Zoetis Boosts Annual Outlook Above View

(RTTNews) - Zoetis Inc. (ZTS), a maker of medicine and vaccinations for pets and livestock, on Monday revised up its annual guidance above analysts' estimates, citing strong third-quarter result.

For the full year, the company now expects adjusted earnings of $2.670 billion or $5.86 per share to $2.695 billion or $5.92 per share, compared with the prior outlook of $2.640 billion or $5.78 per share to $2.690 billion or $5.88 per share.

On average, 18 analysts, polled by Thomson Reuters forecast the firm to earn $5.82 per share. Analysts' estimates typically exclude special items.

Annual revenue is now anticipated to be $9.200 billion to $9.300 billion, higher than the prior expectation of $9.100 billion to $9.250 billion. Analysts, on average project the company to post revenue of $9.19 billion.

Excluding items, research and development expenses are now anticipated to be $665 million to $675 million as against earlier guidance of $660 million to $670 million.