PHIBRO ANIMAL HEALTH CORP, 10-Q filed on 2/4/2026
Quarterly Report
v3.25.4
Document and Entity Information - $ / shares
 6 Months Ended
Dec. 31, 2025
Jan. 30, 2026
Document Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Transition Report false  
Document Period End Date Dec. 31, 2025  
Securities Act File Number 001-36410  
Entity Registrant Name Phibro Animal Health Corporation  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 13-1840497  
Entity Address, Address Line One Glenpointe Centre East, 3rd Floor  
Entity Address, Address Line Two 300 Frank W. Burr Boulevard  
Entity Address, Address Line Three Suite 21  
Entity Address, City or Town Teaneck  
Entity Address, State or Province NJ  
Entity Address, Postal Zip Code 07666-6712  
City Area Code 201  
Local Phone Number 329-7300  
Title of 12(b) Security Class A Common Stock, $0.0001 par value per share  
Trading Symbol PAHC  
Security Exchange Name NASDAQ  
Entity Current Reporting Status Yes  
Entity Filer Category Accelerated Filer  
Entity Small Business false  
Entity Interactive Data Current Yes  
Entity Emerging Growth Company false  
Entity Shell Company false  
Current Fiscal Year End Date --06-30  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Entity Central Index Key 0001069899  
Amendment Flag false  
Common Class A    
Document Information [Line Items]    
Entity Listing, Par Value Per Share $ 0.0001  
Entity Common Stock, Shares Outstanding   20,623,682
Common Class B    
Document Information [Line Items]    
Entity Listing, Par Value Per Share $ 0.0001  
Entity Common Stock, Shares Outstanding   19,911,034
v3.25.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
CONSOLIDATED STATEMENTS OF OPERATIONS        
Net sales $ 373,910 $ 309,261 $ 737,803 $ 569,693
Cost of goods sold 241,254 207,391 485,364 384,328
Gross profit 132,656 101,870 252,439 185,365
Selling, general and administrative expenses 82,330 76,337 150,853 142,133
Operating income 50,326 25,533 101,586 43,232
Interest expense, net 11,756 8,996 23,815 16,637
Foreign currency losses, net 2,145 11,699 5,079 12,137
Income before income taxes 36,425 4,838 72,692 14,458
Provision for income taxes 8,966 1,653 18,706 4,298
Net income $ 27,459 $ 3,185 $ 53,986 $ 10,160
Net income per share        
Basic (in dollars per share) $ 0.68 $ 0.08 $ 1.33 $ 0.25
Diluted (in dollars per share) $ 0.67 $ 0.08 $ 1.32 $ 0.25
Weighted average common shares outstanding        
Basic (in shares) 40,534 40,504 40,534 40,504
Diluted (in shares) 40,956 40,715 40,916 40,649
v3.25.4
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)        
Net Income (Loss) $ 27,459 $ 3,185 $ 53,986 $ 10,160
Change in fair value of derivative instruments 570 2,188 (235) (2,660)
Foreign currency translation adjustment (2,835) (11,931) 1,708 (8,763)
Unrecognized net pension gains 78 80 156 158
(Provision) benefit for income taxes (162) (567) 19 627
Other comprehensive (loss) income (2,349) (10,230) 1,648 (10,638)
Comprehensive income (loss) $ 25,110 $ (7,045) $ 55,634 $ (478)
v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
ASSETS    
Cash and cash equivalents $ 55,486 $ 68,039
Short-term investments 19,022 9,000
Accounts receivable, net 215,872 227,983
Inventories, net 517,347 444,425
Other current assets 54,458 61,159
Total current assets 862,185 810,606
Property, plant and equipment, net 355,381 354,690
Intangibles, net 33,066 36,469
Goodwill 59,814 59,645
Other assets 95,107 99,490
Total assets 1,405,553 1,360,900
LIABILITIES AND STOCKHOLDERS' EQUITY    
Current portion of long-term debt 20,638 16,250
Accounts payable 133,296 138,201
Accrued expenses and other current liabilities 128,436 139,022
Total current liabilities 282,370 293,473
Revolving credit facility 107,000 87,000
Long-term debt 603,602 615,435
Other liabilities 80,220 79,310
Total liabilities 1,073,192 1,075,218
Commitments and contingencies (Note 9)
Common stock, par value $0.0001 per share; 300,000,000 Class A shares authorized, 20,573,136 and 20,367,574 shares issued and outstanding at December 31, 2025 and June 30, 2025, respectively; 30,000,000 Class B shares authorized, 19,961,034 and 20,166,034 shares issued and outstanding at December 31, 2025 and June 30, 2025, respectively 4 4
Preferred stock, par value $0.0001 per share; 16,000,000 shares authorized, no shares issued and outstanding
Paid-in capital 137,768 136,995
Retained earnings 316,959 272,701
Accumulated other comprehensive loss (122,370) (124,018)
Total stockholders' equity 332,361 285,682
Total liabilities and stockholders' equity $ 1,405,553 $ 1,360,900
v3.25.4
CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares
Dec. 31, 2025
Jun. 30, 2025
Preferred stock    
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred stock, shares authorized (in shares) 16,000,000 16,000,000
Preferred stock, shares issued (in shares) 0 0
Preferred stock, shares outstanding (in shares) 0 0
Common Class A    
Common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 300,000,000 300,000,000
Common stock, shares issued (in shares) 20,573,136 20,367,574
Common stock, shares outstanding (in shares) 20,573,136 20,367,574
Common Class B    
Common stock    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, shares authorized (in shares) 30,000,000 30,000,000
Common stock, shares issued (in shares) 19,961,034 20,166,034
Common stock, shares outstanding (in shares) 19,961,034 20,166,034
v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OPERATING ACTIVITIES    
Net income $ 53,986 $ 10,160
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 25,721 20,578
Amortization of debt issuance costs 1,144 871
Deferred income taxes 6,009 (12,623)
Foreign currency (gains) losses, net (1,484) 11,350
Acquisition-related items 1,956 1,634
Stock-based compensation expense 773 359
Other (825) (895)
Changes in operating assets and liabilities, net of business acquisition    
Accounts receivable, net 13,699 (25,781)
Inventories, net (73,213) (24,401)
Other current assets 7,259 (5,737)
Other assets 166 4,330
Accounts payable (3,874) 14,611
Accrued expenses and other liabilities (2,663) 21,242
Net cash provided by operating activities 28,654 15,698
INVESTING ACTIVITIES    
Purchases of short-term investments (24,026)  
Maturities of short-term investments 14,004 44,000
Capital expenditures (24,903) (17,405)
Business acquisition, net of cash acquired   (290,825)
Other, net (3,273) 827
Net cash used by investing activities (38,198) (263,403)
FINANCING ACTIVITIES    
Revolving credit facility borrowings 148,000 398,000
Revolving credit facility repayments (128,000) (460,000)
Proceeds from long-term debt   650,000
Payments of long-term debt (8,125) (316,890)
Debt issuance costs   (10,377)
Payments of insurance premium financing and other short-term debt (4,792) (3,890)
Dividends paid (9,728) (9,720)
Net cash (used) provided by financing activities (2,645) 247,123
Effect of exchange rate changes on cash (364) (2,957)
Net decrease in cash and cash equivalents (12,553) (3,539)
Cash and cash equivalents at beginning of period 68,039 70,613
Cash and cash equivalents at end of period $ 55,486 $ 67,074
v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)
$ in Thousands
Common Stock
Paid-in Capital
Retained Earnings (Accumulated Deficit)
Accumulated Other Comprehensive Income (Loss)
Total
Balance at Jun. 30, 2024 $ 4 $ 136,278 $ 243,886 $ (123,527) $ 256,641
Balance (in shares) at Jun. 30, 2024 40,503,608        
Increase (Decrease) in Stockholders' Equity          
Comprehensive income (loss)     6,975 (408) 6,567
Dividends declared     (4,860)   (4,860)
Stock-based compensation expense   179     179
Balance at Sep. 30, 2024 $ 4 136,457 246,001 (123,935) 258,527
Balance (in shares) at Sep. 30, 2024 40,503,608        
Balance at Jun. 30, 2024 $ 4 136,278 243,886 (123,527) 256,641
Balance (in shares) at Jun. 30, 2024 40,503,608        
Increase (Decrease) in Stockholders' Equity          
Comprehensive income (loss)         (478)
Balance at Dec. 31, 2024 $ 4 136,637 244,326 (134,165) 246,802
Balance (in shares) at Dec. 31, 2024 40,503,608        
Balance at Sep. 30, 2024 $ 4 136,457 246,001 (123,935) 258,527
Balance (in shares) at Sep. 30, 2024 40,503,608        
Increase (Decrease) in Stockholders' Equity          
Comprehensive income (loss)     3,185 (10,230) (7,045)
Dividends declared     (4,860)   (4,860)
Stock-based compensation expense   180     180
Balance at Dec. 31, 2024 $ 4 136,637 244,326 (134,165) 246,802
Balance (in shares) at Dec. 31, 2024 40,503,608        
Balance at Jun. 30, 2025 $ 4 136,995 272,701 (124,018) 285,682
Balance (in shares) at Jun. 30, 2025 40,533,608        
Increase (Decrease) in Stockholders' Equity          
Comprehensive income (loss)     26,527 3,997 30,524
Dividends declared     (4,864)   (4,864)
Stock-based compensation expense   339     339
Balance at Sep. 30, 2025 $ 4 137,334 294,364 (120,021) 311,681
Balance (in shares) at Sep. 30, 2025 40,533,608        
Balance at Jun. 30, 2025 $ 4 136,995 272,701 (124,018) 285,682
Balance (in shares) at Jun. 30, 2025 40,533,608        
Increase (Decrease) in Stockholders' Equity          
Comprehensive income (loss)         55,634
Balance at Dec. 31, 2025 $ 4 137,768 316,959 (122,370) 332,361
Balance (in shares) at Dec. 31, 2025 40,534,170        
Balance at Sep. 30, 2025 $ 4 137,334 294,364 (120,021) 311,681
Balance (in shares) at Sep. 30, 2025 40,533,608        
Increase (Decrease) in Stockholders' Equity          
Comprehensive income (loss)     27,459 (2,349) 25,110
Dividends declared     (4,864)   (4,864)
Stock-based compensation expense   434     434
Stock-based compensation expense (in shares) 562        
Balance at Dec. 31, 2025 $ 4 $ 137,768 $ 316,959 $ (122,370) $ 332,361
Balance (in shares) at Dec. 31, 2025 40,534,170        
v3.25.4
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parentheticals) - $ / shares
 3 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Dec. 31, 2024
Sep. 30, 2024
Dividends declared        
Dividends declared (in dollars per share) $ 0.12 $ 0.12 $ 0.12 $ 0.12
v3.25.4
Description of Business
 6 Months Ended
Dec. 31, 2025
Description of Business  
Description of Business

1.  Description of Business

Phibro Animal Health Corporation (“Phibro” or “PAHC”) and its subsidiaries (together, the “Company”) is a diversified global developer, manufacturer and marketer of a broad range of animal health and mineral nutrition products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture and dogs. The Company is also a manufacturer and marketer of performance products for use in the personal care, industrial chemical and chemical catalyst industries. Unless otherwise indicated or the context requires otherwise, references in this report to “we,” “our,” “us,” and similar expressions refer to Phibro and its subsidiaries.

The unaudited consolidated financial information for the three and six months ended December 31, 2025 and 2024, is presented on the same basis as the financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025 (the “Annual Report”), filed with the Securities and Exchange Commission on August 27, 2025 (File no. 001-36410). In the opinion of management, these financial statements include all adjustments necessary for a fair statement of the financial position, results of operations and cash flows of the Company for the interim periods, and the adjustments are of a normal and recurring nature. The financial results for any interim period are not necessarily indicative of the results for the full year. The consolidated balance sheet information as of June 30, 2025 was derived from the audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America (“GAAP”). The unaudited consolidated financial information should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report.

The consolidated financial statements include the accounts of Phibro and its consolidated subsidiaries. Intercompany balances and transactions have been eliminated from the consolidated financial statements. The decision whether to consolidate an entity requires consideration of majority voting interests, as well as effective control over the entity.

​
v3.25.4
Summary of Significant Accounting Policies and New Accounting Standards
 6 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies and New Accounting Standards  
Summary of Significant Accounting Policies and New Accounting Standards

2.  Summary of Significant Accounting Policies and New Accounting Standards

Our significant accounting policies are described in the notes to the consolidated financial statements included in our Annual Report. As of December 31, 2025, there have been no material changes to any of the significant accounting policies contained therein.

Net Income per Share and Weighted Average Shares

Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period.

​

Diluted net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period after giving effect to dilutive common share equivalents resulting from the assumed vesting of restricted stock units (“RSUs”), unless the effect would be antidilutive or if the minimum stock price targets for our performance-based RSUs were not achieved during the reporting period. Common share equivalents related to time- and performance-based RSUs were included in the calculation of diluted net income per share for the three and six months ended December 31, 2025 and 2024.
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Three Months

​

Six Months

​

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

Net income

​

$

27,459

​

$

3,185

​

$

53,986

​

$

10,160

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted average number of shares – basic

​

 

40,534

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40,504

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40,534

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40,504

​

Dilutive effect of restricted stock units

​

​

422

​

​

211

​

​

382

​

​

145

​

Weighted average number of shares - diluted

​

​

40,956

​

​

40,715

​

​

40,916

​

​

40,649

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​

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​

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Net income per share

​

​

​

​

​

​

​

​

​

​

​

​

​

basic

​

$

0.68

​

$

0.08

​

$

1.33

​

$

0.25

​

diluted

​

$

0.67

​

$

0.08

​

$

1.32

​

$

0.25

​

 

 

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New Accounting Standards

Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, enhances income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The ASU outlines specific categories to be provided in the rate reconciliation and requires additional information for those reconciling items that meet a quantitative threshold. The ASU requires disaggregated disclosure of federal, state and foreign income taxes paid, including disaggregation by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than five percent of total income taxes paid (net of refunds received). The ASU also requires disaggregated disclosure of federal, state and foreign income (loss) from continuing operations before income taxes. The enhanced disclosures will be applied on a prospective basis and are required for Phibro’s fiscal year ending June 30, 2026. We are evaluating the impact of the additional income tax-related disclosures.

