Zoetis (ZTS) Tops Q1 EPS by 7c; Issues Solid Outlook

Zoetis (NYSE: ZTS) reported Q1 EPS of $0.48, $0.07 better than the analyst estimate of $0.41. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.1 billion.

GUIDANCE:

Zoetis sees FY2016 EPS of $1.83-$1.90, versus the consensus of $1.79. Zoetis sees FY2016 revenue of $4.775-4.875 billion, versus the consensus of $4.75 billion.

Zoetis sees FY2017 EPS of $2.24-$2.38, versus the consensus of $2.26. Zoetis sees FY2017 revenue of $5.075-5.275 billion, versus the consensus of $5.06 billion.

“Zoetis delivered solid operational revenue growth in the first quarter, with the full benefit of our diverse portfolio and business model on display. The growth in companion animal products drove our performance, while we experienced softer growth in our livestock products and a negative impact from the product rationalization and market changes in Venezuela and India that we communicated last year,” said Zoetis Chief Executive Officer Juan Ramón Alaix. “Our core capabilities in direct customer interaction, R&D and manufacturing keep us well-positioned to lead the animal health industry.”

“The execution of our operational efficiency program continues to help us grow adjusted net income faster than sales, and we are on track to exceed our initial targets,” said Alaix. “With improved foreign exchange rates and the positive momentum of the business, we are increasing our adjusted diluted EPS guidance for 2016 and 2017.”

For earnings history and earnings-related data on Zoetis (ZTS) click here.

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