Zoetis Inc (NYSE:ZTS) stock fell 0.060% (As on February 14, 11:38:25 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 23. Revenue in the U.S. segment was $1.2 billion, an increase of 9% compared with the fourth quarter of 2022. Sales of companion animal products increased 10%, driven by the company’s monoclonal antibody (mAb) products for osteoarthritis (OA) pain, Librela for dogs and Solensia for cats, as well as the company’s flea, tick and heartworm combination product for dogs, Simparica Trio. Also contributing to growth in the quarter was the company’s dermatology portfolio, including Apoquel and Cytopoint. Sales of livestock products increased 4% in the quarter. Revenue in the International segment was $982 million, reflecting a 9% increase on a reported basis and an increase of 8% operationally compared with the fourth quarter of 2022. Sales of companion animal products grew 13% on a reported basis and 10% operationally. Growth in the quarter was driven by the company’s monoclonal antibody products for OA pain, Librela for dogs and Solensia for cats, as well as key dermatology products, Apoquel and Cytopoint. Also contributing to growth in the quarter were Simparica and Simparica Trio. Sales of livestock products increased 5% on a reported basis and 7% operationally. Growth in both the company’s cattle and poultry product portfolios were driven largely by price increases across the broader international segment.

Moreover, Zoetis continues to advance innovation and care for animals across the globe. On the livestock side of the business, Zoetis received approval in Mexico for Poulvac® Procerta® HVT-IBD-ND, a part of the company’s recombinant vector vaccine portfolio for poultry, which provides early, robust protection against Marek’s, infectious bursal and Newcastle disease viruses with one dose.

ZTS in the fourth quarter of FY 23 has reported the adjusted earnings per share of $1.24, missing the analysts’ estimates for the adjusted earnings per share of $1.32. The company had reported the adjusted revenue growth of 8 percent to $2.2 billion in the fourth quarter of FY 23, beating the analysts’ estimates for revenue of $2.19 billion.

Zoetis Inc sees FY 2024 EPS to be in the range of $5.74-$5.84 versus the analyst consensus of $5.99. Zoetis Inc sees FY 2024 revenue to be in the range of $9.08B-$9.23B versus the analyst consensus of $9.21B and Adjusted net income between $2.650 billion to $2.700 billion (operational growth of 9% to 11%)