However, the growth trend in revenues was partially offset by a decline in swine product revenues due to lower disease prevalence. Revenues from poultry products also increased, driven by the sales growth of vaccines and medicated feed additives. Sales of livestock products surged 5% year over year in the reported quarter, fueled by an increase in cattle product sales like Draxxin and implant product Synovex. Growth in the sales of Zoetis’ vaccine portfolio and Solensia, a monoclonal antibody product for osteoarthritis pain in cats, also contributed to the increased revenues in the second quarter. region rose 7% from the prior-year quarter’s level due to increased sales of the company’s key dermatology portfolio, including Apoqueland Cytopoint. Sales of companion animal products in the U.S. The reported figure beat our estimate of $1.156 billion in total U.S. segment increased 7% year over year to $1.165 billion in the second quarter, missing the Zacks Consensus Estimate of $1.174 billion. The company reports business results under two geographical operating segments - the United States and International. Zoetis derives the majority of its revenues from a diversified product portfolio of medicines and vaccines used to treat and protect livestock and companion animals. Total revenues grew 6% year over year to $2.2 billion, surpassing the Zacks Consensus Estimate of $2.17 billion in the reported quarter. In the year-ago quarter, the company delivered earnings of $1.20 per share. delivered second-quarter 2023 adjusted earnings (excluding one-time items) of $1.41 per share, which beat the Zacks Consensus Estimate of $1.32 per share. Zoetis’ Q2 Earnings and Revenues Surpass Estimates Will the recent negative trend continue leading up to its next earnings release, or is Zoetis due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Shares have lost about 1.3% in that time frame, underperforming the S&P 500. It has been about a month since the last earnings report for Zoetis ( ZTS Quick Quote ZTS - Free Report).
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