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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.
Phibro
Phibro
Phibro Revenue by Segment
Revenue by Segment
Animal Health Revenue
CapyFin.comMineral Nutrition Revenue
CapyFin.comPerformance Products Revenue
CapyFin.com 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