Sign InZoetis Q1 Earnings Beat Expectations
Alex Vellor
Zoetis (NYSE: ZTS), a leading animal healthcare company, outperformed Wall Street's profit forecasts in its first quarter, primarily driven by robust demand for its pet products. The company reported an adjusted profit of $1.38 per share, topping analysts' predictions of $1.34 per share. This performance was underpinned by a significant 18% revenue increase in its companion animal segment, which generated $1.45 billion.
First-quarter revenues reached $2.19 billion, exceeding the expected $2.13 billion. This surge reflects strong sales of flea, tick, and heartworm preventatives, as well as pet pain management products. Following the report, Zoetis shares climbed 4% in premarket trading to $163.52.
Despite this success, Zoetis has slightly lowered its full-year profit outlook to between $5.71 and $5.81 per share from the previously projected range of $5.74 to $5.84.
| Metric | Result | Change |
|---|---|---|
| Reported Revenue | $2.19 billion | 10% increase year-over-year |
| Net Income | $599 million | 9% increase year-over-year |
| Diluted EPS | $1.31 | 10% increase compared to the same period last year |
| Adjusted Net Income | $634 million | |
| Adjusted Diluted EPS | $1.38 | |
| Full Year 2024 Revenue Guidance | $9.050 - $9.200 billion | |
| Operational Revenue Growth | 8.5% to 10.5% for 2024 | |
| Operational Growth in Adjusted Net Income | 13% to 15% for the full year |
About The Author
Alex Vellor
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