Phibro(PAHC)

Search documents
Phibro(PAHC) - 2023 Q3 - Earnings Call Presentation
2023-05-12 18:10
Financial Performance & Guidance - The company's FY2023 financial guidance projects net sales between $960 million and $1 billion, representing a 2-6% year-over-year growth[98] - Adjusted EBITDA for FY2023 is guided between $113 million and $118 million, also reflecting a 2-6% year-over-year increase[98] - Before strategic investments, adjusted EBITDA guidance is $150-155 million, representing a 7-11% year-on-year growth[112] Business Segment Performance - In fiscal year 2022, Animal Health segment sales were $607 million and adjusted EBITDA was $124 million[63] - Mineral Nutrition segment sales reached $221 million in 2021[94] - Performance Products segment sales were $76 million with an adjusted EBITDA of $9 million in 2022[89] Growth Strategies & Investments - Nutritional specialties net sales increased from $52 million to $157 million since the IPO[51] - Vaccine net sales increased from $29 million to $88 million[119] - The company plans to invest $37 million in R&D and other projects, including companion animal, nutritional specialty, and vaccine development[111] Companion Animal Focus - The company estimates the addressable market for atopic dermatitis in dogs worldwide at $1 billion[72] - The estimated addressable market for oral care in cats and dogs worldwide is $2 billion[72] - The estimated addressable market for pain management in dogs worldwide is over $1 billion[79]
Phibro(PAHC) - 2023 Q3 - Earnings Call Transcript
2023-05-06 21:28
Financial Data and Key Metrics Changes - Consolidated net sales for Q3 2023 were $246 million, reflecting a 3% increase compared to the same quarter last year [55] - Adjusted net income and adjusted diluted earnings per share decreased by 13%, driven by higher SG&A expenses and taxes, offset by higher gross profit [28] - Consolidated adjusted EBITDA decreased by $0.6 million or 2% compared to the prior year's quarter, influenced by lower adjusted EBITDA in the Mineral Nutrition and Performance Products segments [7] Business Line Data and Key Metrics Changes - The Animal Health segment achieved a 10% year-to-date increase in net sales compared to the same period last year, with Q3 net sales of $164.4 million, an 11% increase year-over-year [4][8] - Within the Animal Health segment, MFAs and other products increased by $8.9 million or 11%, nutritional specialties grew by 9%, and vaccines saw a $3.3 million or 15% increase [5][29] - The Mineral Nutrition segment reported net sales of $62.9 million, a decline of 9% year-over-year, driven by decreased demand for trace minerals [9] - Performance Products segment net sales were $18.3 million, reflecting a $3.7 million decline primarily due to decreased demand for copper-based products [30] Market Data and Key Metrics Changes - The company is experiencing recessionary pressures in the Mineral Nutrition segment as customers reduce purchases and lower inventory [4] - The company noted strong demand for its products in Latin America, particularly in the vaccine category, following the opening of a new facility in Brazil [5] Company Strategy and Development Direction - The company continues to focus on raising prices when market conditions allow and remains optimistic about growth opportunities in the Animal Health segment [6] - The Companion Animal segment is viewed as a medium-term growth driver, with ongoing development in the pipeline [26] - The company is taking steps to better balance inventory to meet customer needs, particularly in the Mineral Nutrition segment [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the full-year guidance despite challenging market conditions, projecting net sales of $960 million to $1 billion for the fiscal year [34] - The company anticipates improvements in free cash flow as it focuses on cost control and managing working capital [11] - Management views the business as recession-resistant, noting that demand for protein remains stable even during economic downturns [46] Other Important Information - The company had $192 million of liquidity available at the quarter end, including cash and short-term investments of $77 million [12] - The gross leverage ratio at quarter end was 4.3x, calculated by dividing total debt of $482 million by trailing 12-month adjusted EBITDA of $112 million [33] - The company plans to publish its second ESG report, reflecting progress made in 2022 [35] Q&A Session Summary Question: Update on feedlot dynamics in Mineral Nutrition - Management noted that demand is influenced by inventory adjustments following previous supply chain concerns, with a focus on managing working capital [36][37] Question: Impact of China's lifting of the embargo on Brazilian beef imports - Management acknowledged this change as a potential tailwind for the Latin America Animal Health business, which has been performing well [38] Question: Capacity of the Brazilian vaccine facility - The facility is involved in custom vaccine production, which is a farm-by-farm business, and recent approvals for poultry vaccines are expected to enhance growth [39] Question: U.S. broiler volumes and Brazilian cattle dynamics - U.S. broiler volumes are reported to be flat and holding steady, while Brazilian cattle business remains flat to slightly up [40][42]
Phibro(PAHC) - 2023 Q3 - Quarterly Report
2023-05-03 20:08
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36410 Phibro Animal Health Corporation (Exact name of registrant as specified in its charter) Delaware 13-184 ...
