FLORHAM PARK, New Jersey — Zoetis Inc. (ZTS) on Tuesday reported first-quarter earnings of $165 million.
On a per-share basis, the Florham Park, New Jersey-based company said it had profit of 33 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 41 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The animal health company posted revenue of $1.1 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $1.11 billion.
Zoetis expects full-year earnings in the range of $1.61 to $1.68 per share, with revenue in the range of $4.68 billion to $4.78 billion.
Zoetis shares have increased 5.5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 3 percent. The stock has increased 48 percent in the last 12 months.
Keywords: Zoetis, Earnings Report
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