Zoetis (NYSE: ZTS) reported Q1 EPS of $0.88, $0.09 better than the analyst estimate of $0.79. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.45 billion.

• Reports Revenue of $1.5 Billion, Growing 7%, and Net Income of $312 Million, or $0.65 per Diluted Share, Decreasing 11% and 10%, respectively, on a Reported Basis for First Quarter 2019
• Reports Adjusted Net Income of $424 Million, or Adjusted Diluted EPS of $0.88, for First Quarter 2019
• Delivers 11% Operational Growth in Revenue and 18% Operational Growth in Adjusted Net Income for First Quarter 2019
• Updates Full Year 2019 Revenue Guidance to $6.100 - $6.225 Billion and Diluted EPS of $2.79 - $2.93 on a Reported Basis, or $3.42 - $3.52 on an Adjusted Basis

“We are off to a solid start for the year, with 11% operational growth in the first quarter,” said Juan Ramόn Alaix, Chief Executive Officer at Zoetis. “Our companion animal portfolio is leading the way, driven by diagnostic sales from the acquisition of Abaxis, as well as strong global sales of our parasiticides and key dermatology products. We were able to achieve double-digit growth this quarter, even as we faced challenges in certain swine and cattle markets. This quarter’s performance once again highlights the benefits of our diverse product portfolio, which we believe provides long-term stability to our business in this dynamic and global industry.”

“Despite these temporary challenges, we remain confident in our projections for the year, and we are maintaining our guidance for operational revenue growth and adjusted EPS targets,” said Alaix.

GUIDANCE:

Zoetis sees FY2019 EPS of $3.42-$3.52, versus the consensus of $3.47. Zoetis sees FY2019 revenue of $6.1-6.225 billion, versus the consensus of $6.26 billion.

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