Written by StockNews.com
Zoetis Inc. (NYSE: ZTS) early Thursday posted market-beating first quarter earnings results and reaffirmed its full-year outlook, as demand for its animal vaccines remains robust.
The Parsippany, NJ-based animal health specialist reported Q1:
- earnings per share (EPS) of $0.53, which was $0.05 better than the Wall Street consensus estimate of $0.48 [and that]
- revenues rose 5.9% from last year to $1.23 billion, narrowly beating analysts’ view for $1.2 billion.
Looking ahead, ZTS:
- reiterated its full-year 2017 EPS outlook for $2.26 to $2.36, which is in-line with analyst expectations for $2.32 [and]
- sees 2017 revenues still seen between $5.10 and $5.225 billion, straddling Wall Street’s $5.17 billion view.
Glenn David, Executive Vice President and Chief Financial Officer, commented via press release:
“As costs for our one-time initiatives are largely complete, we were able to deliver 17% growth in reported EPS and continue to focus our investments on the ongoing business
We see a good runway for continued growth, based on our diverse portfolio and recently launched products, and we are reaffirming our full-year 2017 guidance.”
Zoetis Inc shares were unchanged in premarket trading Thursday. Year-to-date, ZTS has gained 4.26%, versus a 7.15% rise in the benchmark S&P 500 index during the same period.
ZTS currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #8 of 135 stocks in the Medical – Pharmaceuticals category.
.webp)
Comments
Log in or sign up to join the conversation.