Zoetis 1Q earnings climb 11 pct, forecast backed

Zoetis 1st quarter earnings climb 11 pct, animal health business backs forecast for 2014

RELATED QUOTES

SymbolPriceChange
ZTS45.78-0.08
PFE32.66-0.60

FLORHAM PARK, N.J. (AP) -- Zoetis reported an 11 percent jump in first-quarter earnings as revenue growth at its North America animal health business offset a decline in the same business in Europe, Africa and the Middle East.

The Florham Park antibiotic and vaccine maker said Tuesday that livestock products helped U.S. revenue climb 6 percent to $479 million in the quarter, while Canada/Latin America revenue rose 10 percent to $168 million. Overall revenue grew only 1 percent to about $1.1 billion due to the impact of foreign exchange rates, the company said.

That fell short of analyst expectations for $1.13 billion in revenue, according to FactSet.

Zoetis earned $155 million, or 31 cents per share, which was up from $140 million, or 28 cents per share, last year.

Adjusted results totaled 38 cents, which beat average analyst expectations by a penny.

The company also said Tuesday that it reaffirmed its forecast for 2014 adjusted earnings of between $1.48 and $1.54 per share on revenue ranging from $4.65 billion to $4.75 billion.

Analysts forecast earnings of $1.52 per share on about $4.73 billion in revenue.

Zoetis Inc. is the former animal health business of Pfizer Inc., the world's second-largest drugmaker.

Zoetis shares fell 31 cents to $30.22 Tuesday morning while the Standard & Poor's 500 index also slipped.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.40880.000.00%
    USDSGD=X
    1.57510.000.00%
    EURSGD=X
    2.16840.000.00%
    GBPSGD=X
    86.40380.000.00%
    SGDJPY=X
    5.5020+0.0011+0.02%
    SGDHKD=X
    2.96130.000.00%
    SGDMYR=X
    10,015.67580.000.00%
    SGDIDR=X
    4.5355-0.0031-0.07%
    SGDCNY=X
    1.00940.000.00%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,133.40+10.80+0.96%
    GCZ15.CMX
    14.57+0.14+0.96%
    SIZ15.CMX
    48.82+1.99+4.24%
    ^XAU
    2.35+0.02+0.94%
    HGZ15.CMX
    45.26+2.70+6.34%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.52+0.04
    ^FVX
    2.19+0.02
    ^TNX
    2.91+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.122+0.008+7.02%
    5DN.SI
    0.520.00+0.97%
    N21.SI
    0.310.000.00%
    5WA.SI
    0.310.00+1.64%
    E5H.SI
    3.80-0.05-1.30%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.152+0.041+36.94%
    5MD.SI
    0.25+0.05+21.95%
    5NF.SI
    0.205+0.036+21.30%
    NO4.SI
    0.42+0.07+20.00%
    AZT.SI
    0.25+0.03+16.28%
    A7S.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.205-0.095-31.67%
    Y06.SI
    0.77-0.23-23.00%
    AXL.SI
    0.098-0.022-18.33%
    5UA.SI
    0.11-0.02-15.38%
    40R.SI
    0.101-0.017-14.41%
    T08.SI