Loading...
•
Dec 31, 2022
Phibro Q2 2023 Earnings Report
Phibro reported a net sales increase of 5% and a net income decrease of 59% compared to the same quarter last year.
Key Takeaways
Phibro Animal Health Corporation reported a 5% increase in net sales, reaching $244.6 million, but a 59% decrease in net income, which fell to $7.2 million. The company saw growth in its Animal Health and Performance Products segments, while Mineral Nutrition experienced a decline. Increased SG&A expenses, including environmental remediation costs, impacted profitability.
Net sales increased by 5% to $244.6 million.
Net income decreased by 59% to $7.2 million.
Animal Health segment net sales increased by 9%.
Performance Products segment net sales increased by 27%.
Revenue by Segment
Forward Guidance
The Company updated guidance for GAAP Net Income and Diluted EPS primarily to reflect the unfavorable impact of non-operational environmental remediation costs recorded in the quarter ended December 31, 2022, but reiterated guidance for other financial metrics.
Positive Outlook
- Net sales of $960 million - $1 billion (unchanged)
- Adjusted EBITDA of $113 - $118 million (unchanged)
- Adjusted net income of $49 - $53 million (unchanged)
- Adjusted diluted EPS of $1.21 - $1.31 (unchanged)
- Adjusted effective tax rate of 33% (unchanged)
Challenges Ahead
- Net income of $34 - $38 million, from $39 - $43 million
- Diluted EPS of $0.84 - $0.94, from $0.96 - $1.06
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...