Phibro Animal Health (PAHC) Tops Q3 EPS by 4c

Phibro Animal Health (NASDAQ: PAHC) reported Q3 EPS of $0.38, $0.04 better than the analyst estimate of $0.34. Revenue for the quarter came in at $210.7 million versus the consensus estimate of $208.27 million.

Withdrawal of guidance for our fiscal year 2020

Due to the COVID-19 pandemic, the animal production industry is facing unprecedented demand disruption and production impacts, including its ability to process animals. Animal producers are rapidly adjusting the amount of animals and milk being produced. Significant price declines at the producer level for all proteins also contribute to reduced production levels.

We anticipate a decline in demand for our products during our quarter ending June 30, 2020. Due to the uncertainties of the COVID-19 pandemic, we are unable to estimate the overall effects on our operations and financial results in the near-term. As a result, we are withdrawing all previously issued financial guidance for our fiscal year ending June 30, 2020.

We believe the current difficult situation will begin to normalize in the second half of calendar 2020 and the industry gradually will return to typical operating levels. We believe we have the financial resources to weather a down-turn in our business. We are actively monitoring the changing environment and stand ready to take additional operational actions as necessary to protect our financial position.

For earnings history and earnings-related data on Phibro Animal Health (PAHC) click here.

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