Zoetis beats by $0.03, beats on revs; raises FY17 EPS mostly above consensus, revs above consensus
- Reports Q3 (Sep) earnings of $0.65 per share, excluding non-recurring items, $0.03 better thanthe Capital IQ Consensus of $0.62; revenues rose 8.5% year/year to $1.35 bln vs the $1.32 bln Capital IQ Consensus.
- "As expected, in the third quarter, our focus on cost of goods and expenses enabled us to improve our margins and grow adjusted earnings significantly faster than sales," said Glenn David, Executive Vice President and Chief Financial Officer at Zoetis. "With one quarter left in 2017, we are raising our full year guidance for revenue and net income, and we expect to continue delivering steady, profitable growth based on the performance of our diverse portfolio and investments in innovation."
- Co issues guidance for FY17, sees EPS of $2.34-$2.39, excluding non-recurring items, vs. $2.34 Capital IQ Consensus Estimate and prior guidance of $2.30-$2.37; sees FY17 revs of $5.225-$5.275 bln vs. $5.2 bln Capital IQ Consensus Estimate and prior guidance of $5.15-$5.25 bln.
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