Zoetis Updates 2016 Revenue Guidance - Quick Facts

(RTTNews) - Zoetis Inc. (ZTS) updated its revenue guidance for full year 2016 and 2017, and reaffirmed adjusted EPS guidance for both fiscal years. For 2016, the company now expects: revenue of between $4.650 billion to $4.775 billion; EPS of between $1.30 to $1.48; and adjusted EPS between $1.71 to $1.81. For 2017, the company expects: revenue of between $4.950 billion to $5.150 billion; EPS of between $1.95 to $2.13; and adjusted EPS between $2.18 to $2.32.

Net income for the fourth quarter of 2015 was $22 million, or $0.04 per share, a decrease of 83% and 84%, respectively, compared to the fourth quarter of 2014; the company said the significant decrease was primarily driven by charges related to changes in its accounting for operations in Venezuela. Adjusted net income for the fourth quarter of 2015 was $214 million, or $0.43 per share.

On average, 13 analysts polled by Thomson Reuters expected the company to report profit per share of $0.39 for the quarter. Analysts' estimates typically exclude special items.

The company reported revenue of $1.3 billion for the fourth quarter of 2015, a decrease of 3% from the fourth quarter of 2014. Revenue reflected an operational increase of 6%, excluding the impact of foreign currency. Analysts expected revenue of $1.25 billion for the quarter.