Filing Flows › Phibro Animal Health (PAHC) › Q2 FY26
Phibro Animal Health (PAHC) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Feb 4, 2026
Phibro Animal Health (PAHC) reported revenue of $374M for the second quarter fiscal 2026 (Q2 FY26), +21% from a year earlier and +3% from the quarter before. Operating margin was 13.5%, net earnings $27.5M (7.3% of revenue).
Phibro Animal Health, Q2 FY26: revenue $374M (+21% year over year), operating margin 13.5%, net earnings $27.5M, operating cash flow $19.4M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $374M | +3% | +21% |
| Gross profit | $133M | +11% | +30% |
| Operating profit | $50.3M | -2% | +97% |
| Net earnings | $27.5M | +4% | +762% |
| Operating cash flow | $19.4M | +108% | +529% |
| Free cash flow | $8.3M | — | — |
What changed
Revenue was $373.9M in Q2 FY26, up 21% year over year and up 3% from the previous quarter. MFAs and other was the largest line at 54% of revenue. MFAs and other added $51.8M year over year (up 34%), 80% of the total change. Performance Products declined 10%.
Gross margin was 35.5%, up 2.5 points from a year earlier. Operating profit was $50.3M, a 13.5% margin (up 5.2 points year over year). Of the extra revenue versus a year earlier, 38% reached operating profit, above the 8% margin then. Operating expenses grew 8% against revenue growth of 21%. Net earnings were $27.5M, up 762% year over year. The effective tax rate was 24.6%.
Operating cash flow was $19.4M (up 529% year over year), 70% of net earnings. Non-cash charges added back $12.9M of depreciation and amortization and $434K of share-based compensation. Working capital and other items used $21.4M. Capital expenditures of $11.1M left free cash flow of $8.3M.
Questions
What was Phibro Animal Health's revenue in the second quarter fiscal 2026?
Phibro Animal Health (PAHC) reported revenue of $374M for the second quarter fiscal 2026 (Q2 FY26), +21% from a year earlier and +3% from the quarter before.
Was Phibro Animal Health profitable in the second quarter fiscal 2026?
Operating profit was $50.3M (13.5% of revenue) and net earnings $27.5M.