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
ZTS49.99-0.27
PFE36.78+0.04

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
    1.3567-0.0044-0.32%
    USDSGD=X
    1.4920-0.0043-0.29%
    EURSGD=X
    1.7833-0.0042-0.23%
    GBPSGD=X
    76.8330-0.854-1.10%
    SGDJPY=X
    5.7149+0.0199+0.35%
    SGDHKD=X
    2.9980-0.0011-0.04%
    SGDMYR=X
    9,681.9277+32.3105+0.33%
    SGDIDR=X
    4.9208+0.0152+0.31%
    SGDCNY=X
    1.0224+0.0055+0.54%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,319.40-0.10-0.01%
    GCQ16.CMX
    19.69+0.05+0.24%
    SIU16.CMX
    99.89-3.85-3.71%
    ^XAU
    2.21-0.01-0.36%
    HGU16.CMX
    42.57-0.56-1.30%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.14+0.02
    ^FVX
    1.570.00
    ^TNX
    2.290.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.165-0.003-1.79%
    N21.SI
    0.495+0.055+12.50%
    5TP.SI
    1.035+0.030+2.99%
    Y92.SI
    0.365+0.005+1.39%
    E5H.SI
    0.775-0.025-3.13%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.235+0.030+14.63%
    BOU.SI
    0.29+0.03+13.73%
    S71.SI
    0.445+0.050+12.66%
    BHU.SI
    0.495+0.055+12.50%
    5TP.SI
    0.24+0.02+11.63%
    S46.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.161-0.089-35.60%
    BFT.SI
    0.19-0.03-13.64%
    BDN.SI
    0.16-0.02-9.60%
    O08.SI
    0.20-0.02-9.09%
    BLZ.SI
    0.106-0.010-8.62%
    BEH.SI