ASU 2024-03, (Subtopic 220-40): Disaggregation of Income Statement Expenses and ASU 2025-01, Clarifying the Effective Date, requires disclosure, in the notes to the financial statements, of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption, as well as a qualitative description of amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 also requires disclosure of the total amount of selling expenses and, in annual periods, an entity’s definition of selling expenses. The ASU will be effective for Phibro’s fiscal year ending June 30, 2028 and for interim periods thereafter, and it can be applied on a prospective basis or on a retrospective basis to all periods presented. Early adoption is permitted. We are evaluating the impact of this standard on our footnote disclosures.

ASU 2025-06, (Subtopic 350-40): Intangibles - Goodwill and Other - Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software, amends existing guidance regarding when entities may begin to capitalize internal-use software costs. Under the updated framework, entities must assess when both of the following occur: (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. The ASU will be effective for Phibro’s fiscal year ending June 30, 2029, including interim periods within that year, and it can be applied on a prospective basis, on a retrospective basis to all periods presented, or with a modified transition approach. Early adoption is permitted. We are evaluating the impact of this standard on our consolidated financial statements and disclosures.

ASU 2025-09, (Topic 815): Hedge Accounting Improvements, amends existing guidance and provides improvements to hedge accounting, including expanded eligibility of forecasted transactions, increased flexibility in measuring hedge effectiveness, and clarifications related to hedging non-financial items. The ASU will be effective for Phibro’s fiscal year ending June 30, 2028, including interim periods within that fiscal year. Early adoption is permitted. We are evaluating the impact of this standard on our consolidated financial statements and disclosures.

ASU 2025-10, (Topic 832): Accounting for Government Grants Received by Business Entities, provides recognition, measurement, presentation, and disclosure requirements for government grants. This ASU requires that proceeds from government grants be recognized in earnings in the same period as the costs related to the grant and also introduces two permitted approaches for grant proceeds used to purchase capital assets: a deferred income approach or a cost accumulation approach. The ASU will be effective for Phibro’s fiscal year ending June 30, 2030, including interim periods within that fiscal year. The amendments in this ASU may be applied using a modified prospective, modified retrospective, or retrospective approach. Early adoption is permitted. We are evaluating the impact of this standard on our consolidated financial statements and disclosures.

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ASU 2025-11, (Topic 270): Interim Reporting Narrow Scope Improvements, amends the existing guidance and provides clarifications intended to improve the consistency and usability of interim disclosure requirements. The ASU does not change the underlying objectives of interim reporting but are intended to enhance clarity in application. The ASU will be effective for Phibro’s fiscal year ending June 30, 2029, including interim periods within that fiscal year. We are evaluating the impact of this standard on our consolidated financial statements and disclosures. 

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v3.25.4
Acquisition
 6 Months Ended
Dec. 31, 2025
Acquisition  
Acquisition

3. Acquisition

On October 31, 2024, the Company completed its acquisition of the medicated feed additives portfolio, certain water-soluble products and related assets from Zoetis, Inc (the “Acquisition"). The Acquisition was accounted for as a business combination under the acquisition method of accounting. The acquisition method requires, among other things, that assets acquired and liabilities assumed in a business combination be recognized at their fair values as of the acquisition date. The determination of estimated fair value requires management to make significant estimates and assumptions. The results of operations of the Acquisition are included in our consolidated statements of operations from the date of acquisition and reported within the Animal Health segment.

The Acquisition has expanded our medicated feed additives and water-soluble products category, advanced our planned existing product portfolio enhancement and diversified our species and product offerings, which complements our commercial operations and international infrastructure while expanding our global presence.

The purchase price for the Acquisition was approximately $297.5 million ($286.5 million, as adjusted, net of cash acquired), which was funded by Delayed Draw Term A-1 Loans and Delayed Draw Term A-2 Loans drawn on 2024 Credit Facilities (each as defined below in Note 6). The purchase and sale agreement underlying the transaction provides for closing working capital and other adjustments to be completed after the Acquisition. These adjustments were completed in May 2025 and have been finalized.

For the three months ended December 31, 2025 and 2024, we recognized transaction costs related to the Acquisition of $0.2 million and $8.8 million, respectively. For the six months ended December 31, 2025 and 2024, we recognized transaction costs related to the Acquisition of $0.5 million and $12.2 million, respectively. These costs were primarily associated with financial advisory, legal and other professional services related to the Acquisition and are reflected within selling, general and administrative expenses (“SG&A”) in our consolidated statements of operations.

The amount of revenue attributable to the Acquisition included in consolidated statements of operations for the three months ended December 31, 2025 and 2024 was $94.1 million and $36.7 million, respectively. The amount of revenue attributable to the Acquisition included in our consolidated statements of operations for the six months ended December 31, 2025 and 2024 was $174.6 million and $36.7 million, respectively. Based on our current operational structure and the nature and mix of legal entities and assets acquired, we are not able to complete a full cost identification and allocation assessment for activities related to the Acquisition. As a result, we are unable to accurately determine earnings or loss attributable to the Acquisition since the date of acquisition.

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Since the initial measurement of the identified assets acquired and liabilities assumed was performed in the three months ended December 31, 2024, the Acquisition purchase price was adjusted for certain net working capital and other adjustments and progress was made in completing certain of our additional valuations and analyses. As such, we updated (and have now finalized, with no further material adjustments) our initial allocation of the purchase price. Principal changes included: (i) decreasing the value of inventory to reflect final inventory receipts and net working capital adjustments; (ii) increasing the value attributed to property, plant and equipment primarily to reflect updated assumptions related to the estimated economic value of certain underlying assets; (iii) adjustments to other assets and accrued expenses and other liabilities primarily related to value-added taxes; and (iv) goodwill increasing the value attributed to a deferred tax liability (included in other noncurrent liabilities below) emanating from stepped up values for assets acquired in China. The following table summarizes the final allocation of the purchase price to the fair values assigned to the assets acquired and liabilities assumed at the date of the Acquisition that was recorded as of June 30, 2025.

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Final

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  ​ ​ ​

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Purchase Price Allocation

Assets acquired:

​

​

​

Cash and cash equivalents

​

$

11,018

Accounts receivable, net

​

​

350

Inventories, net

​

​

138,981

Property, plant and equipment

​

​

144,964

Other assets(1)

​

​

13,208

Goodwill(2)

​

​

4,948

Total fair value of assets acquired

​

​

313,469

Liabilities assumed:

​

​

​

Accounts payable

​

​

1,411

Accrued expenses and other current liabilities

​

​

4,165

Other noncurrent liabilities

​

​

10,346

Total fair value of liabilities assumed

​

​

15,922

Fair value of net assets acquired

​

$

297,547

 

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(1)Includes current and noncurrent amounts.
(2)Goodwill is reported within the Animal Health segment. An immaterial amount of the goodwill is deductible for tax purposes.

 

 

In the table above, the estimate of fair value of inventories, net was determined using the replacement cost method, which contemplates the costs to complete the manufacturing and sales process, a reasonable profit allowance from the sales process, and estimated holding costs. The cost basis of raw materials was determined to represent current replacement cost and therefore approximates fair value. The net fair value step-up adjustment to inventories of $7.6 million is being amortized to cost of sales as the inventory is sold to customers.

Property, plant and equipment is composed of land, buildings, equipment (including machinery, equipment, furniture and fixtures, and computer equipment), and construction-in-progress. The estimate of fair value of property, plant and equipment was determined by the direct cost and indirect cost approaches, as applicable, depending on the nature of the asset. Of the acquired assets, $102.1 million of personal property (comprised of machinery and equipment) and $38.1 million of real property (comprised of buildings and improvements) were recorded. The amounts allocated to personal and real property were based on management’s estimates and assumptions, as well as other information compiled by management, including third party analysis and market data. The process for determining the direct cost or indirect cost approaches required management to make estimates and assumptions, including reproduction cost new, physical deterioration, utilization, replacement cost new, base cost, and square footage. The step-up adjustment for property, plant and equipment of $43.5 million will be depreciated on a straight-line basis over the remaining useful life of the respective assets, which ranges from 1 year to 21 years.

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Pro Forma Results

The following unaudited pro forma financial information presents the combined results of net sales and operating income of the Company as if the Acquisition had occurred as of the beginning of the years presented and does not include any material non-recurring adjustments. The unaudited pro forma financial information is not necessarily indicative of what the Company’s net sales and operating income actually would have been had the Acquisition occurred at the beginning of each year presented. In addition, the unaudited pro forma financial information does not attempt to project the future results of operations of the combined company. The pro forma information does not include any potential revenue enhancements, cost synergies or other operating efficiencies that could result from the Acquisition.

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Three Months

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Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Net sales

​

$

373,910

​

$

348,944

​

$

737,803

​

$

720,050

Operating income

​

​

50,326

​

​

36,605

​

​

101,586

​

​

86,630

 

 
v3.25.4
Statements of Operations-Additional Information
 6 Months Ended
Dec. 31, 2025
Statements of Operations-Additional Information  
Disaggregated Revenue, Deferred Revenue and Customer Payment Terms

4.  Statements of Operations—Additional Information

Disaggregated revenue, deferred revenue and customer payment terms

We develop, manufacture and market a broad range of products for food and companion animals including poultry, swine, beef and dairy cattle, aquaculture, and dogs. The products help prevent, control and treat diseases and enhance nutrition to help improve animal health and well-being. We sell animal health and mineral nutrition products directly to integrated poultry, cattle and swine customers and through commercial animal feed manufacturers, distributors and veterinarians. The animal health industry and demand for many of the animal health products in a particular region are affected by changing disease pressures and by weather conditions, as product usage follows varying weather patterns and seasons. Our operations are primarily focused on regions where the majority of livestock production is consolidated in large commercial farms.

We have a diversified portfolio of products that are classified within our three reportable business segments—Animal Health, Mineral Nutrition and Performance Products. Each segment has its own dedicated management and sales team.

Animal Health

The Animal Health business develops, manufactures and markets products in three main categories:

●MFAs and other: MFAs and other products primarily consist of concentrated medicated products administered through animal feeds, commonly referred to as Medicated Feed Additives (“MFAs”). Specific product classifications include antibacterials, which inhibit the growth of pathogenic bacteria that cause infections in animals; anticoccidials, which inhibit the growth of coccidia (parasites) that damage the intestinal tract of animals; and other related products. The MFAs and other category also includes antibacterials and other processing aids used in the ethanol fermentation industry.
●Nutritional specialties: Nutritional specialty products enhance nutrition to help improve health and performance in areas such as immune system function and digestive health. We are also a developer, manufacturer and marketer of microbial products and bioproducts for a variety of applications serving animal health and nutrition, environmental, industrial and agricultural customers.
●Vaccines: Vaccine products are primarily focused on preventing diseases in poultry, swine, beef and dairy cattle and aquaculture. They protect animals from either viral or bacterial disease challenges. We develop, manufacture and market conventionally licensed and autogenous vaccine products, as well as adjuvants for animal vaccine manufacturers. We have developed and market an innovative and proprietary delivery platform for vaccines.

Mineral Nutrition

The Mineral Nutrition business is comprised of formulations and concentrations of trace minerals such as zinc, manganese, copper, iron and other compounds, with a focus on customers in North America. Our customers use these products to fortify the daily feed requirements of their livestock’s diets and maintain an optimal balance of trace elements in each animal. We manufacture and market a broad range of mineral nutrition products for food animals including poultry, swine, and beef and dairy cattle.

Performance Products

The Performance Products business manufactures and markets specialty ingredients for use in the personal care, industrial chemical and chemical catalyst industries.

The following tables present our revenues disaggregated by major product category and geographic region:

Net Sales by Product Type

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

​

​

​

​

​

​

​

​

​

Animal Health

 

​

  ​

 

​

  ​

​

​

  ​

 

​

  ​

MFAs and other

​

$

202,111

​

$

150,338

​

$

397,309

​

$

258,182

Nutritional specialties

​

 

50,230

​

 

45,909

​

 

98,381

​

 

88,558

Vaccines

​

 

37,636

​

 

33,171

​

 

77,743

​

 

65,201

Total Animal Health

​

$

289,977

​

$

229,418

​

$

573,433

​

$

411,941

Mineral Nutrition

​

 

68,945

​

 

63,250

​

 

131,933

​

 

122,312

Performance Products

​

 

14,988

​

 

16,593

​

 

32,437

​

 

35,440

Total

​

$

373,910

​

$

309,261

​

$

737,803

​

$

569,693

​

Net Sales by Region

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

United States

​

$

221,757

​

$

184,441

​

$

424,104

​

$

327,990

Latin America and Canada

​

 

87,600

​

 

72,674

​

 

174,826

​

 

143,825

Europe, Middle East and Africa

​

 

44,784

​

 

32,589

​

 

89,726

​

 

63,714

Asia Pacific

​

 

19,769

​

 

19,557

​

 

49,147

​

 

34,164

Total

​

$

373,910

​

$

309,261

​

$

737,803

​

$

569,693

 

​

Net sales by region are based on country of destination.

Our customer payment terms generally range from 30 to 120 days globally and do not include any significant financing components. Payment terms vary based on industry and business practices within the regions in which we operate. Our average worldwide collection period for accounts receivable is approximately 60 days after the revenue is recognized.
Additional Information

Interest Expense, Net

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Interest expense, net

​

​

​

​

​

​

​

​

​

​

​

​

Credit Facilities

​

$

11,844

​

$

9,164

​

$

23,745

​

$

15,364

2022 Term Loan

​

​

—

​

​

—

​

​

—

​

​

12

Amortization of debt issuance costs

​

 

572

​

 

504

​

 

1,144

​

 

871

Refinancing expense

​

​

—

​

​

—

​

​

—

​

​

1,960

Other

​

 

65

​

 

110

​

 

135

​

 

336

Interest expense

​

 

12,481

​

 

9,778

​

 

25,024

​

 

18,543

Interest income

​

 

(725)

​

 

(782)

​

 

(1,209)

​

 

(1,906)

​

​

$

11,756

​

$

8,996

​

$

23,815

​

$

16,637

 

​

For the six months ended December 31, 2024, we also incurred $1,960 in certain costs and charges resulting from the refinancing of the Company’s debt, which included $1,446 of new creditor and third-party financing costs and $514 in debt extinguishment costs resulting from the write-off of unamortized deferred financing costs on previously outstanding debt.

