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Sep 30, 2023
Phibro Q1 2024 Earnings Report
Phibro reported a net loss and a decrease in net sales for the first quarter of fiscal year 2024.
Key Takeaways
Phibro Animal Health Corporation reported a decrease in net sales by 1% to $231.3 million and a net loss of $8.0 million for the first quarter ended September 30, 2023. The company's Animal Health segment saw a 4% increase in net sales, while Mineral Nutrition and Performance Products experienced declines. Updated financial guidance for fiscal year 2024 includes net sales of $980 million to $1.02 billion and adjusted EBITDA of $106 million to $112 million.
Net sales decreased by 1% to $231.3 million.
Net loss was $8.0 million, a decrease of $11.9 million.
Animal Health net sales increased by 4%, driven by growth in vaccines and nutritional specialty products.
Updated FY24 guidance includes net sales of $980 million to $1.02 billion and adjusted EBITDA of $106 million to $112 million.
Revenue by Segment
Forward Guidance
The updated guidance reflects reduced expectations for the fiscal year, compared with our previous guidance, reflecting difficult fundamentals in certain parts of our business, including international beef feedlots, the U.S. and China dairy sectors and the pace of recovery in the Mineral Nutrition and Performance Products segments and the costs of manufacturing disruptions and inefficiencies due to the current conflict in Israel.
Challenges Ahead
- Difficult fundamentals in international beef feedlots.
- Challenges in the U.S. and China dairy sectors.
- Slower pace of recovery in Mineral Nutrition.
- Slower pace of recovery Performance Products segments.
- Costs of manufacturing disruptions and inefficiencies due to the current conflict in Israel.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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