Zoetis Inc. (NYSE: ZTS) said on Tuesday that its revenue in the fiscal fourth quarter saw an 8% annualised growth to £1.29 billion. Its net income in Q4 stood at £258.21 million that translates to 53.94 pence per diluted share. On an adjusted basis, Zoetis earned 65.45 pence per diluted share in the fourth quarter.
Zoetis shares closed the regular session about 1% down on Tuesday. The stock is now trading at £120 per share after recovering from a low of £67 per share in the last week of March 2020 when the impact of COVID-19 was at its peak. Learn more about stock market volatility.
Zoetis’ financial performance in fiscal 2020
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For fiscal 2020 as a whole, the American drug company posted £4.82 billion of revenue that represents a 7% year over year increase. Its full-year net income printed at £1.15 billion or £2.46 per diluted share. Zoetis recorded £2.77 of annual diluted per-share earnings on an adjusted basis on Tuesday.
The world’s largest producer of medicine and vaccinations for pets and livestock said that it expects its revenue to fall in the range of £5.32 billion to £5.43 billion in fiscal 2021. Its estimate for adjusted per-share earnings stands at up to £3.21 this year.
In an announcement last month, Zoetis said that it scored 100% on 2021 Corporate Equality Index.
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CEO Kristin Peck’s comments on Tuesday
Chief Executive Kristin Peck commented on the earnings report on Tuesday and said:
“Looking forward, we believe this momentum sets us up for a strong 2021, even amidst ongoing COVID-19 uncertainty. We expect to continue growing revenue faster than the market in 2021 driven by continued strength in pet care; ongoing expansion in markets outside the United States, most notably China; and acceleration of our diagnostics portfolio penetration. As a result, we are guiding to full-year operational growth of 9% to 11% in revenue.”
The Coronavirus pandemic has so far infected more than 28 million people in the U.S. and caused a little under half a million deaths. In separate news from the United States, CVS Health Corp also reported its quarterly financial results on Tuesday.
Zoetis performed fairly upbeat in the stock market last year with an annual gain of close to 20%. At the time of writing, the New Jersey-based company is valued at £56.86 billion and has a price to earnings ratio of 47.76.