Depreciation and Amortization

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Depreciation and amortization

​

 

​

​

 

  ​

​

 

​

​

 

  ​

Depreciation of property, plant and equipment

​

$

11,178

​

$

9,409

​

$

22,299

​

$

16,151

Amortization of intangible assets

​

 

1,713

​

 

2,165

​

 

3,422

​

 

4,427

​

​

$

12,891

​

$

11,574

​

$

25,721

​

$

20,578

 

 

 
v3.25.4
Balance Sheets-Additional Information
 6 Months Ended
Dec. 31, 2025
Balance Sheets-Additional Information  
Balance Sheets-Additional Information

5.  Balance Sheets—Additional Information

​

​

​

​

​

​

​

​

​

​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Inventories

​

​

​

​

​

  ​

Raw materials

​

$

178,465

​

$

162,626

Work-in-process

​

​

29,228

​

​

27,982

Finished goods

​

​

309,654

​

​

253,817

​

​

$

517,347

​

$

444,425

 

 

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Other assets

​

​

​

​

​

​

ROU operating lease assets

​

$

39,416

 

$

41,339

Deferred income taxes

​

 

19,504

 

​

25,548

Deposits

​

 

584

 

​

610

Insurance investments

​

 

3,976

 

​

6,547

Other investments

​

 

8,693

 

​

5,142

Debt issuance costs

​

 

3,250

 

​

3,714

Derivative instruments

​

​

367

​

​

89

Other

​

​

19,317

​

​

16,501

​

​

$

95,107

 

$

99,490

 

 

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

  ​ ​ ​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Accrued expenses and other current liabilities

 

​

  ​

 

​

  ​

Employee related

​

$

44,106

​

$

51,758

Current operating lease liabilities

​

 

8,959

​

 

9,127

Commissions and rebates

​

​

24,470

​

​

23,274

Professional fees

​

 

7,845

​

 

8,098

Income and other taxes

​

​

10,670

​

​

8,397

Insurance-related

​

 

1,890

​

 

1,655

Insurance premium financing

​

​

1,369

​

​

5,476

Other

​

 

29,127

​

 

31,237

​

​

$

128,436

​

$

139,022

 

 

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

  ​ ​ ​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Other liabilities

​

​

​

​

​

​

Long-term operating lease liabilities

​

$

32,968

​

$

33,740

Long-term and deferred income taxes

​

 

22,049

​

​

19,471

Supplemental retirement benefits, deferred compensation and other

​

​

6,720

​

​

5,526

U.S. pension plan, net

​

 

1,663

​

 

1,795

International retirement plans

​

 

3,752

​

 

3,532

Derivative instruments

​

​

2,590

​

​

3,885

Other long-term liabilities

​

 

10,478

​

 

11,361

​

​

$

80,220

​

$

79,310

 

 

​

​

​

​

​

​

​

​

​

​

December 31, 

  ​ ​ ​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Accumulated other comprehensive loss

​

​

  ​

​

​

  ​

Derivative instruments

​

$

(2,590)

​

$

(2,354)

Foreign currency translation adjustment

​

 

(111,744)

​

 

(113,452)

Unrecognized net pension losses

​

 

(12,236)

​

 

(12,392)

Income tax benefit

​

 

4,200

​

 

4,180

​

​

$

(122,370)

​

$

(124,018)

 

 

 
v3.25.4
Debt
 6 Months Ended
Dec. 31, 2025
Debt  
Debt

​

​

6.  Debt

Term Loans and Revolving Credit Facilities

2024 Credit Agreement

In July 2024, we entered into a Credit Agreement, (the “2024 Credit Agreement”) with a group of lenders. Initial borrowings were used to refinance all our outstanding debt, to pay fees and expenses of the transaction and for ongoing working capital requirements and general corporate purposes. Borrowings under the Delayed Draw Term A-1 Loans (as defined below) and Delayed Draw Term A-2 Loans (as defined below) were drawn on October 31, 2024 and used to finance the purchase price of the Acquisition discussed in “Note 3 — Acquisition.”

The 2024 Credit Agreement provides for: (i) Initial Term A-1 Loans in an initial aggregate principal amount of $162,000 (the “Initial Term A-1 Loans”), (ii) Delayed Draw Term A-1 Loans in an initial aggregate principal amount of $189,000 (the “Delayed Draw Term A-1 Loans” and, together with the Initial Term A-1 Loans, the “Term A-1 Loans”), (iii) Initial Term A-2 Loans in an initial aggregate principal amount of $138,000 (the “Initial Term A-2 Loans”), (iv) Delayed Draw Term A-2 Loans in an initial aggregate principal amount of $161,000 (the “Delayed Draw Term A-2 Loans” and, together with the Initial Term A-2 Loans, the “Term A-2 Loans”), and (v) Revolving Credit Commitments in an initial aggregate principal amount of $310,000 (the “Revolving Credit Commitments” and, together with the Term A-1 Loans and Term A-2 Loans, the “2024 Credit Facilities”). The 2024 Credit Facilities mature in July 2029 in the case of the Term A-1 Loans and the Revolving Credit Commitments and in July 2031 in the case of the Term A-2 Loans.

Borrowings under the 2024 Credit Facilities bear interest at rates based on the ratio of the Company and its subsidiaries’ net consolidated indebtedness to the Company and its subsidiaries’ consolidated EBITDA (the “Net Leverage Ratio”). The interest rates per annum for loans under the 2024 Credit Facilities are based on a fluctuating rate of interest as selected by the Company plus an applicable rate as set forth in the table below:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revolving Credit and
Term A-1 Loans

​

Term A-2 Loans

Net Leverage Ratio

​

Base rate

SOFR

​

Base rate

SOFR

≥ 4.00:1.00

 

1.75

%

2.75

%

  ​

2.25

%

3.25

%

≥ 3.50:1.00 and < 4.00:1.00

​

1.50

%

2.50

%

​

2.00

%

3.00

%

≥ 2.25:1.00 and < 3.50:1.00

​

1.25

%

2.25

%

​

1.75

%

2.75

%

< 2.25:1.00

​

1.00

%

2.00

%

​

1.50

%

2.50

%

 

The Company may receive patronage from the lenders providing the Term A-2 Loans, to the extent eligible under such lender’s patronage program, as determined by such lender in its sole discretion.

Pursuant to the terms of the 2024 Credit Agreement, the 2024 Credit Facilities are subject to various covenants that, among other things and subject to the permitted exceptions described therein, restrict us and our subsidiaries with respect to: (i) incurring additional debt; (ii) making certain restricted payments or making optional redemptions of other indebtedness; (iii) making investments or acquiring assets; (iv) disposing of assets (other than in the ordinary course of business); (v) creating any liens on our assets; (vi) entering into transactions with affiliates; (vii) entering into merger or consolidation transactions; and (viii) creating guarantee obligations; provided, however, that we are permitted to pay distributions to stockholders out of available cash subject to certain annual limitations and a quarterly maximum Net Leverage Ratio of 4.0x and so long as no default or event of default under the 2024 Credit Facilities shall have occurred and be continuing at the time such distribution is declared. Indebtedness under the 2024 Credit Facilities is collateralized by a first priority lien on substantially all assets of Phibro and certain of our domestic subsidiaries. The 2024 Credit Agreement contains an acceleration clause should an Event of Default (as defined therein) occur.

​

The 2024 Credit Agreement requires, among other things, compliance with financial covenants regarding: (i) a maximum Net Leverage Ratio and (ii) a minimum interest coverage ratio, each calculated on a trailing four-quarter basis, as follows:

​

​

​

​

​

Period

maximum
Net Leverage Ratio

​

minimum
interest coverage ratio

Prior to October 31, 2024

4.00:1.00

​

3.00:1.00

First fiscal quarter ended after October 31, 2024 through January 3, 2026

4.75:1.00

​

2.50:1.00

After January 3, 2026 to January 3, 2027

4.50:1.00

​

2.75:1.00

After January 3, 2027 to January 3, 2028

4.25:1.00

​

3.00:1.00

After January 3, 2028

4.00:1.00

​

3.00:1.00

 

As of December 31, 2025, we were in compliance with the financial covenants of the 2024 Credit Agreement.

For the six months ended December 31, 2024, we paid $10,377 in lender and other fees related to the 2024 Credit Facilities, which are being amortized to interest expense through the maturity dates of the 2024 Credit Facilities. The payment of these debt issuance costs is reflected within the financing activities section of the consolidated statements of cash flows.

​

As of December 31, 2025, we had $107,000 in borrowings drawn under the 2024 Revolver and had outstanding letters of credit of $2,853, leaving $200,147 available for further borrowings and letters of credit under the 2024 Revolver, subject to restrictions in our 2024 Credit Facilities. We obtain letters of credit in connection with certain regulatory and insurance obligations, inventory purchases and other contractual obligations. The terms of these letters of credit are all less than one year.
​

Debt Balances and Interest Rate Information

Long-Term Debt Balances

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

June 30, 

As of

​

2025

​

2025

Term A-1 Loans due July 2029

​

$

340,200

​

$

344,588

Term A-2 Loans due July 2031

​

​

289,800

​

​

293,537

Gross term loan balances

​

 

630,000

​

 

638,125

Unamortized debt issuance costs

​

 

(5,760)

​

 

(6,440)

Term loan balances, net of unamortized debt issuance costs

​

 

624,240

​

 

631,685

Less: current maturities of long-term debt

​

 

(20,638)

​

 

(16,250)

Long-term debt

​

$

603,602

​

$

615,435

 

​

Interest Rates

Interest rates as of the balance sheet dates and the weighted-average rates for the periods presented were:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

​

​

​

Six Months

​

​

December 31, 

June 30, 

​

Ended December 31, 

​

​

2025

2025

​

2025

​

2024

​

Revolving Credit Facility

 

5.89

%

5.89

%

  ​

5.89

%

6.62

%

Initial Term A-1 Loan due July 2029

​

5.45

%

5.45

%

​

5.45

%

2.94

%

Initial Term A-2 Loan due July 2031

​

6.39

%

6.39

%

​

6.39

%

3.44

%

Delayed Draw Term A-1 Loan due July 2029

​

6.08

%

6.50

%

​

6.32

%

6.96

%

Delayed Draw Term A-2 Loan due July 2031

​

6.62

%

7.20

%

​

6.95

%

7.31

%

 Interest rates as of the balance sheet dates are based on rates in effect as of those dates, including SOFR fluctuating rates of interest, applicable rates and the interest rate swap agreements.

In September 2024, we entered into an interest rate swap agreement on $150,000 of notional principal that effectively converts the floating SOFR portion of our interest obligation on that amount of debt issued under the 2024 Credit Facilities to a fixed rate of 3.18% through September 2029.

In March 2025, we entered into an interest rate swap agreement on $275,000 of notional principal that effectively converts the floating SOFR portion of our interest obligation on that amount of debt issued under the 2024 Credit Facilities to a fixed rate of 3.64% through February 2030.

In March 2025, we entered into a forward-starting interest rate collar agreement on $250,000 of notional principal that effectively puts a floor of 1.99% and a cap of 4.75% on the floating SOFR portion of our interest obligation on that amount of debt issued under the 2024 Credit Facilities. The individual option contracts of the collar mature monthly beginning July 2025 and through June 2026.

In addition, we were party to an interest rate swap of agreement on $300,000 of notional principal that effectively converted the floating SOFR portion of our interest obligation on that amount of debt to a fixed rate of 0.51% through June 2025 as a hedge against our existing variable rate debt issued under the 2024 Credit Facilities. This swap agreement expired on June 30, 2025.

​

We designated the interest rate swaps and interest rate collar as highly effective cash flow hedges. For additional details, see “Note 10 — Derivatives.”

 

 

 
v3.25.4
Related Party Transactions
 6 Months Ended
Dec. 31, 2025
Related Party Transactions  
Related Party Transactions

7.  Related Party Transactions

Certain relatives of Jack C. Bendheim, our Chairman, President and Chief Executive Officer, provided services to the Company as employees or consultants and received aggregate compensation and benefits of approximately $442 and $507 during the three months ended December 31, 2025 and 2024, and $1,640 and $1,288 during the six months ended December 31, 2025 and 2024, respectively. Mr. Bendheim has sole authority to vote shares of our stock owned by BFI Co., LLC, an investment vehicle of the Bendheim family.
v3.25.4
Stock Incentive Plan
 6 Months Ended
Dec. 31, 2025
Stock Incentive Plan  
Stock Incentive Plan

8. Stock Incentive Plan

Restricted Stock Units

On August 1, 2025, the Company, granted 113,847 time-based RSUs with a grant date fair value of $25.19 to certain senior-level employees pursuant to the Company’s Incentive Plan. Each RSU represents the right to receive a share of our common stock upon vesting. These RSUs vest in three equal annual amounts on each anniversary of August 1, 2025, subject to continued employment through the applicable vesting date.

In fiscal 2024, our Board of Directors approved grants of 600,000 RSUs to certain officers of the Company, pursuant to the Company’s Incentive Plan and the RSU award agreements. Certain of these RSUs are subject to time-based vesting and certain RSUs are subject to performance-based vesting contingent upon the achievement of certain stock price targets.

The fair value of time-based RSUs is equal to the closing market price of the underlying common stock on the grant date, less the present value of expected dividends over the vesting period. A Monte Carlo simulation model was used to determine the grant date fair value of the performance-based RSUs. We recognize stock-based compensation expense for the RSUs on a straight-line basis over the vesting periods.

