Phibro Animal Health Corporation reported significant financial growth in its latest quarterly results, with net sales reaching $347.8 million for the three months ended March 31, 2025, a 32% increase from $263.2 million in the same period last year. The company's gross profit also rose to $104.6 million, up 31% from $79.6 million, while net income surged to $20.9 million compared to $8.4 million in the prior year. This growth was primarily driven by the acquisition of Zoetis' medicated feed additives portfolio, which contributed $77 million to the Animal Health segment's sales.
In terms of operational metrics, Phibro's Animal Health segment saw a 42% increase in sales, totaling $258.4 million, largely due to the newly acquired product lines. The Mineral Nutrition and Performance Products segments also experienced growth, with sales increasing by 4% and 28%, respectively. The company reported a gross margin of 30.1%, slightly down from 30.2% a year earlier, impacted by inventory write-offs and acquisition-related costs. However, excluding these factors, gross profit margins improved, reflecting higher sales and favorable pricing.
Phibro's selling, general, and administrative expenses rose to $71.1 million, a 19% increase attributed to higher employee-related costs and acquisition expenses. Interest expenses also increased significantly, totaling $9.4 million, reflecting the higher debt levels following the acquisition financing. The company reported foreign currency gains of $5.5 million, a notable improvement from the previous year's losses, which contributed positively to the overall financial performance.
Looking ahead, Phibro maintains a positive outlook, supported by its strategic acquisition and ongoing initiatives aimed at revenue growth and cost savings. The company expects to leverage its expanded product portfolio and enhanced operational capabilities to drive further growth. As of March 31, 2025, Phibro had $60.4 million in cash and cash equivalents, with a working capital ratio of 2.82:1, indicating a strong liquidity position to support its operational needs and future investments.
About PHIBRO ANIMAL HEALTH CORP
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