Phibro Animal Health Corporation · NASDAQ:PAHC
Phibro Animal Health — Q3 2021 Earnings Presentation
14 slides from Phibro Animal Health's earnings presentation, May 7, 2021
Slide 1: Phibro Animal Health Corporation Webcast and Conference Call
Phibro Animal Health Corporation Webcast and Conference Call Financial Results May 7, 2021 Third Quarter - ended March 31, 2021 U.S. toll-free +1-833-968-1955 Fiscal Year 2021 International toll +1-647-689-6656 Conference ID: 2181337
Slide 2: Important Information
Important Information Cautionary Statement Regarding Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties, including with respect to future debt and leverage levels. All statements other than statements of historical or current
Slide 3: Key Themes
Key Themes Third Quarter COVID-19 Refinancing Solid financial Formalized our recovery varies Completed performance ESG Efforts by country (Subsequent Event) Another strong Economic We established We extended quarter of recovery varies the Phibro and upsized financial by country; we Environmental, ou
Slide 4: Amended & Restated Credit Agreement
Amended & Restated Credit Agreement Subsequent event, executed on April 22, 2021 The amended and restated credit agreement: has an aggregate principal amount of $550 million, was used to refinance the Company’s June 29, 2017 Credit Agreement which consisted of an aggregate principal amount of $2
Slide 5: Financial Performance - Consolidated
Financial Performance - Consolidated Third Quarter, Year-on-Year comparison $ in millions, except per share data YOY Net Sales – $1.0 million or <1% increase driven by increases in Mineral Nutrition and Performance Q3 %∆ Products, partially offset by a decline in Animal Health Consolidated Net I
Slide 6: Financial Performance – Animal Health
Financial Performance – Animal Health Third Quarter, Year-on-Year comparison $ in millions Net Sales YOY MFAs and other Q3 %∆ - Timing of domestic ordering patterns coupled Animal Health with lower international demand due primarily to poultry products in South America Net Sales $ 134.4 (3%) N
Slide 7: Financial Performance – Other Segments
Financial Performance – Other Segments Third Quarter, Year-on-Year comparison $ in millions YOY Mineral Nutrition Q3 %∆ - Sales increases driven by favorable product pricing correlated with the movement of the underlying raw Mineral Nutrition material costs Net Sales $ 58.2 3% - Adjusted EBITDA dr
Slide 8: Financial Performance - Consolidated (YTD)
Financial Performance - Consolidated YTD Third Quarter, Year-on-Year comparison $ in millions, except per share data YOY Net Sales – $1.4 million or <1% decrease driven by an increase in Performance Products, more than YTD Q3 %∆ offset by decreases in Animal Health and Mineral Nutrition Consolidat
Slide 9: Financial Performance – Animal Health (YTD)
Financial Performance – Animal Health YTD Third Quarter, Year-on-Year comparison $ in millions Net Sales YOY MFAs and other YTD Q3 %∆ - Domestic growth in swine, more than offset by Animal Health lower international demand primarily in APAC and South America Net Sales $ 399.0 (1%) Nutritional
Slide 10: Financial Performance – Other Segments (YTD)
Financial Performance – Other Segments YTD Third Quarter, Year-on-Year comparison $ in millions YOY Mineral Nutrition YTD Q3 %∆ - Increased unit volumes offset by unfavorable product pricing correlated with the movement of the underlying raw Mineral Nutrition material costs Net Sales $ 163.8 0% -
Slide 11: Key Capitalization Metrics
Key Capitalization Metrics Third Quarter Highlights Cash Flow $26 million of cash provided before financing 3.6x gross leverage ratio; $381 million total debt / Leverage $105 million trailing 12-month Adjusted EBITDA Liquidity $164 million; $93 million of cash and short-term investments + $71 millio
Slide 12: Financial Guidance
Financial Guidance Fourth Quarter and Fiscal Year 2021 $ in millions, except per share data Q4 Fiscal Year 2021 Guidance YTD Q3 Guidance Low High Actual Low High Consolidated Net Sales $ 213.0 $ 217.0 $ 613.1 $ 826.1 $ 830.1 Net Income $ 11.1 $ 12.1 $ 37.3 $ 48.4 $ 49.4 Diluted EPS $ 0.28 $ 0.30 $ 0
Slide 13: Q&A
13 May 7, 2021 HEALTHY ANIMALS. HEALTHY FOOD. HEALTHY WORLD.° Phibro
Slide 14: Trademark notice
© 2021 Phibro Animal Health Corporation, Teaneck, NJ 07666 Phibro; Phibro logo design; Healthy Animals. Healthy Food. Healthy World.; and any other Phibro brand or brands shown herein are trademarks owned by or licensed to Phibro Animal Health Corporation or its affiliates. Any other trademark that