ZTS Zoetis Inc

   By Anne Steele 
 

Zoetis Inc. lowered its revenue and earnings outlook for the year on currency challenges, though the top and bottom lines grew in the latest quarter.

For 2017, the company, which makes vaccines and treatments for livestock and household pets, now expects adjusted per-share earnings of $2.26 to $2.36, compared with prior guidance for between $2.28 and $2.38, to reflect changes in foreign exchange rates. And Zoetis now anticipates revenue of $5.1 billion to $5.22 billion. The company had previously guided for revenue of $5.15 billion to $5.275 billion.

Chief Executive Juan Ramon Alaix said the company delivered its fourth consecutive year of operational revenue growth and improved profitability since becoming a public company. Zoetis was spun off from Pfizer Inc. in 2013.

For the December quarter, Zoetis earned $154 million, or 31 cents a share, up from $22 million, or 4 cents a share, a year prior. Excluding certain items, adjusted earnings were 47 cents a share, up from 43 cents. Revenue edged 0.2% higher to $1.28 billion.

Analysts polled by Thomson Reuters had expected 45 cents in adjusted earnings per share on $1.27 billion in revenue.

Livestock sales slipped 1.6% to $790 million while companion animal sales climbed 4.4% to $477 million.

Shares, inactive premarket, have risen 36% over the past 12 months.

Write to Anne Steele at anne.steele@wsj.com.

(END) Dow Jones Newswires

February 16, 2017 08:01 ET (13:01 GMT)

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