Animal health company Zoetis Inc. (ZTS), a publicly traded subsidiary of Pfizer (PFE), reported early on Tuesday a 26% increase in first quarter profits on 4% higher revenues. Results were able to top Wall Street estimates.
The Madison, New Jersey-based company posted a first quarter net income of $140 million, or 28 cents per share, up from $111 million, or 22 cents per share, a year ago.
Adjusted earnings per share for the quarter were 36 cents versus the adjusted EPS of 30 cents last year. According to analyst polled by Thomson Reuters, the company was expected to earn 33 cents per share in the quarter.
Zoetis’ revenue grew 4% to $1.09 billion in the quarter. Analysts were expecting revenues of $1.08 billion.
Juan Ramón Alaix, CEO of Zoetis, said, “During the first quarter, we reported operational sales growth across all of our regions, reflecting global demand for our diverse portfolio of livestock and companion animal health products.”
Looking ahead, the company is expecting to earn between $1.36 and $1.42 per share on an adjusted basis in 2013. Revenue is expected to be between $4.425 billion and $4.525 billion. Analysts expect the company to earn $1.38 per share on revenues of $4.53 billion in 2013.
Zoetis shares were up $1.38, or +4.05%, during Tuesday morning trading. The stock is up +5.32% since its initial public offering in February.
The Bottom Line
Shares of Zoetis (ZTS) have a dividend yield of 0.76% based on Tuesday’s intraday trading price of $34.04 and the company’s annualized dividend payout of 26 cents per share.
Zoetis Inc. (ZTS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here