong.