Zoetis (ZTS) Tops Q2 EPS by 11c; Raises Outlook

Zoetis (NYSE: ZTS) reported Q2 EPS of $1.19, $0.11 better than the analyst estimate of $1.08. Revenue for the quarter came in at $1.9 billion versus the consensus estimate of $1.82 billion.

"We achieved strong results once again this quarter with 22% operational revenue growth and 28% growth in adjusted net income, driven by our petcare parasiticides, key dermatology products, vaccines and diagnostics," said Kristin Peck, Chief Executive Officer of Zoetis. "Our triple combination parasiticide Simparica Trio® continues exceeding our launch expectations and strengthening our overall position in this competitive market, and we remain very positive about further uptake of our petcare innovations in monoclonal antibodies and diagnostics."

"We are raising guidance for revenue and adjusted net income for the full year to reflect our confidence in Zoetis and the underlying growth drivers of our business, even while we continue to expect more modest growth rates in the second half of 2021. We remain in a strong position to invest both internally and externally in the innovations, market expansion and direct-to-consumer promotions that can support future growth," said Peck.

GUIDANCE:

Zoetis sees FY2021 EPS of $4.47-$4.55, versus the consensus of $4.52. Zoetis sees FY2021 revenue of $7.625-7.7 billion, versus the consensus of $7.59 billion.

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

You May Also Be Interested In

• IBM tumbles on soft Q1 revenue; announces HashiCorp $6.4bn acquisition
• Bragar Eagel & Squire, P.C. Is Investigating Zoetis, and Morgan Stanley and Encourages Investors to Contact the Firm
• STMicro cuts FY revenue outlook as softer car demand weighs