Stock-based compensation expense related to the RSUs was $434 and $180 for the three months ended December 31, 2025 and 2024 and $773 and $359 for the six months ended December 31, 2025 and 2024, respectively. As of December 31, 2025, there was $4,110 of unrecognized compensation expense related to the RSUs, which will be recognized over a weighted average period of 2.8 years. As of December 31, 2025, 682,162 RSUs with a weighted average grant date fair value of $8.48 remain unvested.

v3.25.4
Commitments and Contingencies
 6 Months Ended
Dec. 31, 2025
Commitments and Contingencies  
Commitments and Contingencies

9.  Commitments and Contingencies

Environmental

Our operations and properties are subject to extensive federal, state, local and foreign laws and regulations, including those governing pollution; protection of the environment; the use, management, and release of hazardous materials, substances and wastes; air emissions; greenhouse gas emissions; water use, supply and discharges; the investigation and remediation of contamination; the manufacture, distribution, and sale of regulated materials, including pesticides; the importing, exporting and transportation of products; and the health and safety of our employees (collectively, “Environmental Laws”). As such, the nature of our current and former operations exposes us to the risk of claims with respect to such matters, including fines, penalties, and remediation obligations that may be imposed by regulatory authorities. Under certain circumstances, we might be required to curtail operations until a particular problem is remedied. Known costs and expenses under Environmental Laws incidental to ongoing operations, including the cost of litigation proceedings relating to environmental matters, are included within operating results. Potential costs and expenses may also be incurred in connection with the repair or upgrade of facilities to meet existing or new requirements under Environmental Laws or to investigate or remediate potential or actual contamination, and from time to time we establish reserves for such contemplated investigation and remediation costs. In many instances, the ultimate costs under Environmental Laws and the period during which such costs are likely to be incurred are difficult to predict.

While we believe that our operations are currently in material compliance with Environmental Laws, we have, from time to time, received notices of violation from governmental authorities, and have been involved in civil or criminal action for such violations. Additionally, at various sites, our subsidiaries are engaged in continuing investigation, remediation and/or monitoring efforts to address contamination associated with historic operations of the sites. We devote considerable resources to complying with Environmental Laws and managing environmental liabilities. We have developed programs to identify requirements under, and maintain compliance with Environmental Laws; however, we cannot predict with certainty the effect of increased and more stringent regulation on our operations, future capital expenditure requirements, or the cost of compliance.

The nature of our current and former operations exposes us to the risk of claims with respect to environmental matters and we cannot assure we will not incur material costs and liabilities in connection with such claims. Based on our experience, we believe that the future cost of compliance with existing Environmental Laws, and liabilities for known environmental claims pursuant to such Environmental Laws, will not have a material adverse effect on our financial position, results of operations, cash flows or liquidity.

Based upon information available, to the extent such costs can be estimated with reasonable certainty, we estimated the cost for further investigation and remediation of identified soil and groundwater problems at operating sites, closed sites and third-party sites, and closure costs for closed sites to be approximately $4,229 and $4,292 at December 31, 2025 and June 30, 2025, respectively, which is included in current and long-term liabilities on the consolidated balance sheets. However, future events, such as new information, changes in existing Environmental Laws or their interpretation, and more vigorous enforcement policies of regulatory agencies, may give rise to additional expenditures or liabilities that could be material. For all purposes of the discussion under this caption and elsewhere in this report, it should be noted that we take and have taken the position that neither PAHC nor any of our subsidiaries are liable for environmental or other claims made against one or more of our other subsidiaries or for which any of such other subsidiaries may ultimately be responsible.

Claims and Litigation

PAHC and its subsidiaries are party to various claims and lawsuits arising out of the normal course of business including product liabilities, payment disputes and governmental regulation. Certain of these actions seek damages in various amounts. In many cases, such claims are covered by insurance. We believe that none of the claims or pending lawsuits, either individually or in the aggregate, will have a material adverse effect on our financial position, results of operations, cash flows or liquidity.
v3.25.4
Derivatives
 6 Months Ended
Dec. 31, 2025
Derivatives  
Derivatives

10.  Derivatives

We monitor our exposure to foreign currency exchange rates and interest rates and from time-to-time use derivatives to manage certain of these risks. We designate derivatives as a hedge of a forecasted transaction or of the variability of the cash flows to be received or paid in the future related to a recognized asset or liability (cash flow hedge). All changes in the fair value of a highly effective cash flow hedge are recorded in accumulated other comprehensive income (loss).

We routinely assess whether the derivatives used to hedge transactions are effective. If we determine that a derivative ceases to be an effective hedge, we discontinue hedge accounting in the period of the assessment for that derivative and immediately recognize any unrealized gains or losses related to the fair value of that derivative in the consolidated statements of operations.

We record derivatives at fair value in the consolidated balance sheets. For additional details regarding fair value, see “Note 11 — Fair Value Measurements.”

In September 2024, we entered into an interest rate swap agreement on $150,000 of notional principal that effectively converts the floating SOFR portion of our interest obligation on that amount of debt issued under the 2024 Credit Facilities to a fixed rate of 3.18% through September 2029.

In March 2025, we entered into an interest rate swap agreement on $275,000 of notional principal that effectively converts the floating SOFR portion of our interest obligation on that amount of debt issued under the 2024 Credit Facilities to a fixed rate of 3.64% through February 2030.

In March 2025, we entered into a forward-starting interest rate collar agreement on $250,000 of notional principal that effectively puts a floor of 1.99% and a cap of 4.75% on the floating SOFR portion of our interest obligation on that amount of debt issued under the 2024 Credit Facilities. The individual option contracts of the collar mature monthly beginning July 2025 and through June 2026. As of December 31, 2025, the fair value of the interest rate collar was de minimis.

We were a party to an interest rate swap agreement on $300,000 of notional principal that effectively converted the floating SOFR portion of our interest obligation to a fixed rate of 0.51% through June 2025. This agreement expired on June 30, 2025.

We have designated the interest rate swaps and interest rate collar as highly effective cash flow hedges.

We are a party to foreign currency option contracts used to hedge cash flows related to monthly inventory purchases. The individual option contracts mature monthly through June 2026. The forecasted inventory purchases were probable of occurring and the individual option contracts were designated as highly effective cash flow hedges.

The consolidated balance sheet includes the net fair values of our outstanding foreign currency option contracts within the respective line items, based on the net financial position and maturity date of the individual contracts. The consolidated balance sheet includes the net fair values of our outstanding interest rate swaps within the respective balance sheet line items, based on the expected timing of the cash flows. The consolidated balance sheet includes assets and liabilities for the fair values of outstanding derivatives that are designated and effective as cash flow hedges as follows:

​

​

​

​

​

​

​

​

​

​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Other current assets

 

​

  ​

 

​

  ​

Interest rate swaps

​

$

313

​

$

1,442

Other assets

​

​

​

​

​

​

Interest rate swaps

​

​

367

​

​

89

Accrued expense and other current liabilities

​

 

​

​

 

​

Foreign currency option contracts, net

​

 

(11)

​

 

—

Interest rate swap

​

 

(669)

​

 

—

Other liabilities

​

​

​

​

​

​

Interest rate swaps

​

​

(2,590)

​

​

(3,885)

Total Fair Value

​

 

​

​

 

​

Foreign currency option contracts, net

​

$

(11)

​

$

—

Interest rate swaps

​

$

(2,579)

​

$

(2,354)

​

Notional amounts of the derivatives as of the balance sheet date were:

​

​

​

​

​

​

​

December 31, 

As of

  ​ ​ ​

2025

Interest rate swaps

​

$

425,000

Interest rate collar

​

$

250,000

Brazil Real-USD call options

​

R$

18,000

Brazil Real-USD put options

​

R$

(18,000)

 

​

The consolidated statements of operations and statements of comprehensive income for the periods ended December 31, 2025 and 2024 included the effects of derivatives as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months

 

Six Months

​

For the Periods Ended December 31

​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

​

Foreign currency option contracts, net

 

​

  ​

 

​

  ​

​

​

  ​

 

​

  ​

​

Income recorded in consolidated statements of operations

​

$

—

​

$

(397)

​

$

(20)

​

$

(907)

​

Consolidated statement of operations - total cost of goods sold

​

$

241,254

​

$

207,391

​

$

485,364

​

$

384,328

​

Consolidated statement of operations - total selling, general and administrative expenses

​

$

82,330

​

$

76,337

​

$

150,853

​

$

142,133

​

Expense recorded in comprehensive income

​

$

5

​

$

257

​

$

11

​

$

120

​

Interest rate swaps

​

 

​

​

 

​

​

 

​

​

 

​

​

Income recorded in consolidated statements of operations

​

$

(579)

​

$

(3,790)

​

$

(1,517)

​

$

(7,690)

​

Consolidated statement of operations - total interest expense, net

​

$

11,756

​

$

8,996

​

$

23,815

​

$

16,637

​

(Income) expense recorded in comprehensive income

​

$

(575)

​

$

(2,445)

​

$

224

​

$

2,540

​

 

​

We recognize gains and losses related to foreign currency derivatives as a component of cost of goods sold at the time the hedged item is sold.

v3.25.4
Fair Value Measurements
 6 Months Ended
Dec. 31, 2025
Fair Value Measurements  
Fair Value Measurements

11.  Fair Value Measurements

Cash Equivalents

Our cash equivalents consist of time deposits with an original maturity of less than three months held at financial institutions. We consider the carrying amounts of these current assets to be recorded at their fair value because of the current nature of these items.

Short-term Investments

Our short-term investments consist of cash deposits with original maturity of greater than three months, but no greater than twelve months, held at financial institutions. We consider the carrying amounts of these current assets to be recorded at their fair value because of the current nature of these items.

Current Assets and Liabilities

We consider the carrying amounts of current assets and current liabilities to be representative of their fair value because of the current nature of these items.

Debt

We record debt, including term loans and revolver balances, at amortized cost in our consolidated financial statements. We believe the carrying value of the debt is approximately equal to its fair value, due to the variable nature of the instruments and our evaluation of estimated market prices.

Derivatives

We determine the fair value of derivative instruments based upon pricing models using observable market inputs for these types of financial instruments, such as spot and forward currency translation rates.

Non-financial Assets

Our non-financial assets, which primarily consist of goodwill, other intangible assets, property and equipment, and lease-related right-of-use (“ROU”) assets, are not required to be measured at fair value on a recurring basis, and instead are reported at carrying value in the consolidated balance sheet. Assets and liabilities may be required to be measured at fair value on a non-recurring basis, either upon initial recognition or for subsequent accounting or reporting, including the initial recognition of net assets acquired in a business combination. These fair value measurements involve unobservable inputs that reflect estimates and assumptions that represent Level 3 inputs.

Fair Value of Assets (Liabilities)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of

​

December 31, 2025

​

June 30, 2025

​

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Cash equivalents

​

$

2,000

​

$

—

​

$

—

​

$

12,000

​

$

—

​

$

—

Short-term investments

​

$

19,022

​

$

—

​

$

—

​

$

9,000

​

$

—

​

$

—

Foreign currency derivatives

​

$

—

​

$

(11)

​

$

—

​

$

—

​

$

—

​

$

—

Interest rate swaps

​

$

—

​

$

(2,579)

​

$

—

​

$

—

​

$

(2,354)

​

$

—

 

​

There were no transfers between levels during the periods presented.
v3.25.4
Business Segments
 6 Months Ended
Dec. 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 reporting segments. The Chief Executive Officer is the chief operating decision-maker (“CODM”) for the Company. We evaluate performance of our segments based on Adjusted EBITDA. Included in the segment Adjusted EBITDA analyses provided to the CODM is information on segment cost of sales and selling, general and administrative expenses. There are no other significant segment expense categories regularly provided to the CODM.

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 non-operating 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. However, some of these items may not be applicable to the calculation of Adjusted EBITDA for our segments, as we do not typically include interest, other non-operating items, or income tax-related items in our segment results.

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 in Note 2 — Summary of Significant Accounting Policies and New Accounting Standards included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025.

For all segments, the CODM uses segment Adjusted EBITDA in the annual budgeting and quarterly forecasting process and considers budget-to-actual and current period to prior period variances to evaluate performance and allocate resources for each segment.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months

  ​ ​ ​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Animal Health

​

$

289,977

​

$

229,418

​

$

573,433

​

$

411,941

Mineral Nutrition

​

 

68,945

​

 

63,250

​

 

131,933

​

 

122,312

Performance Products

​

 

14,988

​

 

16,593

​

 

32,437

​

 

35,440

Total segments

​

$

373,910

​

$

309,261

​

$

737,803

​

$

569,693

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

​

2024

​

2025

​

2024

Animal Health

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

 

$

289,977

 

$

229,418

 

$

573,433

​

$

411,941

Cost of sales

​

​

168,031

​

​

138,086

​

​

340,903

​

​

246,318

Selling, general and administrative expenses(1)

​

​

52,199

​

​

43,817

​

​

99,450

​

​

85,387

Add: Depreciation and amortization

​

​

11,583

​

​

10,286

​

​

23,182

​

​

17,949

Add: Acquisition-related cost of goods sold(2)

​

​

839

​

​

1,634

​

​

1,956

​

​

1,634

Subtract: Insurance proceeds(4)

​

​

—

​

​

(1,258)

​

​

(1,177)

​

​

(1,258)

Adjusted EBITDA

​

​

82,169

​

​

58,177

​

​

157,041

​

​

98,561

​

​

​

​

​

​

​

​

​

​

​

​

​

Mineral Nutrition

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

 

​

68,945

 

​

63,250

 

​

131,933

​

​

122,312

Cost of sales

​

​

61,215

​

​

56,355

​

​

118,499

​

​

110,242

Selling, general and administrative expenses(1)

​

​

1,904

​

​

1,708

​

​

3,619

​

​

3,637

Add: Depreciation and amortization

​

​

541

​

​

515

​

​

1,075

​

​

1,031

Adjusted EBITDA

​

​

6,367

​

​

5,702

​

​

10,890

​

​

9,464

​

​

​

​

​

​

​

​

​

​

​

​

​

Performance Products

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

 

​

14,988

 

​

16,593

 

​

32,437

​

​

35,440

Cost of sales

​

​

12,010

​

​

12,950

​

​

25,964

​

​

27,768

Selling, general and administrative expenses(1)

​

​

2,388

​

​

2,047

​

​

4,506

​

​

4,120

Add: Depreciation and amortization

​

​

241

​

​

292

​

​

467

​

​

625

Adjusted EBITDA

​

​

831

​

​

1,888

​

​

2,434

​

​

4,177

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted EBITDA – Total segments

​

$

89,367

​

$

65,767

​

$

170,365

​

$

112,202

Reconciliation of Adjusted EBITDA to income before income taxes:

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

11,756

​

​

8,996

​

 

23,815

​

 

16,637

Depreciation and amortization – Total segments

​

​

12,365

​

​

11,093

​

 

24,724

​

 

19,605

Depreciation and amortization – Corporate

​

​

526

​

​

481

​

 

997

​

 

973

Corporate costs

​

​

21,303

​

​

17,592

​

​

40,443

​

​

33,371

Acquisition-related cost of goods sold(2)

​

​

839

​

​

1,634

​

 

1,956

​

 

1,634

Acquisition-related transaction costs

​

​

193

​

​

8,815

​

 

451

​

 

12,239

Stock-based compensation expense - named executive officer awards granted in fiscal year 2024

​

​

180

​

​

180

​

 

359

​

 

359

Phibro Forward income growth initiatives implementation costs - SG&A(3)

​

​

3,635

​

​

1,696

​

​

3,635

​

​

2,046

Insurance proceeds(4)

​

​

—

​

​

(1,257)

​

​

(3,786)

​

​

(1,257)

Foreign currency losses, net

​

​

2,145

​

​

11,699

​

 

5,079

​

 

12,137

Income before income taxes

​

$

36,425

​

$

4,838

​

$

72,692

​

$

14,458

​

(1)Selling, general, and administrative expenses primarily include compensation-related expenses for employees not directly involved in the production and sale of inventory, rent expenses, research and development costs, marketing expenses, and other general and administrative expenses.
(2)Represents cost of goods sold related to the stepped-up value of inventory obtained in acquisitions.
(3)Phibro Forward is a company-wide initiative focused on unlocking additional areas of revenue growth and cost savings.
(4)Represents insurance settlement gains, which are recorded within selling, general and administrative expenses.

