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v3.25.1

Business Segments | 9 Months Ended
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Mar. 31, 2025
Business Segments |
Business Segments | 12. Business Segments We evaluate performance and allocate resources, based on the Animal Health, Mineral Nutrition and Performance Products segments. Certain of our costs and assets are not directly attributable to a segment or segments and we refer to these items as Corporate. We do not allocate Corporate costs or assets to the other segments because they are not used to evaluate the segments’ operating results or financial position. Corporate costs include certain costs related to executive management, information technology, legal, finance, human resources and business development. The accounting policies of our segments are the same as those described in the summary of significant accounting policies included herein. We evaluate performance of our segments based on Adjusted EBITDA. We calculate Adjusted EBITDA as net income plus (a) interest expense, net, (b) provision for income taxes or less benefit for income taxes, (c) depreciation and amortization, (d) other expense or less other income as separately reported on our consolidated statements of operations, including foreign currency (gains) losses, net and (e) certain items that we consider to be unusual, non-operational or non-recurring. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three Months |  | Nine Months
For the Periods Ended March 31 |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net sales |  |  |  |  |  |  |  |  |  |  |  |
Animal Health | ​ | $ | 258,377 | ​ | $ | 181,333 | ​ | $ | 670,318 | ​ | $ | 514,967
Mineral Nutrition | ​ |  | 66,774 | ​ |  | 64,228 | ​ |  | 189,086 | ​ |  | 181,601
Performance Products | ​ |  | 22,674 | ​ |  | 17,662 | ​ |  | 58,114 | ​ |  | 47,947
Total segments | ​ | $ | 347,825 | ​ | $ | 263,223 | ​ | $ | 917,518 | ​ | $ | 744,515
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Depreciation and amortization | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 11,369 | ​ | $ | 7,695 | ​ | $ | 29,318 | ​ | $ | 22,392
Mineral Nutrition | ​ |  | 524 | ​ |  | 601 | ​ |  | 1,555 | ​ |  | 1,907
Performance Products | ​ |  | 277 | ​ |  | 432 | ​ |  | 902 | ​ |  | 1,291
Total segments | ​ | $ | 12,170 | ​ | $ | 8,728 | ​ | $ | 31,775 | ​ | $ | 25,590
Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Animal Health | ​ | $ | 63,123 | ​ | $ | 36,524 | ​ | $ | 161,684 | ​ | $ | 104,317
Mineral Nutrition | ​ |  | 5,762 | ​ |  | 4,665 | ​ |  | 15,226 | ​ |  | 11,053
Performance Products | ​ |  | 3,336 | ​ |  | 2,371 | ​ |  | 7,513 | ​ |  | 4,597
Total segments | ​ | $ | 72,221 | ​ | $ | 43,560 | ​ | $ | 184,423 | ​ | $ | 119,967
Reconciliation of income before income taxes to Adjusted EBITDA | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Income before income taxes | ​ | $ | 29,688 | ​ | $ | 12,922 | ​ | $ | 44,146 | ​ | $ | 4,508
Interest expense, net | ​ |  | 9,355 | ​ |  | 4,575 | ​ |  | 25,992 | ​ |  | 13,798
Depreciation and amortization – Total segments | ​ |  | 12,170 | ​ |  | 8,728 | ​ |  | 31,775 | ​ |  | 25,590
Depreciation and amortization – Corporate | ​ |  | 446 | ​ |  | 468 | ​ |  | 1,419 | ​ |  | 1,387
Corporate costs | ​ | ​ | 17,335 | ​ | ​ | 13,856 | ​ | ​ | 50,706 | ​ | ​ | 42,160
Acquisition-related cost of goods sold | ​ | ​ | 1,708 | ​ | ​ | 211 | ​ | ​ | 3,342 | ​ | ​ | 521
Acquisition-related other | ​ | ​ | 636 | ​ | ​ | 512 | ​ | ​ | 12,875 | ​ | ​ | 512
Pension settlement cost | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 10,674
Brazil employment taxes | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,202
Insurance settlement gain | ​ | ​ | (1,546) | ​ | ​ | (274) | ​ | ​ | (2,803) | ​ | ​ | (274)
Stock-based compensation expense | ​ | ​ | 179 | ​ | ​ | 135 | ​ | ​ | 538 | ​ | ​ | 296
Phibro Forward income growth initiatives - cost of goods sold (1) | ​ | ​ | 3,798 | ​ | ​ | — | ​ | ​ | 3,798 | ​ | ​ | —
Phibro Forward income growth initiatives - SG&A (1) | ​ | ​ | 3,980 | ​ | ​ | — | ​ | ​ | 6,026 | ​ | ​ | ​
Foreign currency (gains) losses, net | ​ |  | (5,528) | ​ |  | 2,427 | ​ |  | 6,609 | ​ |  | 16,593
Adjusted EBITDA – Total segments | ​ | $ | 72,221 | ​ | $ | 43,560 | ​ | $ | 184,423 | ​ | $ | 119,967
​
| (1) | Phibro Forward is a company-wide initiative focused on unlocking additional areas of revenue growth and cost savings. For the three and nine months ended March 31, 2025, this includes $5.3 million for non-cash asset write-offs, of which $3.8 million was recorded within cost of goods sold, and $1.5 million was recorded within selling, general, and administrative expenses, related to the closure of an immaterial business within the Animal Health segment.
| (2) |
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, |  | June 30,
As of |  | 2025 |  | 2024
Identifiable assets |  | ​ |  |  | ​ |
Animal Health | ​ | $ | 1,041,878 | ​ | $ | 684,407
Mineral Nutrition | ​ |  | 78,922 | ​ |  | 67,088
Performance Products | ​ |  | 51,768 | ​ |  | 50,862
Total segments | ​ |  | 1,172,568 | ​ |  | 802,357
Corporate | ​ |  | 144,692 | ​ |  | 179,827
Total | ​ | $ | 1,317,260 | ​ | $ | 982,184
​ The Animal Health segment includes all goodwill of the Company. Corporate assets include cash and cash equivalents, short-term investments, debt issuance costs, income tax-related assets and certain other assets.

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- Definition The entire disclosure for reporting segments including data and tables. 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