Phibro Files Annual Report on Record $1.52bn Year as Zoetis MFA Integration Delivers 39% EBITDA Jump

Phibro Animal Health has filed its Annual Report to Security Holders covering a fiscal year in which net sales reached a record $1.518 billion, up 17%, and adjusted EBITDA rose 39% to $255 million — the first full twelve months incorporating the acquired Zoetis medicated feed additive portfolio. Guidance for fiscal 2027 is notably more measured, with a Brazilian regulatory change on virginiamycin removing a high-margin revenue stream.

For the year ended 30 June 2026, Phibro reported net sales of $1,518.1 million, an increase of $221.9 million. Net income reached $99.7 million, up $51.5 million, with diluted EPS of $2.43 against $1.19 a year earlier. Adjusted net income rose 49% to $131.7 million and adjusted diluted EPS 48% to $3.22.

Growth was broad rather than acquisition-dependent. The legacy business grew 7% across the year and 10% in the fourth quarter. The Animal Health segment expanded 21%, Mineral Nutrition 11% to $282.3 million, while Performance Products declined 8%. Within Animal Health, vaccines grew 14% and nutritional specialties 9%. The acquired Zoetis MFA portfolio rose 70% across the full year, though it fell 11% in the fourth quarter against a demanding comparison.

Fourth quarter net sales were $396.7 million, up 5%, with adjusted EBITDA of $64.2 million, up 29%.
Cash generation remains the softer element. Operating cash flow was $69 million against capital expenditure of $59 million, leaving free cash flow of $10 million, with inventory building $86.3 million as the acquired portfolio was stocked.

Fiscal 2027 guidance points to net sales of $1.55–$1.60 billion and adjusted EBITDA of $258–$268 million , roughly 3% growth at the midpoint. CFO Glenn David flagged that virginiamycin sales in Brazil, worth approximately $27 million in fiscal 2026, are expected to be minimal, with the high-margin nature of the product weighing on EBITDA more than revenue. The planned Chicago Heights closure is expected to deliver $15–20 million in annual savings from fiscal 2028.