Capital expenditure amounted to $18.5 million in this period, reflecting a reduction from $20.9 million in the year-ago period. Phibro generated $70 million of cash flow from operations in fiscal 2018, down from the year-ago $98.4 million. However, operating margin expanded 20 bps to 12.3% in the quarter. Selling, general and administrative expenses rose 5% to $41.4 million. However, gross margin contracted 50 basis points (bps) to 31.9%. Phibro’s fourth-quarter gross profit increased 7% year over year to $67.5 million. Phibro Animal Health Corporation Price, Consensus and EPS Surprise Net sales at the Mineral Nutrition segment rose 14% to $60.3 million on higher average selling prices resulting from an increase in underlying raw material commodity price. Domestic net sales at MFAs and Other remained flat year over year. International net sales were driven by growth in most regions, including benefits from a recent buyout and additional penetration in the cattle sector. Moreover, sales at Medicated feed additives (MFAs) and other grew 9% primarily on strength in international business. Further, sales from Vaccines increased 7%, majorly on global volume growth. Nutritional specialty products grew less than 1%, principally on volume growth of products for poultry which was largely offset by decreased sales to the dairy sector which is grappling with weak conditions. Net sales at the Animal Health segment increased 7% to $137.7 million in the reported quarter on volume increase at Nutritional specialty and Vaccine product groups within the segment. The figure also surpassed the Zacks Consensus Estimate of $817.2 million. The improvement was driven by sales growth at the Animal Health, Mineral Nutrition and Performance Products segments.įiscal 2018 revenues of $820 million were up 7.3% from the year-ago figure. In the reported quarter, net sales totaled $211.8 million, up 8.7% year over year. Also, the figure beat the Zacks Consensus Estimate of $1.71. Reported EPS of 55 cents was up 44.7% from a year ago.įull-year adjusted EPS came in at $1.74, up from the year-ago $1.51. Adjusted EPS surpassed the Zacks Consensus Estimate of 44 cents.Īccording to the company, the year-over-year improvement was primarily driven by higher gross profit, reduced interest expenses as well as a drop in effective income tax rate. Phibro Animal Health Corporation PAHC reported adjusted earnings per share (EPS) of 46 cents in the fourth quarter of fiscal 2018, up 17.9% year over year.
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