 

 

The geographic location of property, plant and equipment, net and ROU operating lease assets was:

​

​

​

​

​

​

​

​

​

​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Property, plant and equipment, net and ROU operating lease assets

 

​

  ​

 

​

  ​

United States

​

$

236,887

​

$

239,874

Israel

​

 

73,248

​

 

74,403

Brazil

​

 

35,244

​

 

34,504

Ireland

​

​

27,432

​

​

25,141

Other

​

 

21,986

​

 

22,107

​

​

$

394,797

​

$

396,029

 

 

Asset information is not provided for reportable segments in the information regularly provided to the CODM. Accordingly, such information is not disclosed in this footnote.
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Pay vs Performance Disclosure        
Net Income (Loss) $ 27,459 $ 3,185 $ 53,986 $ 10,160
v3.25.4
Insider Trading Arrangements - Jack C. Bendheim
 3 Months Ended
Dec. 31, 2025
shares
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement

Item 5. Other Information

On December 11, 2025, BFI Co., LLC (“BFI”) adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act for the sale of up to 528,000 shares of Class A common stock through September 15, 2026. Jack C. Bendheim, our Chairman of the Board of Directors, President and Chief Executive Officer, has sole authority to vote shares of our stock owned by BFI.
Name Jack C. Bendheim
Title Chairman of the Board of Directors, President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date December 11, 2025
Expiration Date September 15, 2026
Aggregate Available 528,000
v3.25.4
Summary of Significant Accounting Policies and New Accounting Standards (Policies)
 6 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies and New Accounting Standards  
Net Income per Share and Weighted Average Shares

Net Income per Share and Weighted Average Shares

Basic net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period.

​

Diluted net income per share is calculated by dividing net income by the weighted average number of common shares outstanding during the reporting period after giving effect to dilutive common share equivalents resulting from the assumed vesting of restricted stock units (“RSUs”), unless the effect would be antidilutive or if the minimum stock price targets for our performance-based RSUs were not achieved during the reporting period. Common share equivalents related to time- and performance-based RSUs were included in the calculation of diluted net income per share for the three and six months ended December 31, 2025 and 2024.
​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

​

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

Net income

​

$

27,459

​

$

3,185

​

$

53,986

​

$

10,160

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted average number of shares – basic

​

 

40,534

​

 

40,504

​

 

40,534

​

 

40,504

​

Dilutive effect of restricted stock units

​

​

422

​

​

211

​

​

382

​

​

145

​

Weighted average number of shares - diluted

​

​

40,956

​

​

40,715

​

​

40,916

​

​

40,649

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income per share

​

​

​

​

​

​

​

​

​

​

​

​

​

basic

​

$

0.68

​

$

0.08

​

$

1.33

​

$

0.25

​

diluted

​

$

0.67

​

$

0.08

​

$

1.32

​

$

0.25

​

 

 
New Accounting Standards

New Accounting Standards

Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, enhances income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The ASU outlines specific categories to be provided in the rate reconciliation and requires additional information for those reconciling items that meet a quantitative threshold. The ASU requires disaggregated disclosure of federal, state and foreign income taxes paid, including disaggregation by individual jurisdictions in which income taxes paid (net of refunds received) is equal to or greater than five percent of total income taxes paid (net of refunds received). The ASU also requires disaggregated disclosure of federal, state and foreign income (loss) from continuing operations before income taxes. The enhanced disclosures will be applied on a prospective basis and are required for Phibro’s fiscal year ending June 30, 2026. We are evaluating the impact of the additional income tax-related disclosures.

ASU 2024-03, (Subtopic 220-40): Disaggregation of Income Statement Expenses and ASU 2025-01, Clarifying the Effective Date, requires disclosure, in the notes to the financial statements, of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, and intangible asset amortization included in each relevant expense caption, as well as a qualitative description of amounts remaining in relevant expense captions that are not separately disaggregated quantitatively. ASU 2024-03 also requires disclosure of the total amount of selling expenses and, in annual periods, an entity’s definition of selling expenses. The ASU will be effective for Phibro’s fiscal year ending June 30, 2028 and for interim periods thereafter, and it can be applied on a prospective basis or on a retrospective basis to all periods presented. Early adoption is permitted. We are evaluating the impact of this standard on our footnote disclosures.

ASU 2025-06, (Subtopic 350-40): Intangibles - Goodwill and Other - Internal-Use Software: Targeted Improvements to the Accounting for Internal-Use Software, amends existing guidance regarding when entities may begin to capitalize internal-use software costs. Under the updated framework, entities must assess when both of the following occur: (1) management has authorized and committed to funding the software project and (2) it is probable that the project will be completed and the software will be used to perform the function intended. The ASU will be effective for Phibro’s fiscal year ending June 30, 2029, including interim periods within that year, and it can be applied on a prospective basis, on a retrospective basis to all periods presented, or with a modified transition approach. Early adoption is permitted. We are evaluating the impact of this standard on our consolidated financial statements and disclosures.

ASU 2025-09, (Topic 815): Hedge Accounting Improvements, amends existing guidance and provides improvements to hedge accounting, including expanded eligibility of forecasted transactions, increased flexibility in measuring hedge effectiveness, and clarifications related to hedging non-financial items. The ASU will be effective for Phibro’s fiscal year ending June 30, 2028, including interim periods within that fiscal year. Early adoption is permitted. We are evaluating the impact of this standard on our consolidated financial statements and disclosures.

ASU 2025-10, (Topic 832): Accounting for Government Grants Received by Business Entities, provides recognition, measurement, presentation, and disclosure requirements for government grants. This ASU requires that proceeds from government grants be recognized in earnings in the same period as the costs related to the grant and also introduces two permitted approaches for grant proceeds used to purchase capital assets: a deferred income approach or a cost accumulation approach. The ASU will be effective for Phibro’s fiscal year ending June 30, 2030, including interim periods within that fiscal year. The amendments in this ASU may be applied using a modified prospective, modified retrospective, or retrospective approach. Early adoption is permitted. We are evaluating the impact of this standard on our consolidated financial statements and disclosures.

​

ASU 2025-11, (Topic 270): Interim Reporting Narrow Scope Improvements, amends the existing guidance and provides clarifications intended to improve the consistency and usability of interim disclosure requirements. The ASU does not change the underlying objectives of interim reporting but are intended to enhance clarity in application. The ASU will be effective for Phibro’s fiscal year ending June 30, 2029, including interim periods within that fiscal year. We are evaluating the impact of this standard on our consolidated financial statements and disclosures. 
v3.25.4
Summary of Significant Accounting Policies and New Accounting Standards (Tables)
 6 Months Ended
Dec. 31, 2025
Summary of Significant Accounting Policies and New Accounting Standards  
Schedule of net income per share and weighted average shares

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

​

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

Net income

​

$

27,459

​

$

3,185

​

$

53,986

​

$

10,160

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Weighted average number of shares – basic

​

 

40,534

​

 

40,504

​

 

40,534

​

 

40,504

​

Dilutive effect of restricted stock units

​

​

422

​

​

211

​

​

382

​

​

145

​

Weighted average number of shares - diluted

​

​

40,956

​

​

40,715

​

​

40,916

​

​

40,649

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net income per share

​

​

​

​

​

​

​

​

​

​

​

​

​

basic

​

$

0.68

​

$

0.08

​

$

1.33

​

$

0.25

​

diluted

​

$

0.67

​

$

0.08

​

$

1.32

​

$

0.25

​

 
v3.25.4
Acquisition (Tables)
 6 Months Ended
Dec. 31, 2025
Acquisition  
Summary of preliminary allocation of purchase price to fair values assigned to assets acquired and liabilities assumed

​

​

​

​

​

​

​

​

Final

​

  ​ ​ ​

​

Purchase Price Allocation

Assets acquired:

​

​

​

Cash and cash equivalents

​

$

11,018

Accounts receivable, net

​

​

350

Inventories, net

​

​

138,981

Property, plant and equipment

​

​

144,964

Other assets(1)

​

​

13,208

Goodwill(2)

​

​

4,948

Total fair value of assets acquired

​

​

313,469

Liabilities assumed:

​

​

​

Accounts payable

​

​

1,411

Accrued expenses and other current liabilities

​

​

4,165

Other noncurrent liabilities

​

​

10,346

Total fair value of liabilities assumed

​

​

15,922

Fair value of net assets acquired

​

$

297,547

 

​

(1)Includes current and noncurrent amounts.
(2)Goodwill is reported within the Animal Health segment. An immaterial amount of the goodwill is deductible for tax purposes.

 
Schedule of pro forma results

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Net sales

​

$

373,910

​

$

348,944

​

$

737,803

​

$

720,050

Operating income

​

​

50,326

​

​

36,605

​

​

101,586

​

​

86,630

 
v3.25.4
Statements of Operations-Additional Information (Tables)
 6 Months Ended
Dec. 31, 2025
Statements of Operations-Additional Information  
Schedule of revenues disaggregated by major product category and geographic region

Net Sales by Product Type

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

​

​

​

​

​

​

​

​

​

Animal Health

 

​

  ​

 

​

  ​

​

​

  ​

 

​

  ​

MFAs and other

​

$

202,111

​

$

150,338

​

$

397,309

​

$

258,182

Nutritional specialties

​

 

50,230

​

 

45,909

​

 

98,381

​

 

88,558

Vaccines

​

 

37,636

​

 

33,171

​

 

77,743

​

 

65,201

Total Animal Health

​

$

289,977

​

$

229,418

​

$

573,433

​

$

411,941

Mineral Nutrition

​

 

68,945

​

 

63,250

​

 

131,933

​

 

122,312

Performance Products

​

 

14,988

​

 

16,593

​

 

32,437

​

 

35,440

Total

​

$

373,910

​

$

309,261

​

$

737,803

​

$

569,693

​

Net Sales by Region

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

United States

​

$

221,757

​

$

184,441

​

$

424,104

​

$

327,990

Latin America and Canada

​

 

87,600

​

 

72,674

​

 

174,826

​

 

143,825

Europe, Middle East and Africa

​

 

44,784

​

 

32,589

​

 

89,726

​

 

63,714

Asia Pacific

​

 

19,769

​

 

19,557

​

 

49,147

​

 

34,164

Total

​

$

373,910

​

$

309,261

​

$

737,803

​

$

569,693

 
Schedule of interest expense, net

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Interest expense, net

​

​

​

​

​

​

​

​

​

​

​

​

Credit Facilities

​

$

11,844

​

$

9,164

​

$

23,745

​

$

15,364

2022 Term Loan

​

​

—

​

​

—

​

​

—

​

​

12

Amortization of debt issuance costs

​

 

572

​

 

504

​

 

1,144

​

 

871

Refinancing expense

​

​

—

​

​

—

​

​

—

​

​

1,960

Other

​

 

65

​

 

110

​

 

135

​

 

336

Interest expense

​

 

12,481

​

 

9,778

​

 

25,024

​

 

18,543

Interest income

​

 

(725)

​

 

(782)

​

 

(1,209)

​

 

(1,906)

​

​

$

11,756

​

$

8,996

​

$

23,815

​

$

16,637

 
Schedule of depreciation and amortization

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Depreciation and amortization

​

 

​

​

 

  ​

​

 

​

​

 

  ​

Depreciation of property, plant and equipment

​

$

11,178

​

$

9,409

​

$

22,299

​

$

16,151

Amortization of intangible assets

​

 

1,713

​

 

2,165

​

 

3,422

​

 

4,427

​

​

$

12,891

​

$

11,574

​

$

25,721

​

$

20,578

 
v3.25.4
Balance Sheets-Additional Information (Tables)
 6 Months Ended
Dec. 31, 2025
Balance Sheets-Additional Information  
Schedule of inventories

​

​

​

​

​

​

​

​

​

​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Inventories

​

​

​

​

​

  ​

Raw materials

​

$

178,465

​

$

162,626

Work-in-process

​

​

29,228

​

​

27,982

Finished goods

​

​

309,654

​

​

253,817

​

​

$

517,347

​

$

444,425

 
Schedule of other assets

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Other assets

​

​

​

​

​

​

ROU operating lease assets

​

$

39,416

 

$

41,339

Deferred income taxes

​

 

19,504

 

​

25,548

Deposits

​

 

584

 

​

610

Insurance investments

​

 

3,976

 

​

6,547

Other investments

​

 

8,693

 

​

5,142

Debt issuance costs

​

 

3,250

 

​

3,714

Derivative instruments

​

​

367

​

​

89

Other

​

​

19,317

​

​

16,501

​

​

$

95,107

 

$

99,490

 

 
Schedule of accrued expenses and other current liabilities

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

  ​ ​ ​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Accrued expenses and other current liabilities

 

