Zoetis Inc. stock
soared 5% Tuesday, after the animal health company topped revenue estimates for the fourth quarter and offered upbeat guidance for 2023. Parsippany, N.J.-based Zoetis posted net income of $461 million, or 99 cents a share, for the quarter, up from $414 million, or 87 cents a share, in the year-earlier quarter. Adjusted per-share earnings came to $1.15m matching the FactSet consensus. Revenue rose 5% to $2.040 billion from $1.967 billion a year ago, ahead of the $2.003 billion FactSet consensus. Chief Executive Kristin Peck said revenue was boosted by demand for its parasiticides, dermatology and pain franchises. Revenue at the company’s U.S. segment rose 7% to $1.112 billion, while revenue at its international segment was flat at $901 million. The company is now expecting full-year adj. EPS of $5.35 to $5.44 on revenue of $8.575 billion to $8.725 billion. The FactSet consensus is for EPS of $5.40 and revenue of $8.556 billion. The stock has gained 17% in the year to date, while the S&P 500
has gained 7%.