Phibro(PAHC) - 2023 Q2 - Earnings Call Transcript
2023-02-09 19:12
Phibro Animal Health Corporation (NASDAQ:PAHC) Q2 2023 Earnings Conference Call February 9, 2023 9:00 AM ET Company Participants Damian Finio - Chief Financial Officer Jack Bendheim - Chairman, President and CEO Daniel Bendheim - Director and Executive Vice President, Corporate Strategy Conference Call Participants Brian Wright - ROTH MKM Operator Good morning. My name is Jeannie, and I will be your conference operator today. At this time, I would like to welcome everyone to the Phibro Animal Health Corpora ...
Phibro(PAHC) - 2023 Q2 - Quarterly Report
2023-02-08 21:26
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36410 Phibro Animal Health Corporation (Exact name of registrant as specified in its charter) Delaware 13- ...
Phibro(PAHC) - 2023 Q1 - Earnings Call Transcript
2022-11-13 17:42
Phibro Animal Health Corporation (NASDAQ:PAHC) Q1 2023 Earnings Conference Call November 10, 2022 9:00 AM ET Company Participants Damian Finio - Chief Financial Officer Jack Bendheim - Chairman, President and CEO Daniel Bendheim - Director and Executive Vice President, Corporate Strategy Conference Call Participants Erin Wright - Morgan Stanley Wolf Chanoff - Bank of America Operator Hello and thank you for standing by. My name is Regina, and I will be your conference operator today. At this time, I would l ...
Phibro(PAHC) - 2023 Q1 - Earnings Call Presentation
2022-11-13 17:40
Phibro Animal Health Corporation Financial Results Fiscal Year 2023 First Quarter Ended September 30, 2022 Webcast and Conference Call November 10, 2022 U.S. toll-free +1.888.330.2022 International toll +1.365.977.0051 Conference ID: [3927884] 1 November 10, 2022 Webcast & Conference Call Important Information Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties, including with respect to future debt and ...
Phibro(PAHC) - 2022 Q4 - Earnings Call Transcript
2022-08-25 14:51
Phibro Animal Health Corporation (NASDAQ:PAHC) Q4 2022 Earnings Conference Call August 25, 2022 9:00 AM ET Company Participants Damian Finio - CFO Jack C. Bendheim - Chairman, President, and CEO Daniel M. Bendheim - Director and EVP, Corporate Strategy Conference Call Participants John Kim - Bank of America Justin Wang - Morgan Stanley Operator Good morning. My name is Chris and I'll be your conference operator today. At this time, I would like to welcome everyone to the Phibro Animal Health Corporation Q4 ...
Phibro(PAHC) - 2022 Q4 - Annual Report
2022-08-24 20:49
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36410 Phibro Animal Health Corporation (Exact name of registrant as specified in its charter) Delaware 13-1840497 (Sta ...
Phibro(PAHC) - 2022 Q1 - Earnings Call Presentation
2022-05-16 02:14
Financial Performance - Q3 2022 - Net sales increased by $27.9 million, a 13% increase year-over-year, driven by improvements across all business segments and regions[11] - Net income increased by $5.5 million, a 45% increase year-over-year, driven by stronger volumes and selling prices[11] - Adjusted EBITDA remained comparable to the prior year's quarter at $28.0 million[11] - Adjusted net income decreased by 4% year-over-year to $13.4 million, and adjusted diluted EPS decreased by 3% year-over-year to $0.33[11] Segment Performance - Q3 2022 - Animal Health net sales increased by $14.2 million, or 11% year-over-year, to $148.6 million[15] - Mineral Nutrition net sales increased by $10.9 million, or 19% year-over-year, to $69.0 million[18] - Performance Products net sales increased by $2.8 million, or 15% year-over-year, to $22.0 million[18] Fiscal Year 2022 Guidance - The company raised full-year net sales guidance to $930-$950 million, projecting a 12-14% increase over the prior full year[9] - Adjusted EBITDA guidance was maintained at $110-$114 million[9]