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Mar 31, 2023
Phibro Q3 2023 Earnings Report
Phibro's financial results for the third quarter of 2023 were announced, showing a slight increase in net sales but a decrease in net income and EPS.
Key Takeaways
Phibro Animal Health Corporation reported a 3% increase in net sales, reaching $245.7 million, but experienced a 43% decrease in net income, which fell to $10.0 million. Diluted EPS also decreased by 43% to $0.25.
Net sales increased by 3% to $245.7 million.
Net income decreased by 43% to $10.0 million.
Animal Health segment achieved a 10% increase in net sales.
Recessionary pressure impacted the Mineral Nutrition segment.
Revenue by Segment
Forward Guidance
The Company reiterated guidance for the year ending June 30, 2023, as follows:
Positive Outlook
- Net sales of $960 million - $1 billion
- Net income of $34 - $38 million
- Diluted EPS of $0.84 - $0.94
- Adjusted EBITDA of $113 - $118 million
- Adjusted net income of $49 - $53 million
Challenges Ahead
- Adjusted diluted EPS of $1.21 - $1.31
- Adjusted effective tax rate of 33%
- Guidance for GAAP measures assumes actual foreign exchange losses for the nine months ended March 31, 2023
- Guidance for GAAP measures assumes the Company’s projected foreign exchanges rates for the three months ending June 30, 2023.
- Uncertainty regarding certain items required for a reconciliation
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
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