Quarterly report [Sections 13 or 15(d)]

Segments (Tables)

v3.26.1
Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segments [Abstract]  
Schedule of Set Forth Certain Financial Data for the Company’s Operating Segments

The following tables set forth certain financial data for the Company’s operating segments (in thousands):

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2026     2025     2026     2025  
Net Sales                        
Pekin Campus production:                        
Alcohol sales   $ 114,370     $ 94,155     $ 222,321     $ 201,390  
Essential ingredient sales     45,071       39,565       89,064       84,183  
Intersegment sales     229       183       492       481  
Total Pekin Campus sales     159,670       133,903       311,877       286,054  
Marketing and distribution:                                
Alcohol sales, gross   $ 54,612     $ 58,106     $ 101,889     $ 107,101  
Alcohol sales, net     60       80       109       142  
Intersegment sales     2,512       2,334       4,962       4,840  
Total marketing and distribution sales     57,184       60,520       106,960       112,083  
                                 
Western production:                                
Alcohol sales   $ 20,798     $ 16,604     $ 37,479     $ 32,798  
Essential ingredient sales     8,843       8,250       16,123       16,058  
Intersegment sales     449       505       848       769  
Total Western production sales     30,090       25,359       54,450       49,625  
                                 
Corporate and other     1,944       1,676       3,393       3,304  
Intersegment eliminations     (3,190 )     (3,022 )     (6,302 )     (6,090 )
Net sales as reported   $ 245,698     $ 218,436     $ 470,378     $ 444,976  
Cost of goods sold:                                
Pekin Campus production   $ 148,148     $ 139,748     $ 292,918     $ 294,974  
Marketing and distribution     53,404       56,518       99,442       104,167  
Western production     27,955       23,501       52,707       49,024  
Corporate and other     1,010       1,705       2,046       3,386  
Intersegment eliminations     (1,455 )     (1,099 )     (2,590 )     (2,831 )
Cost of goods sold as reported   $ 229,062     $ 220,373     $ 444,523     $ 448,720  
Gross profit (loss):                                
Pekin Campus production   $ 11,522     $ (5,845 )   $ 18,959     $ (8,920 )
Marketing and distribution     3,780       4,002       7,518       7,916  
Western production     2,135       1,858       1,743       601  
Corporate and other     934       (29 )     1,347       (82 )
Intersegment eliminations     (1,735 )     (1,923 )     (3,712 )     (3,259 )
Gross profit (loss) as reported   $ 16,636     $ (1,937 )   $ 25,855     $ (3,744 )
Income (loss) before provision for income taxes:                                
Pekin Campus production   $ 9,667     $ (9,923 )   $ 15,276     $ (17,291 )
Marketing and distribution     1,282       1,795       2,707       3,359  
Western production     2,106       (1,453 )     1,100       (5,356 )
Corporate and other     (1,354 )     (1,416 )     (3,111 )     (3,388 )
    $ 11,701     $ (10,997 )   $ 15,972     $ (22,676 )
Depreciation and amortization expense:                                
Pekin Campus production   $ 5,589     $ 5,348     $ 11,091     $ 10,804  
Western production     735       845       1,472       1,483  
Corporate and other     128       172       256       344  
    $ 6,452     $ 6,365     $ 12,819     $ 12,631  
Interest expense, net of capitalized interest:                                
Pekin Campus production   $ 642     $ 615     $ 1,280     $ 1,226  
Marketing and distribution     76       81       162       163  
Western production     478       1,430       1,228       2,789  
Corporate and other     764       685       1,488       1,362  
    $ 1,960     $ 2,811     $ 4,158     $ 5,540  
Schedule of Total Assets by Operating Segment

The following table sets forth the Company’s total assets by operating segment (in thousands): 

 

    June 30,
2026		     December 31,
2025		  
Total assets:            
Pekin Campus production   $ 215,965     $ 208,947  
Marketing and distribution     109,125       103,911  
Western production     45,593       43,131  
Corporate and other     26,387       32,797  
    $ 397,070     $ 388,786