Zoetis: 4Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ Zoetis Inc. (ZTS) on Thursday reported fourth-quarter net income of $345 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had profit of 71 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 79 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The animal health company posted revenue of $1.56 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.52 billion.
For the year, the company reported profit of $1.43 billion, or $2.93 per share. Revenue was reported as $5.83 billion.
Zoetis expects full-year earnings in the range of $3.42 to $3.52 per share, with revenue in the range of $6.18 billion to $6.3 billion.
Zoetis shares have risen 3 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased almost 10 percent. The stock has risen 20 percent in the last 12 months.