Zoetis (NYSE: ZTS) reported Q2 adjusted EPS of $0.43, $0.05 better than the analyst estimate of $0.38. Revenue for the quarter came in at $1.2 billion versus the consensus estimate of $1.12 billion.

Zoetis sees FY2015 EPS of $1.63-$1.68, versus the consensus of $1.66. Zoetis sees FY2015 revenue of $4.7-4.775 billion, versus the consensus of $1.74 billion.

“In the second quarter, we generated operational revenue growth of 11% based on the strength and diversity of our business. Our adjusted net income grew 20% operationally, and we continue delivering our long-term value proposition to shareholders -- growing adjusted net income faster than sales,” said Zoetis Chief Executive Officer Juan Ramón Alaix. “The growth this quarter was driven by the positive performance of our portfolio in both companion animal and livestock products, the addition of Abbott Animal Health products, the growth of APOQUEL® and other new products, and the continued discipline on operating expenses.”

“Our broad portfolio, proven business model and dedicated Zoetis colleagues enabled us to deliver these results as we began implementing significant changes to become more competitive and profitable,” said Alaix. “We remain committed to maintaining our commercial, R&D and manufacturing strengths, while reducing complexity in our business and achieving our efficiency goals.”

“With our operational efficiency initiative, we have begun the process to re-shape our business around the key products, markets and manufacturing sites that will make us an even stronger and more profitable leader in animal health. Execution of these plans is underway,” said Zoetis Chief Financial Officer Paul Herendeen. “We are pleased to see continued efficiency and expense control in this quarter’s results, along with excellent sales growth, and we are updating our full year guidance for 2015 and reaffirming our long-term goals for 2016 and 2017.”

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