​

  ​

 

​

  ​

Employee related

​

$

44,106

​

$

51,758

Current operating lease liabilities

​

 

8,959

​

 

9,127

Commissions and rebates

​

​

24,470

​

​

23,274

Professional fees

​

 

7,845

​

 

8,098

Income and other taxes

​

​

10,670

​

​

8,397

Insurance-related

​

 

1,890

​

 

1,655

Insurance premium financing

​

​

1,369

​

​

5,476

Other

​

 

29,127

​

 

31,237

​

​

$

128,436

​

$

139,022

 
Schedule of other liabilities

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

  ​ ​ ​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Other liabilities

​

​

​

​

​

​

Long-term operating lease liabilities

​

$

32,968

​

$

33,740

Long-term and deferred income taxes

​

 

22,049

​

​

19,471

Supplemental retirement benefits, deferred compensation and other

​

​

6,720

​

​

5,526

U.S. pension plan, net

​

 

1,663

​

 

1,795

International retirement plans

​

 

3,752

​

 

3,532

Derivative instruments

​

​

2,590

​

​

3,885

Other long-term liabilities

​

 

10,478

​

 

11,361

​

​

$

80,220

​

$

79,310

 
Schedule of accumulated other comprehensive loss

​

​

​

​

​

​

​

​

​

​

December 31, 

  ​ ​ ​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Accumulated other comprehensive loss

​

​

  ​

​

​

  ​

Derivative instruments

​

$

(2,590)

​

$

(2,354)

Foreign currency translation adjustment

​

 

(111,744)

​

 

(113,452)

Unrecognized net pension losses

​

 

(12,236)

​

 

(12,392)

Income tax benefit

​

 

4,200

​

 

4,180

​

​

$

(122,370)

​

$

(124,018)

 
v3.25.4
Debt (Tables)
 6 Months Ended
Dec. 31, 2025
Debt  
Schedule of long term debt

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revolving Credit and
Term A-1 Loans

​

Term A-2 Loans

Net Leverage Ratio

​

Base rate

SOFR

​

Base rate

SOFR

≥ 4.00:1.00

 

1.75

%

2.75

%

  ​

2.25

%

3.25

%

≥ 3.50:1.00 and < 4.00:1.00

​

1.50

%

2.50

%

​

2.00

%

3.00

%

≥ 2.25:1.00 and < 3.50:1.00

​

1.25

%

2.25

%

​

1.75

%

2.75

%

< 2.25:1.00

​

1.00

%

2.00

%

​

1.50

%

2.50

%

 

​

​

​

​

​

Period

maximum
Net Leverage Ratio

​

minimum
interest coverage ratio

Prior to October 31, 2024

4.00:1.00

​

3.00:1.00

First fiscal quarter ended after October 31, 2024 through January 3, 2026

4.75:1.00

​

2.50:1.00

After January 3, 2026 to January 3, 2027

4.50:1.00

​

2.75:1.00

After January 3, 2027 to January 3, 2028

4.25:1.00

​

3.00:1.00

After January 3, 2028

4.00:1.00

​

3.00:1.00

 

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

June 30, 

As of

​

2025

​

2025

Term A-1 Loans due July 2029

​

$

340,200

​

$

344,588

Term A-2 Loans due July 2031

​

​

289,800

​

​

293,537

Gross term loan balances

​

 

630,000

​

 

638,125

Unamortized debt issuance costs

​

 

(5,760)

​

 

(6,440)

Term loan balances, net of unamortized debt issuance costs

​

 

624,240

​

 

631,685

Less: current maturities of long-term debt

​

 

(20,638)

​

 

(16,250)

Long-term debt

​

$

603,602

​

$

615,435

 

Six Months
v3.25.4
Derivatives (Tables)
 6 Months Ended
Dec. 31, 2025
Derivatives  
Schedule of significant outstanding derivatives employed to manage market risk and designated as cash flow hedges

​

​

​

​

​

​

​

​

​

​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Other current assets

 

​

  ​

 

​

  ​

Interest rate swaps

​

$

313

​

$

1,442

Other assets

​

​

​

​

​

​

Interest rate swaps

​

​

367

​

​

89

Accrued expense and other current liabilities

​

 

​

​

 

​

Foreign currency option contracts, net

​

 

(11)

​

 

—

Interest rate swap

​

 

(669)

​

 

—

Other liabilities

​

​

​

​

​

​

Interest rate swaps

​

​

(2,590)

​

​

(3,885)

Total Fair Value

​

 

​

​

 

​

Foreign currency option contracts, net

​

$

(11)

​

$

—

Interest rate swaps

​

$

(2,579)

​

$

(2,354)

​

Notional amounts of the derivatives as of the balance sheet date were:

​

​

​

​

​

​

​

December 31, 

As of

  ​ ​ ​

2025

Interest rate swaps

​

$

425,000

Interest rate collar

​

$

250,000

Brazil Real-USD call options

​

R$

18,000

Brazil Real-USD put options

​

R$

(18,000)

 
Schedule of effects of derivatives

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months

 

Six Months

​

For the Periods Ended December 31

​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

​

Foreign currency option contracts, net

 

​

  ​

 

​

  ​

​

​

  ​

 

​

  ​

​

Income recorded in consolidated statements of operations

​

$

—

​

$

(397)

​

$

(20)

​

$

(907)

​

Consolidated statement of operations - total cost of goods sold

​

$

241,254

​

$

207,391

​

$

485,364

​

$

384,328

​

Consolidated statement of operations - total selling, general and administrative expenses

​

$

82,330

​

$

76,337

​

$

150,853

​

$

142,133

​

Expense recorded in comprehensive income

​

$

5

​

$

257

​

$

11

​

$

120

​

Interest rate swaps

​

 

​

​

 

​

​

 

​

​

 

​

​

Income recorded in consolidated statements of operations

​

$

(579)

​

$

(3,790)

​

$

(1,517)

​

$

(7,690)

​

Consolidated statement of operations - total interest expense, net

​

$

11,756

​

$

8,996

​

$

23,815

​

$

16,637

​

(Income) expense recorded in comprehensive income

​

$

(575)

​

$

(2,445)

​

$

224

​

$

2,540

​

 
v3.25.4
Fair Value Measurements (Tables)
 6 Months Ended
Dec. 31, 2025
Fair Value Measurements  
Schedule of fair value of assets and liabilities measured on a recurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of

​

December 31, 2025

​

June 30, 2025

​

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

  ​ ​ ​

Level 3

Cash equivalents

​

$

2,000

​

$

—

​

$

—

​

$

12,000

​

$

—

​

$

—

Short-term investments

​

$

19,022

​

$

—

​

$

—

​

$

9,000

​

$

—

​

$

—

Foreign currency derivatives

​

$

—

​

$

(11)

​

$

—

​

$

—

​

$

—

​

$

—

Interest rate swaps

​

$

—

​

$

(2,579)

​

$

—

​

$

—

​

$

(2,354)

​

$

—

 
v3.25.4
Business Segments (Tables)
 6 Months Ended
Dec. 31, 2025
Business Segments  
Schedule of information regarding reportable segments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Three Months

  ​ ​ ​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2025

  ​ ​ ​

2024

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Animal Health

​

$

289,977

​

$

229,418

​

$

573,433

​

$

411,941

Mineral Nutrition

​

 

68,945

​

 

63,250

​

 

131,933

​

 

122,312

Performance Products

​

 

14,988

​

 

16,593

​

 

32,437

​

 

35,440

Total segments

​

$

373,910

​

$

309,261

​

$

737,803

​

$

569,693

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months

​

Six Months

For the Periods Ended December 31

  ​ ​ ​

2025

​

2024

​

2025

​

2024

Animal Health

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

 

$

289,977

 

$

229,418

 

$

573,433

​

$

411,941

Cost of sales

​

​

168,031

​

​

138,086

​

​

340,903

​

​

246,318

Selling, general and administrative expenses(1)

​

​

52,199

​

​

43,817

​

​

99,450

​

​

85,387

Add: Depreciation and amortization

​

​

11,583

​

​

10,286

​

​

23,182

​

​

17,949

Add: Acquisition-related cost of goods sold(2)

​

​

839

​

​

1,634

​

​

1,956

​

​

1,634

Subtract: Insurance proceeds(4)

​

​

—

​

​

(1,258)

​

​

(1,177)

​

​

(1,258)

Adjusted EBITDA

​

​

82,169

​

​

58,177

​

​

157,041

​

​

98,561

​

​

​

​

​

​

​

​

​

​

​

​

​

Mineral Nutrition

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

 

​

68,945

 

​

63,250

 

​

131,933

​

​

122,312

Cost of sales

​

​

61,215

​

​

56,355

​

​

118,499

​

​

110,242

Selling, general and administrative expenses(1)

​

​

1,904

​

​

1,708

​

​

3,619

​

​

3,637

Add: Depreciation and amortization

​

​

541

​

​

515

​

​

1,075

​

​

1,031

Adjusted EBITDA

​

​

6,367

​

​

5,702

​

​

10,890

​

​

9,464

​

​

​

​

​

​

​

​

​

​

​

​

​

Performance Products

​

​

​

​

​

​

​

​

​

​

​

​

Net sales

 

​

14,988

 

​

16,593

 

​

32,437

​

​

35,440

Cost of sales

​

​

12,010

​

​

12,950

​

​

25,964

​

​

27,768

Selling, general and administrative expenses(1)

​

​

2,388

​

​

2,047

​

​

4,506

​

​

4,120

Add: Depreciation and amortization

​

​

241

​

​

292

​

​

467

​

​

625

Adjusted EBITDA

​

​

831

​

​

1,888

​

​

2,434

​

​

4,177

​

​

​

​

​

​

​

​

​

​

​

​

​

Adjusted EBITDA – Total segments

​

$

89,367

​

$

65,767

​

$

170,365

​

$

112,202

Reconciliation of Adjusted EBITDA to income before income taxes:

​

​

​

​

​

​

​

​

​

​

​

​

Less:

​

​

​

​

​

​

​

​

​

​

​

​

Interest expense, net

​

​

11,756

​

​

8,996

​

 

23,815

​

 

16,637

Depreciation and amortization – Total segments

​

​

12,365

​

​

11,093

​

 

24,724

​

 

19,605

Depreciation and amortization – Corporate

​

​

526

​

​

481

​

 

997

​

 

973

Corporate costs

​

​

21,303

​

​

17,592

​

​

40,443

​

​

33,371

Acquisition-related cost of goods sold(2)

​

​

839

​

​

1,634

​

 

1,956

​

 

1,634

Acquisition-related transaction costs

​

​

193

​

​

8,815

​

 

451

​

 

12,239

Stock-based compensation expense - named executive officer awards granted in fiscal year 2024

​

​

180

​

​

180

​

 

359

​

 

359

Phibro Forward income growth initiatives implementation costs - SG&A(3)

​

​

3,635

​

​

1,696

​

​

3,635

​

​

2,046

Insurance proceeds(4)

​

​

—

​

​

(1,257)

​

​

(3,786)

​

​

(1,257)

Foreign currency losses, net

​

​

2,145

​

​

11,699

​

 

5,079

​

 

12,137

Income before income taxes

​

$

36,425

​

$

4,838

​

$

72,692

​

$

14,458

​

(1)Selling, general, and administrative expenses primarily include compensation-related expenses for employees not directly involved in the production and sale of inventory, rent expenses, research and development costs, marketing expenses, and other general and administrative expenses.
(2)Represents cost of goods sold related to the stepped-up value of inventory obtained in acquisitions.
(3)Phibro Forward is a company-wide initiative focused on unlocking additional areas of revenue growth and cost savings.
(4)Represents insurance settlement gains, which are recorded within selling, general and administrative expenses.

 
Schedule of geographic location of property, plant and equipment, net and operating lease ROU assets

​

​

​

​

​

​

​

​

​

​

December 31, 

​

June 30, 

As of

  ​ ​ ​

2025

  ​ ​ ​

2025

Property, plant and equipment, net and ROU operating lease assets

 

​

  ​

 

​

  ​

United States

​

$

236,887

​

$

239,874

Israel

​

 

73,248

​

 

74,403

Brazil

​

 

35,244

​

 

34,504

Ireland

​

​

27,432

​

​

25,141

Other

​

 

21,986

​

 

