Phibro Animal Health Corporation · NASDAQ:PAHC
Phibro Animal Health — Q1 FY2019 Earnings Presentation
13 slides from Phibro Animal Health's earnings presentation, Nov 7, 2018
Slide 1: Phibro Animal Health Corporation First Quarter – September 30, 2018
Phibro Animal Health Corporation First Quarter – September 30, 2018 U.S. toll-free +1-877-853-5634 Webcast and Conference Call International toll +1-315-625-6893 November 7, 2018 Conference ID: 6274808
Slide 2: Cautionary Statements
Cautionary Statements Forward-Looking Statements This communication contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical or current fact included in this report are forward-looking statements. Forward-looking statements d
Slide 3: Opening Remarks and Financial Review
Opening Remarks and Financial Review Jack Bendheim Chairman, President, Chief Executive Officer Richard Johnson Chief Financial Officer 3 November 7, 2018 Webcast and Conference Call
Slide 4: GAAP and Non-GAAP Financial Information
GAAP and Non-GAAP Financial Information Reported results are presented in accordance with GAAP Adjusted results are GAAP results adjusted to exclude - Acquisition-related items, including intangible amortization, cost of goods sold, accrued compensation costs, transaction costs and accrued interest
Slide 5: Highlights
Highlights Q1 – September 2018 Sales growth across all segments For the three months ended 2018 2017 Change Net income and diluted EPS growth due to September 30 increased operating income and foreign exchange (in millions, except per share amounts and percentages) gains, offset by increased tax exp
Slide 6: Selected Line Items
Selected Line Items Q1 – September 2018 Adjusted gross profit increased on volume growth For the three months ended September 30 2018 2017 Change - Animal Health and Performance Products volume (in millions, except per share amounts and percentages) growth, offset by Mineral Nutrition reduced margin
Slide 7: Animal Health
Animal Health Q1 – September 2018 MFAs and other - International sales volume growth in cattle sector For the three months ended 2018 2017 Change - Domestic sales growth contributed September 30 (in millions, except percentages) Nutritional specialties MFAs and other $ 87.0 $ 79.6 $ 7.4 9% - Continu
Slide 8: Other Segments
Other Segments Q1 – September 2018 Mineral Nutrition For the three months ended 2018 2017 Change – Sales growth on higher average selling prices due September 30 (in millions, except percentages) to increased commodity pricing Mineral Nutrition Net sales $ 54.8 $ 52.1 $ 2.8 5% – Adjusted EBITDA decr
Slide 9: Capitalization, Capital Allocation and Guidance
Capitalization, Capital Allocation and Guidance September 30, 2018 2.5x leverage ratio at September 30, 2018 - $326 million total debt - $129 million LTM Adjusted EBITDA $76 million cash and short-term investments on hand at September 30, 2018 $15 million use of cash before financing activities for
Slide 10: Updated Guidance
Updated Guidance Phibro Animal Health Corporation Guidance for fiscal year 2019 For the year ending June 30 2019 2018 Change from 2018 (in millions, except per share amounts and percentages) Net sales - Animal Health segment $ 550 - $ 565 $ 532 $ 18 - $ 33 3% - 6% Net sales $ 850 - $ 875 $ 820 $ 30
Slide 11: Updated Guidance
Updated Guidance Updated annual expected effective income tax rate to 28.0% - 28.5% - Increase of 1.0 - 1.5 percentage points over previous guidance - Expected to be subject to GILTI provisions of the new U.S. Tax Act, related to allocation of domestic interest expense and certain other expenses Adj
Slide 12: Q&A Session
Q&A Session 12 November 7, 2018 Webcast and Conference Call
Slide 13: © 2018 Phibro Animal Health Corporation, Teaneck, NJ 07666 Phibro; Phibro logo design; Healthy
© 2018 Phibro Animal Health Corporation, Teaneck, NJ 07666 Phibro; Phibro logo design; Healthy Animals. Healthy Food. Healthy World.; AB20; Animate; Aviax; Cellerate Yeast Solutions; Gemstone; Lactrol; Magni-Phi; Mecadox; MJPRRS; Neo-Terra; Neo- Terramycin; Neo-TM; Nicarb; OmniGen-AF; PAQ-Gro; Stafa
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