Phibro Animal Health Corporation announced net sales of $309.3 million for the second quarter ended December 31, 2024, marking a 24% increase or $59.3 million compared to the prior-year quarter. The Animal Health segment was a primary driver, with sales rising 33% to $229.4 million, including $36.7 million in incremental revenues from the Zoetis MFA portfolio. Nutritional specialties grew 11%, and vaccines increased 12%.
Gross profit for the quarter increased 30% to $101.9 million, with the gross margin improving by 140 basis points to 32.9% of net sales. Excluding acquisition-related purchase accounting adjustments, the gross margin increased by 200 basis points to 33.5%. Selling, general, and administrative expenses increased 21% to $76.3 million, including $8.8 million for acquisition-related costs and $1.7 million for Phibro Forward initiatives.
Net income for the quarter was $3.2 million, up from $1.3 million in the prior year, resulting in diluted EPS of $0.08. Adjusted EBITDA surged 64% to $48.2 million, and adjusted diluted EPS increased to $0.54. The company updated its full-year fiscal 2025 guidance, now including the Zoetis MFA acquisition, projecting net sales between $1.25 billion and $1.30 billion, adjusted EBITDA between $160 million and $170 million, and adjusted diluted EPS between $1.87 and $2.01.
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