Zoetis 1Q Beats Analyst Views
By Michael Dabaie
Zoetis Inc. reported first-quarter earnings and revenue above
The animal health company reported first-quarter revenue of
$1.87 billion, up from $1.53 billion in the year ago period and
above the FactSet consensus forecast of analysts for $1.72
Net income attributable to Zoetis was $559 million, up from $423
million a year earlier.
Earnings per share were $1.17 for the quarter, up from 88
The company reported adjusted EPS of $1.26, beating the FactSet
consensus for $1.04.
Revenue in the U.S. segment was $933 million, up 19% on year.
Sales of companion animal products increased 32%, driven by growth
in its parasiticides portfolio, the company said.
Revenue in the international segment was $922 million, up 27% on
a reported basis.
Zoetis boosted its 2021 revenue forecast to between $7.5 billion
and $7.63 billion. In February the company guided for 2021 revenue
of between $7.4 billion and $7.55 billion.
Zoetis forecast full-year earnings per share of $4.08 to $4.19,
versus earlier guidance of $4.02 to $4.14.
The company's new guidance for adjusted EPS is $4.42 to $4.51,
up from February's forecast of $4.36 to $4.46.
"Looking ahead, we are raising guidance for operational growth
in full-year revenue to the range of 10.5% to 12%. The fundamental
growth drivers for our industry continue to show strong and
sustainable momentum, and we remain confident that our diverse
portfolio across species and geographies, our pipeline of
innovative new products and lifecycle innovations, and the agility
and commitment of our colleagues will continue driving our success
in 2021 and beyond," Chief Executive Kristin Peck said.
Write to Michael Dabaie at email@example.com
(END) Dow Jones Newswires
May 06, 2021 09:05 ET (13:05 GMT)
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