WASHINGTON (dpa-AFX) - (Adds Outlook)
Zoetis Inc. (ZTS) reported earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.
The company's earnings came in at $461 million, or $0.99 per share. This compares with $414 million, or $0.87 per share, in last year's fourth quarter.
Excluding items, Zoetis Inc. reported adjusted earnings of $539 million or $1.15 per share for the period.
Analysts on average had expected the company to earn $1.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 3.6% to $2.04 billion from $1.97 billion last year.
Outlook:
Looking ahead, for the fiscal 2023, Zoetis expects to post net income of $2.345 billion - $2.400 billion or $5.03 - $5.14 per share. For the full-year, the company projects adjusted income per share of $5.34 - $5.44. Fifteen analysts, on average, polled by Thomson Reuters project the company to earn $5.33 per share, for the year. Analysts' estimates typically exclude special items.
The animal health company projects revenue of $8.575 billion - $8.725 billion. Analysts, on average, project the company to record revenue of $8.57 billion, for the year.
Zoetis Inc. Q4 earnings at a glance (GAAP) :
-Earnings (Q4): $461 Mln. vs. $414 Mln. last year. -EPS (Q4): $0.99 vs. $0.87 last year. -Analyst Estimate: $1.05 -Revenue (Q4): $2.04 Bln vs. $1.97 Bln last year.
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