Phibro Animal Health Corporation · NASDAQ:PAHC
Phibro Animal Health — Q3 FY2019 Earnings Presentation
13 slides from Phibro Animal Health's earnings presentation, May 7, 2019
Slide 1: Phibro Animal Health Corporation Third Quarter – March 31, 2019
Phibro Animal Health Corporation Third Quarter – March 31, 2019 U.S. toll-free +1-877-853-5634 Webcast and Conference Call International toll +1-315-625-6893 May 7, 2019 Conference ID: 5679217
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 May 7, 2019 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 Q3 – March 2019 For the three months ended 2019 2018 Change March 31 (in millions, except per share amounts and percentages) Net sales $ 205.7 $ 208.9 $ (3.2) (2)% Net sales decrease due to volume declines in Animal Health and Mineral Nutrition, offset by growth in Performance Net income
Slide 6: Selected Line Items
Selected Line Items Q3 – March 2019 Adjusted gross profit decline For the three months ended March 31 2019 2018 Change (in millions, except per share amounts and percentages) - Animal Health volume declines and unfavorable mix Net sales $ 205.7 $ 208.9 $ (3.2) (2)% - Mineral Nutrition lower volume A
Slide 7: Animal Health
Animal Health Q3 – March 2019 MFAs and other - International sales volume growth in Asia Pacific Animal Health - Lower domestic demand in poultry and swine sectors For the three months ended 2019 2018 Change March 31 Nutritional specialties (in millions, except percentages) - Continued decline in da
Slide 8: Other Segments
Other Segments Q3 – March 2019 For the three months ended Mineral Nutrition 2019 2018 Change March 31 (in millions, except percentages) - Sales decrease due to lower volume, partially offset by a modest increase in selling prices Mineral Nutrition Net sales $ 60.7 $ 62.9 $ (2.3) (4)% - Adjusted EBIT
Slide 9: Capitalization and Capital Allocation
Capitalization and Capital Allocation March 31, 2019 2.7x leverage ratio at March 31, 2019 - $330 million total debt - $125 million LTM Adjusted EBITDA $85 million cash and short-term investments on hand at March 31, 2019 $8 million source of cash before financing for the March 2019 quarter Quarterl
Slide 10: Updated Guidance
Updated Guidance Phibro Animal Health Corporation Updated Guidance for fiscal year 2019 Change from Previous For the year ending June 30 2019 2018 Change from 2018 Guidance (in millions, except per share amounts and percentages) Net sales - Animal Health segment $ 529 - $ 532 $ 532 (1)% - 0% $ (21)
Slide 11: Updated Guidance
Updated Guidance Domestic poultry – seasonal programs reduced demand Continued decline in domestic dairy China Q3 sales strong on programmed deliveries, but forward sales expected to be weaker on African Swine Fever Uncertain as to timing, but global production response could be positive 11 May 7, 2
Slide 12: Q&A Session
Q&A Session 12 May 7, 2019 Webcast and Conference Call
Slide 13: © 2019 Phibro Animal Health Corporation trademarks notice
© 2019 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
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