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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Phibro Animal Health Reports on Q2 of FY 2019

02/07/2019

In a press release dated February 6th 2019, Phibro Animal Health Corporation (PAHC) announced results for the 2nd Quarter of Fiscal 2019 ending December 31st 2019.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

2nd Quarter Ending December 31st.

2018

2017

Difference (%)

Sales:

$218,200

$205,900

+6.0

Gross profit:

$68,600

$66,900

+2.5

Operating income:

$25,700

$23,900

+7.5

Pre-tax Income

Net Income

$20,100

$14,700

$21,200

$7,000

-5.2

+110.0

Diluted earnings per share:

$0.36

$0.17

+111.8

Gross Margin (%)

31.4

32.5

-3.4

Operating Margin (%)

11.8

11.7

+0.9

Profit Margin (%)

6.7

3.4

+97.1

Long-term Debt:

$229,802

$241,891

-5.0

12 Months Trailing:

     

Return on Assets (%)

9.3

   

Return on Equity (%)

36.1

   

Operating Margin (%)

12.1

   

Profit Margin (%)

7.9

   

Total Assets

$671,679

$623,397

+7.7

Market Capitalization

$1,230,000

   

52-Week Range in Share Price: $30.00 to $54.62

Market Close Feb. 6th pre-release $33.67. Close Feb. 7 th $30.60

Forward P/E 16.7 Beta 0.1

Phibro sales by segment in Q2 2019 comprised:
Vaccines 7.8%; Nutritional Specialties 13.3%; Animal Health Products 63.8%; Mineral Nutrition 28.4%.

In commenting on Q2 results Jack Bendheim, Chairman, president and CEO stated, "we are encouraged by the continued progress of our Animal Health business in the face of numerous economic and market challenges," He added "growth in international markets demonstrates the strength of our portfolio and has more than offset domestic sales declines from the ongoing difficult dairy sector and the loss of a vaccine distribution arrangement. Overall, international regions grew despite unfavorable currency and economic conditions in certain countries. Our Mineral Nutrition business showed encouraging progress in the quarter, even though profitability continues to be below last year.

Bendheim concluded, "we continue to invest operating expense dollars to develop future growth opportunities. At the same time, we have minimized operational spending as much as possible to protect current year profitability,"


 
Copyright 2019 Simon M. Shane