Filing Flows › Phibro Animal Health (PAHC) › Q1 FY26
Phibro Animal Health (PAHC) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Nov 5, 2025
Phibro Animal Health (PAHC) reported revenue of $364M for the first quarter fiscal 2026 (Q1 FY26), +40% from a year earlier and -4% from the quarter before. Operating margin was 14.1%, net earnings $26.5M (7.3% of revenue).
Phibro Animal Health, Q1 FY26: revenue $364M (+40% year over year), operating margin 14.1%, net earnings $26.5M, operating cash flow $9.3M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $364M | -4% | +40% |
| Gross profit | $120M | +9% | +43% |
| Operating profit | $51.3M | +52% | +190% |
| Net earnings | $26.5M | +54% | +280% |
| Operating cash flow | $9.3M | -56% | -26% |
What changed
Revenue was $363.9M in Q1 FY26, up 40% year over year and down 4% from the previous quarter. MFAs and other was the largest line at 54% of revenue. MFAs and other added $87.4M year over year (up 81%), 84% of the total change. Performance Products declined 7%.
Gross margin was 32.9%, up 0.9 points from a year earlier. Operating profit was $51.3M, a 14.1% margin (up 7.3 points year over year). Of the extra revenue versus a year earlier, 32% reached operating profit, above the 7% margin then. Operating expenses grew 4% against revenue growth of 40%. Net earnings were $26.5M, up 280% year over year. The effective tax rate was 26.9%.
Operating cash flow was $9.3M (down 26% year over year), 35% of net earnings. Non-cash charges added back $12.8M of depreciation and amortization and $339K of share-based compensation. Working capital and other items used $30.4M. Capital expenditures of $13.8M exceeded it, leaving free cash flow of −$4.5M.
Questions
What was Phibro Animal Health's revenue in the first quarter fiscal 2026?
Phibro Animal Health (PAHC) reported revenue of $364M for the first quarter fiscal 2026 (Q1 FY26), +40% from a year earlier and -4% from the quarter before.
Was Phibro Animal Health profitable in the first quarter fiscal 2026?
Operating profit was $51.3M (14.1% of revenue) and net earnings $26.5M.