Animal Health Firm Zoetis Clocks Strong Q2 Earnings, Companion Animal Operations Boost Confidence For 2024
Portfolio Pulse from Vandana Singh
Zoetis Inc (NYSE:ZTS) reported strong Q2 earnings, with revenue of $2.36 billion, up 8% YoY, and raised its 2024 guidance. The company's companion animal operations, particularly monoclonal antibody products for osteoarthritis pain, drove growth. Adjusted net income was $711 million, or $1.56 per share, beating consensus estimates. Zoetis raised its 2024 sales guidance to $9.1-$9.25 billion and adjusted EPS to $5.78-$5.88.
August 06, 2024 | 5:00 pm
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Zoetis Inc reported strong Q2 earnings, with revenue of $2.36 billion, up 8% YoY, and raised its 2024 guidance. The company's companion animal operations, particularly monoclonal antibody products for osteoarthritis pain, drove growth. Adjusted net income was $711 million, or $1.56 per share, beating consensus estimates. Zoetis raised its 2024 sales guidance to $9.1-$9.25 billion and adjusted EPS to $5.78-$5.88.
Zoetis reported better-than-expected Q2 earnings and raised its 2024 guidance, which is likely to positively impact the stock price in the short term. The strong performance in companion animal products and the raised guidance indicate continued growth and investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100