Phibro Animal Health
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Phibro Animal Health (PAHC) investor relations material

Phibro Animal Health Q2 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2026 earnings summary5 Feb, 2026

Executive summary

  • Net sales for Q2 FY26 rose 21% year-over-year to $373.9 million, driven by strong Animal Health segment growth and the integration of the MFA portfolio, including the Zoetis acquisition.

  • Adjusted EBITDA grew 41% to $68.1 million, and adjusted net income rose 60% to $35.7 million.

  • Net income increased to $27.5 million from $3.2 million, with diluted EPS up to $0.67 from $0.08.

  • Leadership transition announced, with Donnie Bendheim to become CEO in July, ensuring continuity and momentum.

  • Full-year guidance was raised, reflecting continued momentum in core businesses and successful portfolio integration.

Financial highlights

  • Gross profit increased 30% to $132.7 million, with gross margin up to 35.5% from 32.9% year-over-year.

  • Operating income nearly doubled to $50.3 million, up $24.8 million year-over-year.

  • Free cash flow for the trailing twelve months was $47.3 million; cash and equivalents stood at $74.5 million.

  • Quarterly dividend of $0.12 per share, totaling $4.9 million paid.

  • Interest expense increased to $11.8 million due to higher debt from the acquisition financing.

Outlook and guidance

  • Fiscal 2026 net sales guidance raised to $1.45–$1.5 billion (12–16% growth, midpoint 14%).

  • Adjusted EBITDA guidance increased to $245–$255 million (33–39% growth, midpoint 36%).

  • Adjusted net income guidance raised to $120–$127 million (41–49% growth, midpoint 45%).

  • Adjusted diluted EPS projected at $2.93–$3.10, up 44%.

  • Adjusted effective tax rate expected to remain at 25%.

MFA portfolio's gross margin contribution?
Impact of interest rate swap expiration on debt cost?
Sustainability of nutritional specialty/vaccine growth?
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Frequently asked questions

Phibro Animal Health Corporation develops, manufactures, and supplies a range of animal health and mineral nutrition products for livestock primarily in the United States. It offers antibiotics, pharmaceutical specialties, nutritional specialty products, anti-parasitics and fly control products, vaccines, wound care and hygiene products; and trace minerals for food animals.

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