Zoetis Cuts 2022 Earnings, Revenue View on Foreign-Exchange Impact

By Rob Curran

Zoetis Inc. cut its projection for full-year earnings and revenue growth, citing the impact of foreign-exchange volatility.

The animal-medicine company, spun off by Pfizer Inc. in 2013, lowered its 2022 earnings projection to $4.65 to $4.77 a share from a previous range of $4.75 to $4.87 a share.

Excluding certain items, Zoetis is now targeting full-year adjusted earnings of $4.99 to $5.09 a share, down from its previous projection of $5.09 to $5.19 a share.

Zoetis now expects revenue for the year between $8.225 billion and $8.375 billion, down from a prior target of $8.33 billion to $8.48 billion.

Currencies have fluctuated in recent months because of central-bank moves, inflation fears and the war in Ukraine.

Write to Rob Curran at rob.curran@wsj.com

(END) Dow Jones Newswires

May 05, 2022 07:44 ET (11:44 GMT)

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