Zoetis Boosts FY20 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, animal health company Zoetis Inc. (ZTS) raised its earnings, adjusted earnings and revenue guidance for the full year 2020 to reflect strong performance over the past nine months.

"Looking ahead, we continue to see future growth being driven by companion animal products, particularly Simparica Trio and the expansion of our other parasiticides and key dermatology portfolio," said Kristin Peck, Chief Executive Officer.

For fiscal 2020, the company now projects earnings in a range of $3.38 to $3.45 per share and adjusted earnings in a range of $3.76 to $3.81 per share on revenues between $6.550 billion and $6.625 billion.

Previously, the company expected earnings in the range of $3.14 to $3.32 per share and adjusted earnings in the range of $3.52 to $3.68 per share on revenues between $6.300 billion and $6.475 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.64 per share on revenues of $6.43 billion for the year. Analysts' estimates typically exclude special items.