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Chick-News.com Poultry Industry News, Comments and more by Simon M. Shane

Zoetis Reports on Q2 of FY 2019

08/09/2019

In a press release dated August 6th Zoetis Inc. announced results for the 2nd Quarter of Fiscal 2019 ending June 30 th.

The following table summarizes the results for the period compared with the values for the corresponding quarter of the previous fiscal year (Values expressed as $ x 1,000 except EPS)

 

 

 

2nd Quarter Ending June 30th

2019

2018

Difference (%)

Sales:

$1,547,000

$1,415,000

+9.3

Gross profit:

$1,082,000

$968,000

+11.8

Operating income:

$565,000

$507,000

+11.4

Pre-tax Income

Net Income

$455,000

$371,000

$437,000

$384,000

+4.1

-3.3

Diluted earnings per share:

$0.77

$0.79

-2.5

Gross Margin (%)

69.9

68.4

+1.5

Operating Margin (%)

36.5

35.8

+2.0

Profit Margin (%)

23.9

27.1

-11.8

Long-term Debt:

$6,446,000

$6,443,000

+1.9

12 Months Trailing:

     

Return on Assets (%)

12.6

   

Return on Equity (%)

62.6

   

Operating Margin (%)

32.6

   

Profit Margin (%)

22.7

   

Total Assets

$10,986,000

$10,777,000

<+0.1

Market Capitalization

$61,350,000

   

52-Week Range in Share Price: $78.90 to $ 125.86

Market Close Tuesday 6th $112.66 . Post-release close Wednesday 7th $121.11

Forward P/E 32.0 Beta 0.7

Of $1,547 million in sales the Companion Animals segment represented 51 percent compared to Livestock at 48 percent.

U.S. sales represented 50 percent of sales with livestock 36 percent of U.S sales.

Poultry products including Inovoject™ revenue, vaccines, diagnostics and medication represented 20 percent of global livestock sales.

In commenting on results Juan Ramón Alaix, CEO stated "we continued our strong performance through the first half of the year, with 14% operational revenue growth in the second quarter," He added. "our companion animal portfolio is continuing its positive momentum, with 22% operational revenue growth, based on diagnostic sales from the Abaxis acquisition, strong sales of our key dermatology products, and parasiticides. Livestock product sales returned to growth in the second quarter at 3% operationally, with increases across all species."

He concluded "we remain confident that our latest innovations combined with our core business will spur future growth and profitability, and I am pleased to report that we have increased our full-year guidance for 2019," said Alaix.

The Quarterly Report indicated projected 2019 revenue of $6,175 million to $6,275 million and an EPS range of $2.93 to $3.04.


 
Copyright 2019 Simon M. Shane