Brief: Phibro Animal Health Corporation Reports Second Quarter Results

Phibro Animal Health

04/02/2020 24:32

Feb 3 (Reuters) - Phibro Animal Health Corp  PAHC.O :
    * ORATION REPORTS SECOND QUARTER RESULTS
    * QTRLY DILUTED EPS OF $0.29
    * ANIMAL HEALTH SALES GROWTH ACCELERATED IN Q2, DESPITE
CONTINUING
NEGATIVE OVERLAP FROM OUR CHINA MFA SALES
    * QTRLY NET SALES OF $214 MILLION, A DECREASE OF $4 MILLION,
OR 2%
    * QTRLY ADJUSTED DILUTED EPS OF $0.34
    * UPDATED OUR FINANCIAL GUIDANCE FOR FISCAL YEAR ENDING JUNE
30,
2020
    * PHIBRO ANIMAL HEALTH - EXPECT ANIMAL HEALTH SALES GROWTH
WILL
CONTINUE TO IMPROVE FOR BALANCE OF FISCAL YEAR
    * 2020 GAAP, ADJUSTED EPS GUIDANCE HAS IMPROVED FROM INITIAL
EXPECTATIONS, DUE TO A LOWER LEVEL OF NET INTEREST EXPENSE
    * 2020 GUIDANCE FOR ADJUSTED EBITDA IS UNCHANGED
    * Q2 EARNINGS PER SHARE VIEW $0.29 -- REFINITIV IBES DATA
    * PHIBRO ANIMAL HEALTH - CONSOLIDATED NET SALES DECLINED
COMPARED
TO LAST YEAR, PRIMARILY DUE TO LOWER AVERAGE SELLING PRICES IN
MINERAL NUTRITION BUSINESS
    * SEES 2020 ADJUSTED EARNINGS PER SHARE $1.15-$1.22
    * FY 2020 REDUCED SALES EXPECTATIONS ARE PRIMARILY RELATED
TO THE
MINERAL NUTRITION BUSINESS
    * SEES 2020 EARNINGS PER SHARE $0.88 - $0.95

Source text for Eikon:  ID:nBwjWdPwa 
Further company coverage:  PAHC.O 

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