A bit of a mixed quarter for Zoetis, but there are definitely some positives in here! Revenue came in at $2.39 billion, down 1% year on year. Net income also fell 18%, so it’s not all sunshine and rainbows. But looking a little deeper… 🐶 Companion animal revenue was down 5%, with the US particularly weak at -8%. 🐄 Livestock revenue was up 7%, which is helping balance things out. 🌍 International revenue grew 4%, another positive. One thing I do like is that Zoetis has actually raised its full-year adjusted EPS guidance to $6.25–$6.35. Adjusted EPS for the quarter was $1.75, up 3%, and for the first nine months of the year it’s now at $5.14 compared with $4.89 last year. They’re also continuing to bring new products to market and expand their portfolio, which is something I like to see from a business investing in its future. It’s definitely not a perfect set of results, and I’ll be keeping an eye on the weakness in companion animal sales. But I still like the long-term potential of animal healthcare. It’s an industry I think has plenty of room to grow. Not the strongest quarter, but I’m not writing Zoetis off just yet. 👀🐾
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1 Comments
Nate
@hoodnate · 50m
livestock up 7% while companion animal fell is such a weird split, glad they raised guidance.
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