Zoetis Reports Q2 Earnings Beat, Raises Guidance

Zoetis ZTS reported second-quarter earnings of 90 cents per share, which beat the analyst consensus estimate of 82 cents by 9.76%. This is a 16.88% increase over earnings of 77 cents per share from the same period last year.

The company reported quarterly sales of $1.547 billion, which beat the analyst consensus estimate of $1.52 billion by 1.78%. This is a 9.33% increase over sales of $1.415 billion the same period last year.

Zoetis raised fiscal year 2019 guidance EPS from $3.42-$3.52 to $3.53-$3.60 versus the $3.49 estimate. The company also adjusted its sales guidance from $6.1 billion-$6.225 billion to $6.175 billion- $6.275 billion vs $6.19 billion estimate.

"We continued our strong performance through the first half of the year, with 14% operational revenue growth in the second quarter," said CEO Juan Ramón Alaix. "Our companion animal portfolio is continuing its positive momentum, with 22% operational revenue growth, based on diagnostic sales from the Abaxis acquisition, strong sales of our key dermatology products, and parasiticides. Livestock product sales returned to growth in the second quarter at 3% operationally, with increases across all species."

Zoetis shares were trading up 0.6% at $113.25 in Tuesday’s pre-market session. The stock has a 52-week high of $117.03 and a 52-week low of $78.90.

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