Phibro Animal Health (PAHC) Misses Q4 EPS by 5c, Revenues Miss; Offers 1Q EPS Guidance Below Consensus, Provides 1Q Revenue Outlook
Phibro Animal Health (NASDAQ: PAHC) reported Q4 EPS of $0.17, $0.05 worse than the analyst estimate of $0.22. Revenue for the quarter came in at $186.9 million versus the consensus estimate of $188.9 million.
Highlights for the June 2020 quarter (compared to the June 2019 quarter)
- Net sales of $186 million, a decrease of $18 million, or 9%
- Net income of $6 million, a decrease of $3 million, or 36%
- Diluted EPS of $0.14, a decrease of $0.08, or 36%
- Adjusted EBITDA of $24 million, a decrease of $3 million, or 9%
- Adjusted diluted EPS of $0.17, a decrease of $0.16, or 48%
COMMENTARY
“As expected, our fourth quarter was a challenging one due to Covid-19,” said Jack Bendheim, Phibro’s Chairman, President and Chief Executive Officer. “The industries we serve - especially our swine and cattle customers - faced a host of unprecedented issues, ranging from lack of processing availability, to wild commodity price swings to sudden drops in demand. Despite these extraordinary times, our strategy of enhancing our Nutritional Specialties and Vaccines offerings continues to bear fruit, as we were able to grow those segments even in the face of the pandemic. We believe the worst is over, and as we move into our new financial year, we expect our markets to progressively improve over the course of the year.”
GUIDANCE:
Phibro Animal Health sees Q1 2021 EPS of $0.18-$0.20, versus the consensus of $0.26. Phibro Animal Health sees Q1 2021 revenue of $190 million, versus the consensus of $189.49 million.
Guidance for the first quarter ending September 2020 (compared to the September 2019 quarter)
- Net sales of approximately $190 million, approximately equal to the prior period
- Net income of $5 - $6 million, an increase of $2.5 - $3.5 million
- Diluted EPS of $0.13 - $0.15, an increase of $0.07 - $0.09
- Adjusted EBITDA of approximately $20 million, approximately equal to the prior period
- Adjusted diluted EPS of $0.18 - $0.20, a change of $(0.01) - $0.01
For earnings history and earnings-related data on Phibro Animal Health (PAHC) click here.