2024

Strong

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<p class="has-drop-cap">Zoetis Inc. (NYSE: ZTS) announced <a href="https://investor.zoetis.com/financials/quarterly-results/default.aspx" target="_blank" aria-label="robust financial results (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">robust financial results</a> for the third quarter of 2024, showcasing significant growth in revenue and net income. The company reported a revenue of $2.4 billion, marking an 11% increase compared to the same period last year.</p> 
<p>Net income for the quarter reached $682 million, or $1.50 per diluted share, reflecting a 14% rise in net income and a 16% increase in <a href="https://tokenist.com/investing/how-to-value-a-stock/" rel="dofollow" class="deco-link">earnings per share</a> on a reported basis. The adjusted net income stood at $716 million, or $1.58 per diluted share, representing operational growth of 15% and 17%, respectively.</p> 
<p>The company attributed this growth to its strong performance in both the U.S. and international markets, driven by its diverse portfolio of products for companion animals and livestock. In the U.S. segment, revenue increased by 15% to $1.3 billion, with companion animal products experiencing an 18% rise.</p> 
<p>Internationally, revenue grew by 7% on a reported basis and 13% operationally, with companion animal sales increasing by 11% operationally. Zoetis’ companion animal and livestock portfolios both demonstrated impressive growth, with operational increases of 15% and 11%, respectively.</p> 
<h3 id="zoetis-surpasses-analyst-expectations-in-third-quarter-of-2024">Zoetis Surpasses Analyst Expectations in Third Quarter of 2024</h3> 
<p>Zoetis’ third-quarter performance exceeded market expectations in terms of both revenue and earnings per share (EPS). Analysts had anticipated an EPS of $1.46 and revenue of $2.29 billion. <br><br>However, the company surpassed these expectations by delivering an adjusted EPS of $1.58 and revenue of $2.4 billion. This outperformance was driven by strong sales of its monoclonal antibody products for osteoarthritis pain, such as Librela for dogs and Solensia for cats, as well as its flea, tick, and heartworm combination product, Simparica Trio.</p> 
<p>The company’s dermatology portfolio, including Apoquel and Cytopoint, also contributed to the positive results. Zoetis’ livestock products saw a 5% increase in sales, primarily due to improved supply of cattle products. Internationally, the growth was fueled by price increases and the timing of customer purchases, particularly in cattle and poultry products. The demand for fish vaccines in Norway further bolstered the company’s international performance.</p> 
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<h3 id="zoetis-raises-full-year-2024-guidance-for-revenue-and-eps">Zoetis Raises Full Year 2024 Guidance for Revenue and EPS</h3> 
<p>Following a strong third quarter, Zoetis has raised its full-year 2024 guidance for both revenue and adjusted EPS. The company now expects revenue to range between $9.2 billion and $9.3 billion, representing operational growth of 10% to 11%.</p> 
<p>Adjusted net income is projected to be between $2.670 billion and $2.695 billion, with adjusted diluted EPS ranging from $5.86 to $5.92. This updated guidance reflects the company’s confidence in its continued growth trajectory and its ability to capitalize on market opportunities.</p> 
<p>Zoetis’ guidance takes into account the impact of foreign exchange rates as of mid-October 2024. The company’s focus on its companion animal segment, particularly in the U.S. market, is expected to drive further growth. Additionally, Zoetis’ ongoing investments in innovation and product development are anticipated to support its long-term objectives.</p> 
<p>The company’s strategic initiatives, including the expansion of its India Capability Center and the divestiture of its medicated feed additive portfolio, demonstrate Zoetis’ commitment to optimizing its operations and focusing on high-growth areas. These efforts are expected to enhance the company’s competitive advantage and drive sustainable growth in the coming years.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe> 
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p> 
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<p>The post <a rel="nofollow" href="https://tokenist.com/zoetis-inc-reports-2-4b-revenue-in-strong-third-quarter-2024-performance/">Zoetis Inc. Reports $2.4B Revenue in Strong Third Quarter 2024 Performance</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Zoetis Inc. Reports $2.4B Revenue in Strong Third Quarter 2024 Performance

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