Phibro Animal Health Corporation reported significant financial growth in its latest quarterly results, with net sales reaching $309.3 million for the three months ended December 31, 2024, a 24% increase from $249.9 million in the same period last year. For the six-month period, net sales totaled $569.7 million, up 18% from $481.3 million. The company's gross profit also saw a substantial rise, increasing by 30% to $101.9 million for the quarter and by 27% to $185.4 million for the half-year, reflecting improved sales volumes and pricing strategies.
The company attributed its growth to the successful integration of the medicated feed additives portfolio acquired from Zoetis, which contributed $36.7 million in revenue during the quarter. The Animal Health segment, which includes medicated feed additives, nutritional specialties, and vaccines, reported a 33% increase in sales to $229.4 million. This growth was complemented by a 3% increase in the Mineral Nutrition segment and a 7% rise in Performance Products, indicating broad-based demand across its product lines.
Phibro's operational metrics also showed positive trends, with selling, general, and administrative expenses rising to $76.3 million, primarily due to acquisition-related costs and increased employee-related expenses. The company reported an operating income of $25.5 million for the quarter, a 63% increase compared to the previous year. However, interest expenses surged to $9.0 million, reflecting higher debt levels associated with the acquisition financing. Foreign currency losses also impacted the bottom line, totaling $11.7 million for the quarter.
Looking ahead, Phibro remains optimistic about its growth trajectory, bolstered by the recent acquisition and ongoing demand for its products. The company has indicated that it expects to maintain adequate liquidity and capital resources to support its operations and strategic initiatives, despite potential macroeconomic challenges. As of December 31, 2024, Phibro had $67.1 million in cash and cash equivalents, alongside a robust working capital position, suggesting a solid foundation for future investments and growth opportunities.
About PHIBRO ANIMAL HEALTH CORP
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