Quarterly report [Sections 13 or 15(d)]

Segments (Tables)

v3.26.3
Segments (Tables)
 9 Months Ended
Sep. 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
September 30,		     Nine Months Ended
September 30,		  
    2026     2025     2026     2025  
Net Sales                        
Pekin Campus production:                        
Alcohol sales   $ 114,482     $ 109,276     $ 336,802     $ 310,666  
Essential ingredient sales     49,750       45,307       138,814       129,490  
Intersegment sales     275       283       767       764  
Total Pekin Campus sales     164,507       154,866       476,383       440,920  
                                 
Marketing and distribution:                                
Alcohol sales   $ 62,048     $ 58,669     $ 164,046     $ 165,910  
Intersegment sales     2,619       2,497       7,581       7,338  
Total marketing and distribution sales     64,667       61,166       171,627       173,248  
                                 
Western production:                                
Alcohol sales   $ 20,759     $ 17,419     $ 58,238     $ 50,218  
Essential ingredient sales     9,056       8,017       25,179       24,076  
Intersegment sales     494       513       1,341       1,281  
Total Western production sales     30,309       25,949       84,758       75,575  
                                 
Corporate and other     1,790       2,298       5,184       5,602  
Intersegment eliminations     (3,388 )     (3,293 )     (9,689 )     (9,383 )
Net sales as reported   $ 257,885     $ 240,986     $ 728,263     $ 685,962  
                                 
Cost of goods sold:                                
Pekin Campus production   $ 154,978     $ 135,942     $ 447,898     $ 431,669  
Marketing and distribution     60,718       56,738       160,159       160,904  
Western production     27,696       24,447       80,402       72,719  
Corporate and other     1,404       2,063       3,450       5,449  
Intersegment eliminations     (1,712 )     (1,698 )     (4,302 )     (4,529 )
Cost of goods sold as reported   $ 243,084     $ 217,492     $ 687,607     $ 666,212  
                                 
Gross profit:                                
Pekin Campus production   $ 9,529     $ 18,924     $ 28,485     $ 9,251  
Marketing and distribution     3,949       4,428       11,468       12,344  
Western production     2,613       1,502       4,356       2,856  
Corporate and other     386       235       1,734       153  
Intersegment eliminations     (1,676 )     (1,595 )     (5,387 )     (4,854 )
Gross profit as reported   $ 14,801     $ 23,494     $ 40,656     $ 19,750  
                                 
Income (loss) before provision for income taxes:                                
Pekin Campus production   $ 8,318     $ 14,694     $ 23,593     $ (3,349 )
Marketing and distribution     1,523       2,105       4,230       5,468  
Western production     5,162       (1,151 )     6,263       (5,754 )
Corporate and other     (1,981 )     (1,440 )     (5,092 )     (4,833 )
    $ 13,022     $ 14,208     $ 28,994     $ (8,468 )
Depreciation and amortization expense:                                
Pekin Campus production   $ 5,601     $ 5,348     $ 16,693     $ 16,153  
Marketing and distribution     —       —       —       —  
Western production     737       738       2,209       2,221  
Corporate and other     350       171       605       514  
    $ 6,688     $ 6,257     $ 19,507     $ 18,888  
Interest expense, net of capitalized interest:                                
Pekin Campus production   $ 198     $ 623     $ 1,478     $ 1,849  
Marketing and distribution     81       86       243       249  
Western production     407       1,399       1,635       4,188  
Corporate and other     834       692       2,322       2,054  
    $ 1,520     $ 2,800     $ 5,678     $ 8,340  
Schedule of Total Assets by Operating Segment

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

 

    September 30,
2026		     December 31,
2025		  
Total assets:                
Pekin Campus production   $ 217,397     $ 208,947  
Marketing and distribution     106,176       103,911  
Western production     50,853       43,131  
Corporate and other     28,024       32,797  
    $ 402,450     $ 388,786