Phibro Animal Health Corporation (Nasdaq: PAHC) has announced the appointment of Glenn C. David as its new Chief Financial Officer effective February 9, 2024. Mr. David brings over 30 years of experience in commercial and financial leadership roles, with his most recent role being Executive Vice President and Group President, US Operations, Diagnostics, Biodevices and Insurance at Zoetis Inc.
Jack Bendheim, Phibro's Chairman, President, and Chief Executive Officer, expressed his excitement about Glenn David's appointment, noting that David's wealth of knowledge and experience in financial matters and the animal health industry will be beneficial for the company as it continues to grow its business and bring value to its shareholders. Bendheim also thanked Dick Johnson, who served as Phibro's Chief Financial Officer for more than 18 years, for leading the company through the transition period and ensuring the continued success of its business.
Phibro Animal Health Corporation is a leading global diversified animal health and nutrition company, aiming to be a trusted partner with livestock producers, farmers, veterinarians, and consumers who raise or care for farm and companion animals by providing solutions to help maintain and enhance the health of their animals.
The company's shares have moved 1.2% and are now trading at a price of $10.85.
The company's full 8-K submission is available here.
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|---|
| Revenue (k) | $819,982 | $827,995 | $800,354 | $833,350 | $942,261 | $977,889 |
| Revenue Growth | n/a | 0.98% | -3.34% | 4.12% | 13.07% | 3.78% |
| Gross Margins | 33% | 32% | 32% | 33% | 30% | 30% |
| Operating Margins | 12% | 10% | 9% | 9% | 8% | 7% |
| Net Margins | 8% | 7% | 4% | 7% | 5% | 3% |
| Net Income (k) | $64,883 | $54,713 | $33,552 | $54,385 | $49,175 | $32,606 |
| Net Interest Expense (k) | -$11,910 | -$11,776 | -$12,856 | -$12,880 | -$11,875 | $14,575 |
| Depreciation & Amort. (k) | $21,044 | $21,423 | $23,250 | $23,165 | $23,781 | $34,012 |
| Earnings Per Share | $1.61 | $1.35 | $0.83 | $1.34 | $1.21 | $0.81 |
| EPS Growth | n/a | -16.15% | -38.52% | 61.45% | -9.7% | -33.06% |
| Diluted Shares (k) | 40,523 | 40,504 | 40,504 | 40,504 | 40,504 | 40,504 |
| Free Cash Flow (k) | $51,460 | $17,035 | $25,303 | $18,986 | -$5,395 | -$38,484 |
| Capital Expenditures | $18,548 | $31,891 | $34,045 | $29,320 | $37,044 | $51,794 |
| Current Ratio | 3.25 | 3.03 | 2.86 | 3.05 | 3.47 | 3.39 |
| Total Debt (k) | $236,278 | $220,986 | $227,568 | $302,817 | $307,226 | $351,162 |
| Net Debt / EBITDA | 1.71 | 1.86 | 2.09 | 2.44 | 2.32 | 2.91 |
Phibro Animal Health's financial statements include several red flags such as slimmer gross margins than its peers, weak operating margins with a negative growth trend, and declining EPS growth. Additionally, the firm has positive cash flows. On the other hand, the company benefits from rapidly growing revenues and increasing reinvestment in the business and an excellent current ratio of 3.39. Furthermore, Phibro Animal Health has significant leverage levels.
