ZTS Zoetis Inc

By Matt Grossman

Zoetis Inc. on Tuesday recorded greater sales and earnings in its latest quarter as better results for its pet products offset weakness in livestock-related revenue.

The Parsippany, N.J.-based veterinary-medicine company logged earnings of 87 cents a share, up from 75 cents a share a year earlier. Net income improved to $414 million, from $359 million.

Adjusted earnings were $1 a share. Analysts polled by FactSet had forecast adjusted earnings of 96 cents a share.

Sales grew 9% to $1.97 billion. Analysts were expecting revenue of $1.93 billion.

In the U.S., sales of products for pets were up 20% year over year, while sales of livestock products declined by 13%. Cattle products were down because of generic competition for one drug and because of weakness in consumer beef and dairy markets, Zoetis said.

Poultry sales fell amid generic competition and lower-cost alternatives for Zoamix, an antibiotics alternative. Pricing pressure also brought down sales of swine products.

Internationally, pet-product sales outpaced livestock business.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

February 15, 2022 07:27 ET (12:27 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.