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Jun 30, 2023
Phibro Q4 2023 Earnings Report
Phibro Animal Health Corporation reported mixed Q4 2023 results with a slight decrease in net sales but an increase in net income and EPS.
Key Takeaways
Phibro Animal Health Corporation reported Q4 2023 results with net sales of $255.0 million, a slight decrease of $0.2 million. However, net income increased by $4.0 million to $11.5 million, and diluted EPS also increased by $0.10 to $0.28. The company provided FY 2024 guidance, projecting net sales of $1.0 to $1.05 billion and adjusted EBITDA of $115 to $121 million.
Net sales decreased slightly by $0.2 million to $255.0 million.
Net income increased significantly by $4.0 million to $11.5 million.
Diluted EPS increased by $0.10 to $0.28.
The company is optimistic about opportunities related to vaccines and nutritional specialties in fiscal year 2024.
Phibro
Phibro
Phibro Revenue by Segment
Revenue by Segment
Animal Health Revenue
CapyFin.comMineral Nutrition Revenue
CapyFin.comPerformance Products Revenue
CapyFin.com Forward Guidance
Phibro Animal Health Corporation provided financial guidance for the year ending June 30, 2024, projecting net sales of $1.0 to $1.05 billion and adjusted EBITDA of $115 to $121 million.
Positive Outlook
- Net sales of $1.0 to $1.05 billion, 5% growth
- Net income of $31 to $36 million, 2% growth
- Diluted EPS of $0.76 to $0.90, 2% growth
- Adjusted EBITDA of $115 to $121 million, 5% growth
- Adjusted net income of $45 to $51 million, 2% decline
Challenges Ahead
- Adjusted diluted EPS of $1.12 to $1.27, 2% decline
- Adjusted effective tax rate of 33% to 35%
- Mineral Nutrition and Performance Products segments are projected to deliver financial performance in line with the prior fiscal year.
- Assumed projected foreign exchange rates applicable to fiscal year 2024.
- Planned year-over-year increase of $3 million, or 9%, in strategic investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income