PetIQ: 3Q Earnings Snapshot
EAGLE, Idaho (AP) _ PetIQ Inc. (PETQ) on Tuesday reported third-quarter net income of $2.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Eagle, Idaho-based company said it had profit of 13 cents. Earnings, adjusted for non-recurring costs, were 47 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The pet medications and products maker posted revenue of $131.4 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $125.1 million.
PetIQ shares have increased 43 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $31.27, a climb of 73 percent in the last 12 months.