22,107

​

​

$

394,797

​

$

396,029

 
v3.25.4
Summary of Significant Accounting Policies and New Accounting Standards - Net Income Per Share and Weighted Average Shares (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Net Income per Share and Weighted Average Shares        
Net Income (Loss) $ 27,459 $ 3,185 $ 53,986 $ 10,160
Net income - basic 27,459 3,185 53,986 10,160
Net income - diluted $ 27,459 $ 3,185 $ 53,986 $ 10,160
Weighted average number of shares        
Weighted average number of shares - basic (in shares) 40,534 40,504 40,534 40,504
Dilutive effect of restricted stock units (in shares) 422 211 382 145
Weighted average number of shares - diluted (in shares) 40,956 40,715 40,916 40,649
Net income per share        
Basic (in dollars per share) $ 0.68 $ 0.08 $ 1.33 $ 0.25
Diluted (in dollars per share) $ 0.67 $ 0.08 $ 1.32 $ 0.25
v3.25.4
Summary of Significant Accounting Policies and New Accounting Standards - New Accounting Standards (Details)
Dec. 31, 2025
Accounting Standards Update 2023-09  
New Accounting Standards  
Change in Accounting Principle, Accounting Standards Update, Adopted false
Accounting Standards Update 2024-03  
New Accounting Standards  
Change in Accounting Principle, Accounting Standards Update, Adopted false
v3.25.4
Acquisition - General Information (Details) - Zoetis Inc.
Oct. 31, 2024
Business combination, description  
Business combination, effective date of acquisition Oct. 31, 2024
Business combination, name of acquiree medicated feed additives portfolio, certain water-soluble products and related assets from Zoetis, Inc
v3.25.4
Acquisition - Consideration Transferred (Details) - USD ($)
$ in Thousands
 6 Months Ended
Oct. 31, 2024
Dec. 31, 2024
Payments to acquire businesses, net of cash acquired    
Business acquisition, net of cash acquired   $ 290,825
Zoetis Inc.    
Business combination, consideration transferred    
Business combination, consideration transferred $ 297,500  
Payments to acquire businesses, net of cash acquired    
Business acquisition, net of cash acquired $ 286,500  
v3.25.4
Acquisition - Transaction Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Acquisition-related transaction costs        
Acquisition-related transaction costs $ 193 $ 8,815 $ 451 $ 12,239
Zoetis Inc.        
Acquisition-related transaction costs        
Acquisition-related transaction costs $ 200 $ 8,800 $ 500 $ 12,200
v3.25.4
Acquisition - Revenue of Acquiree (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Zoetis Inc.        
Business acquisition, pro forma information        
Business combination, pro forma information, revenue of acquiree since acquisition date, actual $ 94.1 $ 36.7 $ 174.6 $ 36.7
v3.25.4
Acquisition - Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Assets acquired:    
Goodwill $ 59,814 $ 59,645
Zoetis Inc.    
Assets acquired:    
Cash and cash equivalents   11,018
Accounts receivable, net   350
Inventories, net   138,981
Property, plant and equipment   144,964
Other assets   13,208
Goodwill   4,948
Total fair value of assets acquired   313,469
Liabilities assumed:    
Accounts payable   1,411
Accrued expenses and other current liabilities   4,165
Other noncurrent liabilities   10,346
Total fair value of liabilities assumed   15,922
Fair value of net assets acquired   $ 297,547
v3.25.4
Acquisition - Goodwill (Details) - Zoetis Inc.
Oct. 31, 2024
Business Combination, Goodwill  
Business combination, goodwill, reporting unit assignment, incomplete false
Goodwill, Name of Segment Animal Health
v3.25.4
Acquisition - Provisional Information, Initial Accounting Incomplete (Details) - Zoetis Inc. - USD ($)
$ in Thousands
Oct. 31, 2024
Jun. 30, 2025
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustments    
Business combination, provisional information, initial accounting incomplete, adjustment, inventory $ 7,600  
Business combination, provisional information, initial accounting incomplete, adjustment, property, plant, and equipment $ 43,500  
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment    
Property, plant and equipment   $ 144,964
Minimum    
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment    
Estimated useful lives 1 year  
Maximum    
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment    
Estimated useful lives 21 years  
Machinery and Equipment    
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment    
Property, plant and equipment $ 102,100  
Building and Building Improvements    
Business Combination, Recognized Asset Acquired, Property, Plant, and Equipment    
Property, plant and equipment $ 38,100  
v3.25.4
Acquisition - Pro Forma Results (Details) - Zoetis Inc. - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Business acquisition, pro forma information        
Net sales $ 373,910 $ 348,944 $ 737,803 $ 720,050
Operating income $ 50,326 $ 36,605 $ 101,586 $ 86,630
v3.25.4
Statements of Operations-Additional Information - Segments (Details) - segment
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Business Segments        
Number of reportable segments 3 3 3 3
v3.25.4
Statements of Operations-Additional Information - Net Sales by Product Type (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Net sales        
Net sales $ 373,910 $ 309,261 $ 737,803 $ 569,693
Animal Health        
Net sales        
Net sales 289,977 229,418 573,433 411,941
MFAs and other        
Net sales        
Net sales 202,111 150,338 397,309 258,182
Nutritional Specialties        
Net sales        
Net sales 50,230 45,909 98,381 88,558
Vaccines        
Net sales        
Net sales 37,636 33,171 77,743 65,201
Mineral Nutrition        
Net sales        
Net sales 68,945 63,250 131,933 122,312
Performance Products        
Net sales        
Net sales $ 14,988 $ 16,593 $ 32,437 $ 35,440
v3.25.4
Statements of Operations-Additional Information - Net Sales by Region (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Net sales        
Net sales $ 373,910 $ 309,261 $ 737,803 $ 569,693
United States        
Net sales        
Net sales 221,757 184,441 424,104 327,990
Latin America and Canada        
Net sales        
Net sales 87,600 72,674 174,826 143,825
Europe, Middle East and Africa        
Net sales        
Net sales 44,784 32,589 89,726 63,714
Asia Pacific        
Net sales        
Net sales $ 19,769 $ 19,557 $ 49,147 $ 34,164
v3.25.4
Statements of Operations-Additional Information - General Information (Details)
 6 Months Ended
Dec. 31, 2025
Statements of Operations-Additional Information  
Payment term, minimum 30 days
Payment term, maximum 120 days
Average worldwide collection period for accounts receivable 60 days
v3.25.4
Statements of Operations-Additional Information - Interest Expense, Net - Tabular Disclosure (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Interest expense, net        
Amortization of debt issuance costs $ 572 $ 504 $ 1,144 $ 871
Refinancing expense     1,960 1,960
Other 65 110 135 336
Interest expense 12,481 9,778 25,024 18,543
Interest income (725) (782) (1,209) (1,906)
Interest expense, net 11,756 8,996 23,815 16,637
2021 Credit Facilities        
Interest expense, net        
Interest expense, excluding amortization $ 11,844 $ 9,164 $ 23,745 15,364
2022 Term Loan due September 2027        
Interest expense, net        
Interest expense, excluding amortization       $ 12
v3.25.4
Statements of Operations-Additional Information - Interest Expense, Net - Additional Information (Details) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Statements of Operations-Additional Information    
Certain costs and charges resulting from refinancing $ 1,960 $ 1,960
New creditor and third-party financing 1,446  
Debt extinguishment costs resulting from the write-off of unamortized deferred financing costs on previously outstanding debt $ 514  
v3.25.4
Statements of Operations-Additional Information - Depreciation and Amortization (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Depreciation and amortization        
Depreciation of property, plant and equipment $ 11,178 $ 9,409 $ 22,299 $ 16,151
Amortization of intangible assets 1,713 2,165 3,422 4,427
Depreciation and amortization $ 12,891 $ 11,574 $ 25,721 $ 20,578
v3.25.4
Balance Sheets-Additional Information - Inventories (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Inventories, net    
Raw materials $ 178,465 $ 162,626
Work-in-process 29,228 27,982
Finished goods 309,654 253,817
Inventory, net $ 517,347 $ 444,425
v3.25.4
Balance Sheets-Additional Information - Other Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Other assets    
ROU operating lease assets $ 39,416 $ 41,339
Deferred income taxes 19,504 25,548
Deposits 584 610
Insurance investments 3,976 6,547
Other investments 8,693 5,142
Debt issuance costs 3,250 3,714
Derivative instruments 367 89
Other 19,317 16,501
Other assets, total $ 95,107 $ 99,490
Operating Lease, Right-of-Use Asset, Statement of Financial Position Other assets, total Other assets, total
Derivative Asset, Noncurrent, Statement of Financial Position Other assets, total Other assets, total
v3.25.4
Balance Sheets-Additional Information - Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Accrued expenses and other current liabilities    
Employee related $ 44,106 $ 51,758
Current operating lease liabilities 8,959 9,127
Commissions and rebates 24,470 23,274
Professional fees 7,845 8,098
Income and other taxes 10,670 8,397
Insurance-related 1,890 1,655
Insurance premium financing 1,369 5,476
Other 29,127 31,237
Accrued expenses and other current liabilities, total $ 128,436 $ 139,022
Operating Lease, Liability, Current, Statement of Financial Position Accrued expenses and other current liabilities, total Accrued expenses and other current liabilities, total
v3.25.4
Balance Sheets-Additional Information - Other Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Other liabilities    
Long-term operating lease liabilities $ 32,968 $ 33,740
Long term and deferred income taxes 22,049 19,471
Supplemental retirement benefits, deferred compensation and other 6,720 5,526
U.S. pension plan, net 1,663 1,795
International retirement plans 3,752 3,532
Other long-term liabilities 10,478 11,361
Derivative instruments 2,590 3,885
Other liabilities, total $ 80,220 $ 79,310
Operating Lease, Liability, Noncurrent, Statement of Financial Position Other liabilities, total Other liabilities, total
Derivative Liability, Noncurrent, Statement of Financial Position Other liabilities, total Other liabilities, total
v3.25.4
Balance Sheets-Additional Information - Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Accumulated other comprehensive loss    
Derivative instruments $ (2,590) $ (2,354)
Foreign currency translation adjustment (111,744) (113,452)
Unrecognized net pension losses (12,236) (12,392)
Income tax benefit 4,200 4,180
Accumulated other comprehensive loss $ (122,370) $ (124,018)
v3.25.4
Debt - General Information (Details) - USD ($)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Jul. 03, 2024
Debt      
Payments of debt issuance costs   $ 10,377  
Letter of Credit      
Debt      
Letters of credit outstanding $ 2,853    
Debt instrument, term 1 year    
Secured Debt | 2024 Credit Agreement      
Debt      
Payments of debt issuance costs   $ 10,377  
Secured Debt | Initial Term A-1 Loan due July 2029      
Debt      
Debt instrument, face amount     $ 162,000
Secured Debt | Delayed Draw Term A-1 Loans      
Debt      
Debt instrument, face amount     189,000
Secured Debt | Revolving Credit Commitments      
Debt      
Debt instrument, face amount     310,000
Aggregate available credit facilities $ 200,147    
Outstanding borrowings $ 107,000    
Secured Debt | Initial Term A-2 Loan due July 2031      
Debt      
Debt instrument, face amount     138,000
Secured Debt | Delayed Draw Term A-2 Loans      
Debt      
Debt instrument, face amount     $ 161,000
v3.25.4
Debt - Fluctuating Rates of Interest (Details)
 6 Months Ended
Dec. 31, 2025
Revolving Credit Commitments and Term A-1 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario One  
Debt  
Basis spread on variable rate (as a percent) 1.75%
Revolving Credit Commitments and Term A-1 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario Two  
Debt  
Basis spread on variable rate (as a percent) 1.50%
Revolving Credit Commitments and Term A-1 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario Three  
Debt  
Basis spread on variable rate (as a percent) 1.25%
Revolving Credit Commitments and Term A-1 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario Four  
Debt  
Basis spread on variable rate (as a percent) 1.00%
Revolving Credit Commitments and Term A-1 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario One  
Debt  
Basis spread on variable rate (as a percent) 2.75%
Revolving Credit Commitments and Term A-1 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario Two  
Debt  
Basis spread on variable rate (as a percent) 2.50%
Revolving Credit Commitments and Term A-1 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario Three  
Debt  
Basis spread on variable rate (as a percent) 2.25%
Revolving Credit Commitments and Term A-1 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario Four  
Debt  
Basis spread on variable rate (as a percent) 2.00%
Term A-2 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario One  
Debt  
Basis spread on variable rate (as a percent) 2.25%
Term A-2 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario Two  
Debt  
Basis spread on variable rate (as a percent) 2.00%
Term A-2 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario Three  
Debt  
Basis spread on variable rate (as a percent) 1.75%
Term A-2 Loans | Base Rate | Debt Instrument, Basis Spread on Variable Rate, Scenario Four  
Debt  
Basis spread on variable rate (as a percent) 1.50%
Term A-2 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario One  
Debt  
Basis spread on variable rate (as a percent) 3.25%
Term A-2 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario Two  
Debt  
Basis spread on variable rate (as a percent) 3.00%
Term A-2 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario Three  
Debt  
Basis spread on variable rate (as a percent) 2.75%
Term A-2 Loans | Secured Overnight Financing Rate (SOFR) | Debt Instrument, Basis Spread on Variable Rate, Scenario Four  
Debt  
Basis spread on variable rate (as a percent) 2.50%
v3.25.4
Debt - Financial Covenants (Details) - Secured Debt - 2024 Credit Agreement
Dec. 31, 2025
Debt  
Maximum Net Leverage Ratio, prior to October 31, 2024 4
Maximum Net Leverage Ratio, first fiscal quarter ended after October 31, 2024 through January 3, 2026 4.75
Maximum Net Leverage Ratio, after January 3, 2026 to January 3, 2027 4.5
Maximum Net Leverage Ratio, after January 3, 2027 to January 3, 2028 4.25
Maximum Net Leverage Ratio, after January 3, 2028 4
Minimum interest coverage ratio, prior to October 31, 2024 3
Minimum interest coverage ratio, first fiscal quarter ended after October 31, 2024 through January 3, 2026 2.5
Minimum interest coverage ratio, after January 3, 2026 to January 3, 2027 2.75
Minimum interest coverage ratio, after January 3, 2027 to January 3, 2028 3
Minimum interest coverage ratio, after January 3, 2028 3
v3.25.4
Debt - Reconciliation (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Long-Term Debt    
Long-term debt, gross $ 630,000 $ 638,125
Unamortized debt issuance costs (5,760) (6,440)
Long-term debt, current and non-current 624,240 631,685
