Zoetis Lowers Fiscal Year Revenue Outlook, Raises Profit Guidance
08 Août 2023 - 2:20PM
Dow Jones News
By Emon Reiser
Zoetis updated its full-year guidance with a lower range for its
revenue and a higher range for its net income.
As it reported its second-quarter results for the period ended
June 30, the veterinary-drug maker said its revenue for the full
fiscal year is expected to be between $8.5 billion and $8.65
billion, down from its previous guidance $8.575 billion to $8.725
billion that it had expected in the first quarter.
Zoetis expects its 2023 net income to be between $2.4 billion
and $2.46 billion, a higher range compared with its previous
full-year guidance of between $2.345 billion and $2.4 billion.
Its full-year earnings per share are expected to be between
$5.15 and $5.27 a share, up from its previous full-year guidance of
between $5.03 and $5.14 a share.
Adjusted earnings are expected to be $5.37 to $5.47 a share, up
from its previous full-year guidance of between $5.34 and $5.44 a
share.
Zoetis reported sales and revenue above analysts estimates in
the second quarter as its companion pet business grew.
Write to Emon Reiser at emon.reiser@wsj.com
(END) Dow Jones Newswires
August 08, 2023 08:05 ET (12:05 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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