Phibro Animal Health (NASDAQ: PAHC) reported Q2 EPS of $0.44, $0.06 better than the analyst estimate of $0.38. Revenue for the quarter came in at $206 million versus the consensus estimate of $194.89 million.

• Net sales of $206 million, an increase of $14 million, or 7%
• Net income of $7 million, a decrease of $6 million, or 48%
• Diluted EPS of $0.17, a decrease of $0.17, or 50%
• Adjusted EBITDA of $33 million, an increase of $1 million, or 4%
• Adjusted diluted EPS of $0.44, an increase of $0.05, or 13%

FINANCIAL GUIDANCE

We have updated our financial guidance for the fiscal year 2018. The guidance is shown in detail on the schedule included with this press release.

Compared to our initial guidance, we have increased expected fiscal year sales by $20 million and $35 million for the Animal Health segment and the consolidated total, respectively. We have increased expected fiscal year Adjusted EBITDA by $4 million.

Our expectations for adjusted diluted earnings per share have increased by $0.10 to $0.11 per share, compared with our initial guidance. The increase primarily is due to the change in Adjusted EBITDA; the benefit of the Tax Act also contributes to improved expectations.

We estimate approximately a 26.5% - 27.5% adjusted annual effective income tax rate for the year ending June 30, 2019. Our estimate is based on a 21% federal statutory income tax rate for the year ending June 30, 2019.

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