(Reuters) -Zoetis raised annual forecast and beat second-quarter estimates on Tuesday, driven by strong demand for its medicines and vaccines for pets, sending the animal healthcare company’s shares surging about 9% in premarket trading.<\/p>\n
Analysts remain optimistic about the long-term prospects for the animal health industry, citing a rebound in veterinary clinic visits over the coming years as pet ownership grows and aging animals require chronic care treatments.<\/p>\n
The New Jersey-based company expects 2025 revenue to be between $9.45 billion and $9.60 billion, compared with its earlier range of $9.43 billion to $9.58 billion.<\/p>\n
It also raised its forecast for annual adjusted profit per share to between $6.30 and $6.40, from $6.20 to $6.30 projected earlier.<\/p>\n
Analysts on average were expecting annual revenue of $9.50 billion and earnings of $6.24 per share, according to data compiled by LSEG.<\/p>\n
Zoetis said its updated forecast reflects foreign exchange rates and the impact of enacted and assumptions on announced tariffs.<\/p>\n
During the quarter ended June 30, the company’s companion animal segment, which includes treatments for dogs and cats, posted an 8% increase in revenue to $1.79 billion.<\/p>\n
The growth was driven by robust sales of its flea, tick and heartworm combination product Simparica Trio, and its pain and dermatology drugs such as Librela, Solensia, Apoquel and Cytopoint.<\/p>\n
Zoetis’ adjusted earnings of $1.76 per share came in above the consensus estimate of $1.62 per share.<\/p>\n
Its quarterly revenue rose 4% to $2.46 billion, compared with the estimate of $2.41 billion.<\/p>\n
(Reporting by Kamal Choudhury in Bengaluru; Editing by Shilpi Majumdar)<\/p>\n","protected":false},"excerpt":{"rendered":"(Reuters) -Zoetis raised annual forecast and beat second-quarter estimates on Tuesday, driven by strong demand for its medicines…\n","protected":false},"author":2,"featured_media":45477,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[64,63,6169,137,500,31396,39508],"class_list":["post-45476","post","type-post","status-publish","format-standard","has-post-thumbnail","category-healthcare","tag-au","tag-australia","tag-forecast","tag-health","tag-healthcare","tag-healthcare-company","tag-zoetis"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/45476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=45476"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/45476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/45477"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=45476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=45476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=45476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}