Zoetis: 2Q Earnings Snapshot
PARSIPPANY, N.J. (AP) _ Zoetis Inc. (ZTS) on Tuesday reported second-quarter earnings of $371 million.
On a per-share basis, the Parsippany, New Jersey-based company said it had profit of 77 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 90 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The animal health company posted revenue of $1.55 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.52 billion.
Zoetis expects full-year earnings in the range of $2.93 to $3.04 per share, with revenue in the range of $6.18 billion to $6.28 billion.
Zoetis shares have risen 32% since the beginning of the year, while the Standard & Poor’s 500 index has risen 13%. The stock has climbed 23% in the last 12 months.