everyone for to the And today. Mike. call you, thanks Thank joining
strategy. full updates ended for line the an the end the the financial with metrics; on we December we and against the begin call, of XX, will quarter of overview we our open provide made call, our have Q&A. this progress will performance for At discuss key XXXX; performance year and On
Strong during execution underpinned year deliver of MGP enabled another from growth demand our to model of The and customer the meet and XXXX. each of performance results strength and products our long-term increased team record strategy business value our for segments. our across
demand also support we During whiskey while American invest to the new in continuing segment, in experience brands. distillate innovation aged to Distilling Whiskey our for to grow Solutions marketing year, and tequila and and our continued healthy
Additionally, our Ingredient This recorded perspective. year plant-based, and consumer high profit record Solutions protein demand for segment net lower a from another and foods gross continued. carbohydrate sales
increased the million, to for Consolidated year gross profit of $XXX.X sales. $XXX.X while sales to increased XX% representing XX.X% XX% million,
and million. XX% operating respectively XX% income $XXX income and adjusted Operating to increased
million. resulted growth Adjusted XX% American brown respectively. EBITDA on $XXX.X Solutions a increased to Whiskey continues in The segment Distilling our annual increasing XX% and and drive XX% sales demand quarterly and goods for basis in to
driving Branded the XX% margin our in segment. Our quarter, further expansion brands in premium Spirits spirits grew plus gross
Our XX% fourth XX% year and Solutions year. basis, results delivered of the with of for growth full Ingredient segment quarter growth gross profit record both and on sales a
sales each segment for year million. our the $XXX.X Solutions at greater XX% increased in to detail, segment Looking in Distilling
$XXX.X to segment XX.X% improved million sales. the Gross profit for year for of
Full year aged prior by XX% alcohol for premium year, demand increased the primarily and new sales strong beverage distillate whiskey both versus of driven
by to primarily continues well and been outpace term craft market customers. has longer growth multi-national sales goods trends driven as Brown as
strong have at now we demand than of majority possible customer We're capturing relationships visibility the with share stands team's expertise new without being have sales for improvement base, our market demand, we aged expertise team committed brown the sales XXXX. the results job achieved and This cultivated goods. has customer across our pleased resulted have excellent the whisky unfilled and and been that brown committed whiskey in would relationships in strength our goods more customers. in majority of of being an which and XXX done our distillate consistency a vast Our not have and diverse and
market lower year, sales goods was products The beverage white to our decrease for and your drag to margins. decline available for XX% our volumes Full impact lower also excess gas primarily natural of decreased white costs, goods, of sales premium the in to X% sales costs, alcohol increased year. due products. gross industrial prior and goods Sales volumes. the input white corn supply industrial with due primarily along versus alcohol for a the remains The
previously by and these industrial goods alcohol As discussed million dynamics for basis basis, compared gross when negative margins gross on by to prior approximately the calls, we combined and points prior have XXXX profit $XX.X reduced gross white on and year. unfavorable resulted margin in a
ahead we comparing look we gross anticipate are a and XXXX, XXXX white headwinds these million to combined to we million. XXXX, estimate decline to another industrial As profit $X $X to on basis to continue goods dollars anticipated and
taken time. have mitigate these to headwinds we said, That steps over
we have volume industrial to margins white have which retention years, customer two past shifted characteristics. the Over from better goods, better historically alcohol and
evolve lower we revenue, for which margins as lines, These will XXXX discuss call. in factored enter respective these a additional guidance volumes, industrial unfavorable and dynamics white entered year in goods goods As capacity on market, we implementing into further volumes the to products combination full in an and the continued reductions both premium business natural and alcohol in beverage industrial the has gross have to minimize have been due of result that our product higher in fiscal impact with will decrease gas to the are reductions the to impact the we year later white for costs, our market corn and XXXX.
year primarily $XXX.X X, inclusion Branded year versus acquired million. for brands the to The was year the segment Luxco of increased on Spirits, Moving full XXXX. the merger increase of prior as by to the XX% part April the sales driven
while as and value we the continue the overall the allowing in these year with total brands, For to three to prior was the our behind last mid brands year, investing quarters revenue in consistent focus line our price spirits on declines priced tiers. of premium plus perform category branded with
in in driven timeframe, plus performance. brands XX% premium our investments the same XX% For in revenue quarter, and brands’ by tequila have resulted and this American primarily Whiskey fourth increasing
For total XX% in year branded spirits brand’s premium full in from the increased to of revenue has plus XX% XXXX revenue XXXX.
Rye Our Yellowstone to El with Reserve, progress we're that team Year, continues innovate Mayor Malt, include that brands line on Remus Cristalino. Old these proud the front of extensions and and around made Gatsby we've Ezra X Single announced
the margin profile. are to Importantly, Spirits these gross respective overall products Branded brand and margin our accretive to families
segment XXX on basis point or is $XX.X in primarily a whiskey increased Gross the sales, which attributed segment gross plus profit the our this for of This to year, in percentage premium year. and to improvement versus brands. focus investing American million can margin tequila continued be increase for XX.X% prior
a while Turning higher segment XX% carbohydrates XX.X% gross proteins, $XX.X to strong net profit $XXX.X lower primarily and specialty The to as sales wheat levels Ingredient foods sales. of million, higher starches for of consumer year the and proteins increased million increase of Solutions, to plant-based record increased by specialty continues. wheat sales for or containing driven was demand
universities schedule initial begun with remains during as a line that quarter date food as Proterra extrusion facility shipments service also and expected alternative have Construction utilized colleges in the product XXXX. to meat the We we this development previously on seasoned an textured channel. the announced, of of we start crumbles pilot fourth the protein of of
We realized segment. specialty based and [indiscernible] will our sustainable believe growth wheat we the continued momentum enable the have emerging across long-term products for
results throughout to and teams innovation Our by production to R&D and as improvement collaboratively result the for achievements needs, customers’ record our effectively due these These direct continue initiative. continuous experienced record were the levels, accomplished work improvements our a year. productivity to meet sales, year of supported we
momentum turn the results over for year. thank to the alignment and we and consumer us to their deliver to want build our execution. trends, strong the meet ability offerings I for on call Before the have continued throughout generated to product continued to team Their enabled our year tremendous of I efforts Brandon, the
initial This remarks. concludes my
Brandon? key metrics Brandon and numbers. review Let me things for a Gall to now of over turn the
