Zoetis Stock Performance Soars on Record Revenue and Enhanced Projections
Thursday, 2 May 2024, 20:56
First-quarter growth in several product segments
For its first quarter, Zoetis earned revenue of $2.2 billion, which was a 10% improvement over the same period of 2023. Non-GAAP (adjusted) net income also headed north, by 4% year over year to $634 million ($1.38 per share).
- Both figures edged past the average analyst estimate.
- collectively, prognosticators following Zoetis stock were modeling $2.15 billion for revenue and $1.35 for adjusted, per-share net income.
2024 guidance lifted
Another factor in the company's successful Thursday was its raising of full-year 2024 guidance. The company is now forecasting it will book revenue of $9.05 billion to $9.2 billion for the period, filtering down into adjusted net income of $2.62 billion to $2.67 billion ($5.71 to $5.81 per share).
- The current analyst top-line and bottom-line estimate falls within this range, at $9.16 billion for revenue and $5.78 per share for adjusted net income.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.