Phibro Animal Health (PAHC) Misses Q2 EPS by 2c, Revenues Beat

Phibro Animal Health (NASDAQ: PAHC) reported Q2 EPS of $0.41, $0.02 worse than the analyst estimate of $0.43. Revenue for the quarter came in at $218 million versus the consensus estimate of $211.46 million.

• Net sales of $218 million, an increase of $12 million, or 6%
• Net income of $15 million, an increase of $8 million
• Diluted EPS of $0.36, an increase of $0.19
• Adjusted EBITDA of $32 million, a decline of $0.9 million, or 3%
• Adjusted diluted EPS of $0.41, a decrease of $0.03, or 7%

COMMENTARY

“We are encouraged by the continued progress of our Animal Health business in the face of numerous economic and market challenges,” said Jack Bendheim, Phibro’s Chairman, President and Chief Executive Officer. “Growth in international markets demonstrates the strength of our portfolio and has more than offset domestic sales declines from the ongoing difficult dairy sector and the loss of a vaccine distribution arrangement. Overall, international regions grew despite unfavorable currency and economic conditions in certain countries. Our Mineral Nutrition business showed encouraging progress in the quarter, even though profitability continues to be below last year.”

“We continue to invest operating expense dollars to develop future growth opportunities. At the same time, we have minimized operational spending as much as possible to protect current year profitability,” said Mr. Bendheim.

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

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