Stock Story reported on Thursday that heavy-hitting whiskey powerhouse MGP reported a 23.7% drop in profits for 2025. The outlet shared that MGP expects its revenue to be $530 million by the year’s end. In a news release issued on Thursday, MGP’s CFO Brandon Gail said that the results were “largely as expected.”
“Our decisive actions to help improve visibility with our customers are working as second quarter brown goods volume and price declines were in line with our expectations,” said Gail in a statement. “Our teams remain tightly focused on key initiatives and continue to execute on our strategic priorities, which I expect will position us well for the second half and give us the confidence to reaffirm our 2025 outlook.”
The brand additionally shared that it was bringing a new CEO on board, Julie Francis. Gail expressed that Francis brings “a strong strategic lens, deep commercial expertise, and a proven ability to lead teams.”
“I am excited to take on the CEO role and look forward to building on the progress made by Brandon and the MGP team,” said Francis in a statement. “Our goal continues to be delivering sustainable growth and unlocking meaningful, long-term value for all stakeholders. We will work together with clarity, integrity, and agility to strengthen our customer-centric, brand-led approach and execute with excellence across our platforms.”
MGP is based in Indiana, and the brand is behind some of the most popular names in whiskey. Brands like Lux Row, Blood Oath, Yellowstone, Ross & Squib, Penelope Bourbon and more are a part of MGP’s portfolio.
MGP isn’t the only whiskey brand experiencing a sales slump in 2025. On Monday, William Grant & Sons reported that it saw a drop of 30% in revenue. William Gran & Sons is behind brands like Glenfiddich and Tullamore.
Other names in scotch whisky are seeing a similar pattern, like Macallan. The brand’s parent company, Edrington, reported in mid-July that it saw a drop of 26% in profits, and it cited the “global economic downturn” as a major reason.
As the spirits industry continues to face headwinds, like shifting consumer preferences amongst Gen Z consumers for zero proof beverages, the threat of a global trade war, and the rising cost of living, large companies have to focus on long-term strategy in order to move forward.
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