Zoetis Guides Trims FY22 Outlook; Q2 Profit Down 3%

(RTTNews) - While reporting financial results for the second quarter on Thursday, animal health company Zoetis Inc. (ZTS) trimmed its earnings and revenue guidance for the full year 2022.

For fiscal 2022, the company now projects earnings in a range of $4.65 to $4.75 per share and adjusted earnings in a range of $4.97 to $5.05 per share on revenues between $8.225 billion and $8.325 billion.

Previously, the company expected earnings in the range of $4.65 to $4.77 per share and adjusted earnings in the range of $4.99 to $5.09 per share on revenues between $8.225 billion and $8.375 billion.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $8.29 billion for the year.

For the second quarter, the company reported net income attributable to Zoetis of $529 million or $1.12 per share, up from $512 million or $1.07 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter were $1.20 per share, compared to $1.19 per share in the year-ago quarter.

Revenue for the quarter grew 5 percent to $2.05 billion from $1.95 billion in the same quarter last year. The Street was looking for revenues of $2.04 billion for the quarter.

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