Phibro hits 3-year low on weak Q4, FY 20 forecast

Phibro Animal Health

28/08/2019 16:10

** Animal health company's shares  PAHC.O  fall ~27% to
$23.05, lowest in over 3 years
    ** Company posts Q4 adj profit of $0.33/shr vs Refinitiv
IBES est of $0.36  urn:newsml:reuters.com:*:nBw2W0p43a
    ** Expects a decrease of $0.38 to $0.45/shr in FY20 adj
profit; Sees adj profit of $1.08-$1.15/shr for the year
    ** Company, which produces vaccines, medicated feed
additives and animal nutrition, says the effects of African
Swine Fever (ASF) have significantly impacted performance in Q4
and will have an even larger impact in FY 20
    ** Credit Suisse lowers FY 20 EPS est to $1.11 from $1.63,
on reduced demand in China on ASF headwinds and unfavorable
regulatory dynamics
    ** Company misses profit estimates for fourth time in last 8
quarters 
    ** Up to Tuesday's close, PAHC had fallen ~2% YTD

 (Reporting by Manojna Maddipatla in Bengaluru)
 ((manojna.kalyani@thomsonreuters.com; within the U.S. +1 646
223 8780, outside the U.S. +91  80 6749 1692))