Secured Debt | Initial Term A-1 Loan due July 2029    
Long-Term Debt    
Long-term debt, gross 340,200 344,588
Secured Debt | Initial Term A-2 Loan due July 2031    
Long-Term Debt    
Long-term debt, gross $ 289,800 $ 293,537
v3.25.4
Debt - Classification (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Long-Term Debt    
Long-term debt, current and non-current $ 624,240 $ 631,685
Less: current maturities of long-term debt and other (20,638) (16,250)
Long-term debt $ 603,602 $ 615,435
v3.25.4
Debt - Interest Rates - Stated Rates (Details)
Dec. 31, 2025
Jun. 30, 2025
Revolving Credit Facility | Revolver    
Debt    
Interest rate (as a percent) 5.89% 5.89%
Secured Debt | Initial Term A-1 Loan due July 2029    
Debt    
Interest rate (as a percent) 5.45% 5.45%
Secured Debt | Delayed Draw Term A-1 Loans    
Debt    
Interest rate (as a percent) 6.08% 6.50%
Secured Debt | Initial Term A-2 Loan due July 2031    
Debt    
Interest rate (as a percent) 6.39% 6.39%
Secured Debt | Delayed Draw Term A-2 Loans    
Debt    
Interest rate (as a percent) 6.62% 7.20%
v3.25.4
Debt - Interest Rates - Weighted Average Rates (Details)
 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Revolving Credit Facility | Revolver    
Debt    
Long-term debt, weighted average interest rate, over time (as a percent) 5.89% 6.62%
Secured Debt | Initial Term A-1 Loan due July 2029    
Debt    
Long-term debt, weighted average interest rate, over time (as a percent) 5.45% 2.94%
Secured Debt | Delayed Draw Term A-1 Loans    
Debt    
Long-term debt, weighted average interest rate, over time (as a percent) 6.32% 6.96%
Secured Debt | Initial Term A-2 Loan due July 2031    
Debt    
Long-term debt, weighted average interest rate, over time (as a percent) 6.39% 3.44%
Secured Debt | Delayed Draw Term A-2 Loans    
Debt    
Long-term debt, weighted average interest rate, over time (as a percent) 6.95% 7.31%
v3.25.4
Debt - Derivatives (Details) - Cash Flow Hedging - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Sep. 30, 2024
Jul. 31, 2022
Interest Rate Swap        
Derivatives        
Derivative, notional amount $ 425,000      
Interest Rate Swap, July 2022        
Derivatives        
Derivative, notional amount       $ 300,000
Derivative, fixed interest rate (as a percent)       0.51%
Interest Rate Swap, September 2024        
Derivatives        
Derivative, notional amount     $ 150,000  
Derivative, fixed interest rate (as a percent)     3.18%  
Interest Rate Swap, March 2025        
Derivatives        
Derivative, notional amount   $ 275,000    
Derivative, fixed interest rate (as a percent)   3.64%    
Interest Rate Collar        
Derivatives        
Derivative, notional amount $ 250,000 $ 250,000    
Derivative, floor interest rate (as a percent)   1.99%    
Derivative, cap interest rate (as a percent)   4.75%    
v3.25.4
Related Party Transactions (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Immediate Family Member of Management or Principal Owner | Compensation and Benefit for Services        
Related Party Transactions        
Aggregate compensation and benefits $ 442 $ 507 $ 1,640 $ 1,288
v3.25.4
Stock Incentive Plan - Restricted Stock Units (Details) - $ / shares
 1 Months Ended 12 Months Ended
Aug. 31, 2025
Jun. 30, 2024
Dec. 31, 2025
Restricted Stock Units (RSUs)      
Stock Incentive Plan      
Outstanding and unvested (in shares)     682,162
Weighted average grant date fair (in dollars per share)     $ 8.48
Restricted Stock Units (RSUs) | July 2023      
Stock Incentive Plan      
Granted (in shares)   600,000  
Time-based Restricted Stock Units | August 2025      
Stock Incentive Plan      
Granted (in shares) 113,847    
Vesting term 3 years    
Grant date fair value (in dollars per share) $ 25.19    
v3.25.4
Stock Incentive Plan - Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Restricted Stock Units (RSUs)    
Stock Incentive Plan    
Stock-based compensation expense $ 434 $ 180
v3.25.4
Stock Incentive Plan - Cost Not yet Recognized (Details) - Restricted Stock Units (RSUs)
$ in Thousands
 6 Months Ended
Dec. 31, 2025
USD ($)
Stock Incentive Plan  
Cost not yet recognized, amount $ 4,110
Cost not yet recognized, period for recognition 2 years 9 months 18 days
v3.25.4
Commitments and Contingencies (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Environmental    
Accrual for environmental loss contingencies $ 4,229 $ 4,292
Environmental Loss Contingency, Statement of Financial Position Other liabilities, Accrued expenses and other current liabilities Other liabilities, Accrued expenses and other current liabilities
v3.25.4
Derivatives - General Information (Details) - Cash Flow Hedging - USD ($)
$ in Thousands
Dec. 31, 2025
Mar. 31, 2025
Sep. 30, 2024
Jul. 31, 2022
Interest Rate Swap        
Derivatives        
Derivative, notional amount $ 425,000      
Interest Rate Swap, July 2022        
Derivatives        
Derivative, notional amount       $ 300,000
Derivative, fixed interest rate (as a percent)       0.51%
Interest Rate Swap, September 2024        
Derivatives        
Derivative, notional amount     $ 150,000  
Derivative, fixed interest rate (as a percent)     3.18%  
Interest Rate Swap, March 2025        
Derivatives        
Derivative, notional amount   $ 275,000    
Derivative, fixed interest rate (as a percent)   3.64%    
Interest Rate Collar        
Derivatives        
Derivative, notional amount $ 250,000 $ 250,000    
Derivative, floor interest rate (as a percent)   1.99%    
Derivative, cap interest rate (as a percent)   4.75%    
v3.25.4
Derivatives - Balance Sheet Location (Details) - Cash Flow Hedging - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Foreign Exchange Option    
Liabilities    
Total Fair Value $ (11)  
Foreign Exchange Option | Accrued Liabilities and Other Liabilities, Current    
Liabilities    
Liabilities (11)  
Interest Rate Swap    
Liabilities    
Total Fair Value (2,579) $ (2,354)
Interest Rate Swap | Other Current Assets    
Assets    
Assets 313 1,442
Interest Rate Swap | Other Noncurrent Assets    
Assets    
Assets 367 89
Interest Rate Swap | Accrued Liabilities and Other Liabilities, Current    
Liabilities    
Liabilities (669)  
Interest Rate Swap | Other Noncurrent Liabilities    
Liabilities    
Liabilities $ (2,590) $ (3,885)
v3.25.4
Derivatives - Notional Amounts (Details) - Cash Flow Hedging
R$ in Thousands, $ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2025
BRL (R$)
Mar. 31, 2025
USD ($)
Foreign Exchange Option | Brazil, Brazil Real | Long      
Derivatives      
Derivative, notional amount | R$   R$ 18,000  
Foreign Exchange Option | Brazil, Brazil Real | Short      
Derivatives      
Derivative, notional amount | R$   R$ 18,000  
Interest Rate Swap      
Derivatives      
Derivative, notional amount | $ $ 425,000    
Interest Rate Collar      
Derivatives      
Derivative, notional amount | $ $ 250,000   $ 250,000
v3.25.4
Derivatives - Effects of Derivatives (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Derivatives        
Consolidated statement of operations - total cost of goods sold $ 241,254 $ 207,391 $ 485,364 $ 384,328
Consolidated statement of operations - total selling, general and administrative expenses 82,330 76,337 150,853 142,133
Interest expense, net 11,756 8,996 23,815 16,637
Derivatives        
Expense (income) recorded in comprehensive income (570) (2,188) 235 2,660
Foreign Exchange Option        
Derivatives        
Expense (income) recorded in comprehensive income 5 257 11 120
Foreign Exchange Option | Cash Flow Hedging        
Derivatives        
Income recorded in consolidated statements of operations   $ (397) $ (20) $ (907)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income   Consolidated statement of operations - total cost of goods sold, Consolidated statement of operations - total selling, general and administrative expenses Consolidated statement of operations - total cost of goods sold, Consolidated statement of operations - total selling, general and administrative expenses Consolidated statement of operations - total cost of goods sold, Consolidated statement of operations - total selling, general and administrative expenses
Interest Rate Swap        
Derivatives        
Expense (income) recorded in comprehensive income (575) $ (2,445) $ 224 $ 2,540
Interest Rate Swap | Cash Flow Hedging        
Derivatives        
Income recorded in consolidated statements of operations $ (579) $ (3,790) $ (1,517) $ (7,690)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income Interest expense, net Interest expense, net Interest expense, net Interest expense, net
v3.25.4
Fair Value Measurements - Fair Value of Assets (Liabilities) (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Fair Value of Assets (Liabilities)    
Short-term investments $ 19,022 $ 9,000
Level 1    
Fair Value of Assets (Liabilities)    
Short-term investments 19,022 9,000
Level 1 | Foreign Exchange Option    
Fair Value of Assets (Liabilities)    
Foreign currency derivatives and interest rate swap 0 0
Level 1 | Interest Rate Swap    
Fair Value of Assets (Liabilities)    
Foreign currency derivatives and interest rate swap 0 0
Level 1 | Cash Equivalents    
Fair Value of Assets (Liabilities)    
Cash and cash equivalents 2,000 12,000
Level 2    
Fair Value of Assets (Liabilities)    
Short-term investments 0 0
Level 2 | Foreign Exchange Option    
Fair Value of Assets (Liabilities)    
Foreign currency derivatives and interest rate swap (11) 0
Level 2 | Interest Rate Swap    
Fair Value of Assets (Liabilities)    
Foreign currency derivatives and interest rate swap (2,579) (2,354)
Level 3    
Fair Value of Assets (Liabilities)    
Short-term investments 0 0
Level 3 | Foreign Exchange Option    
Fair Value of Assets (Liabilities)    
Foreign currency derivatives and interest rate swap 0 0
Level 3 | Interest Rate Swap    
Fair Value of Assets (Liabilities)    
Foreign currency derivatives and interest rate swap $ 0 $ 0
v3.25.4
Fair Value Measurements - Assets Measured on Recurring Basis, Unobservable Inputs (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Changes in the fair value of the Level 3 assets    
Transfers between levels, assets $ 0 $ 0
v3.25.4
Fair Value Measurements - Liabilities Measured on Recurring Basis, Unobservable Inputs (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Dec. 31, 2025
Jun. 30, 2025
Changes in the fair value of the Level 3 liabilities    
Transfers between levels, liabilities $ 0 $ 0
v3.25.4
Business Segments - General Information (Details)
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Business Segments        
Segment Reporting, CODM, Individual Title and Position or Group Name srt:ChiefExecutiveOfficerMember srt:ChiefExecutiveOfficerMember srt:ChiefExecutiveOfficerMember srt:ChiefExecutiveOfficerMember
v3.25.4
Business Segments - Net Sales (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Net Sales        
Net sales $ 373,910 $ 309,261 $ 737,803 $ 569,693
Animal Health        
Net Sales        
Net sales 289,977 229,418 573,433 411,941
Mineral Nutrition        
Net Sales        
Net sales 68,945 63,250 131,933 122,312
Performance Products        
Net Sales        
Net sales $ 14,988 $ 16,593 $ 32,437 $ 35,440
v3.25.4
Business Segments - Adjusted EBITDA (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Adjusted EBITDA        
Net sales $ 373,910 $ 309,261 $ 737,803 $ 569,693
Cost of goods sold 241,254 207,391 485,364 384,328
Selling, general and administrative expenses 82,330 76,337 150,853 142,133
Add: Depreciation and amortization 12,891 11,574 25,721 20,578
Add: Acquisition-related cost of goods sold 839 1,634 1,956 1,634
Add: Phibro Forward income growth initiatives implementation costs 3,635 1,696 3,635 2,046
Subtract: Insurance proceeds   (1,257) (3,786) (1,257)
Adjusted EBITDA 89,367 65,767 170,365 112,202
Animal Health        
Adjusted EBITDA        
Net sales 289,977 229,418 573,433 411,941
Add: Acquisition-related cost of goods sold 839 1,634 1,956 1,634
Subtract: Insurance proceeds   (1,258) (1,177) (1,258)
Adjusted EBITDA 82,169 58,177 157,041 98,561
Mineral Nutrition        
Adjusted EBITDA        
Net sales 68,945 63,250 131,933 122,312
Adjusted EBITDA 6,367 5,702 10,890 9,464
Performance Products        
Adjusted EBITDA        
Net sales 14,988 16,593 32,437 35,440
Adjusted EBITDA 831 1,888 2,434 4,177
Operating Segments        
Adjusted EBITDA        
Add: Depreciation and amortization 12,365 11,093 24,724 19,605
Operating Segments | Animal Health        
Adjusted EBITDA        
Cost of goods sold 168,031 138,086 340,903 246,318
Selling, general and administrative expenses 52,199 43,817 99,450 85,387
Add: Depreciation and amortization 11,583 10,286 23,182 17,949
Operating Segments | Mineral Nutrition        
Adjusted EBITDA        
Cost of goods sold 61,215 56,355 118,499 110,242
Selling, general and administrative expenses 1,904 1,708 3,619 3,637
Add: Depreciation and amortization 541 515 1,075 1,031
Operating Segments | Performance Products        
Adjusted EBITDA        
Cost of goods sold 12,010 12,950 25,964 27,768
Selling, general and administrative expenses 2,388 2,047 4,506 4,120
Add: Depreciation and amortization $ 241 $ 292 $ 467 $ 625
v3.25.4
Business Segments - Reconciliation of Adjusted EBITDA to Income Before Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Reconciliation of Adjusted EBITDA to income before income taxes        
Adjusted EBITDA - Total segments $ 89,367 $ 65,767 $ 170,365 $ 112,202
Interest expense, net 11,756 8,996 23,815 16,637
Depreciation and amortization 12,891 11,574 25,721 20,578
Corporate costs 21,303 17,592 40,443 33,371
Acquisition-related cost of goods sold 839 1,634 1,956 1,634
Acquisition-related transaction costs 193 8,815 451 12,239
Stock-based compensation     773 359
Phibro Forward income growth initiatives implementation costs 3,635 1,696 3,635 2,046
Insurance proceeds   (1,257) (3,786) (1,257)
Foreign currency losses, net 2,145 11,699 5,079 12,137
Income before income taxes 36,425 4,838 72,692 14,458
Operating Segments        
Reconciliation of Adjusted EBITDA to income before income taxes        
Depreciation and amortization 12,365 11,093 24,724 19,605
Stock-based compensation 180 180 359 359
Corporate        
Reconciliation of Adjusted EBITDA to income before income taxes        
Depreciation and amortization $ 526 $ 481 $ 997 $ 973
v3.25.4
Business Segments - Property, Plant and Equipment, Net and Operating Lease ROU Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Jun. 30, 2025
Property, plant and equipment, net and operating lease ROU assets    
Property, plant and equipment, net and operating lease ROU assets $ 394,797 $ 396,029
United States    
Property, plant and equipment, net and operating lease ROU assets    
Property, plant and equipment, net and operating lease ROU assets 236,887 239,874
Israel    
Property, plant and equipment, net and operating lease ROU assets    
Property, plant and equipment, net and operating lease ROU assets 73,248 74,403
Brazil    
Property, plant and equipment, net and operating lease ROU assets    
Property, plant and equipment, net and operating lease ROU assets 35,244 34,504
Ireland    
Property, plant and equipment, net and operating lease ROU assets    
Property, plant and equipment, net and operating lease ROU assets 27,432 25,141
Other    
Property, plant and equipment, net and operating lease ROU assets    
Property, plant and equipment, net and operating lease ROU assets $ 21,986 $ 22,107