Zoetis Inc (NYSE:ZTS) stock rose 0.38% (As on February 15, 11:18:27 AM UTC-4, Source: Google Finance) after the company posted inline results for the fourth quarter of FY 22.  On an operational basis, revenue for the fourth quarter of 2022 increased 9% compared with the fourth quarter of 2021, excluding the impact of foreign currency. Net income for the fourth quarter of 2022 was $461 million, an increase of 11% on a reported basis.

ZTS in the fourth quarter of FY 22 has reported the adjusted earnings per share of $1.15, which is inline with the analysts’ estimates for the adjusted earnings per share of $1.15. The company had reported the adjusted revenue growth of 4 percent to $2 billion in the fourth quarter of FY 22, which is inline with the analysts’ estimates for revenue of $2 billion. Volume growth consisted of 3% from new products, which includes Simparica Trio as well as Librela and Solensia and 2% from key dermatology products, while other in-line products grew 1%. Companion animal products grew 15% operationally while our livestock portfolio was flat in the quarter. Simparica Trio was the largest contributor to growth in the quarter, posting global revenue of $171 million, representing operational growth of 39% for the quarter. The  key dermatology products, Apoquel and Cytopoint, had solid global growth in the quarter, posting $347 million of revenue, representing 14% operational growth against a robust prior year in which key derm grew 23% operationally in the fourth quarter of 2021. In Canada, the company’s fifth largest market by revenue in 2022, Zoetis gained approvals for two key livestock products: Protivity and as well as Poulvac Procerta HVT-IBD-ND.

Moreover, revenue in the U.S. segment was $1.112 billion, an increase of 7% compared with the fourth quarter of 2021. Sales of companion animal products increased 12%, driven by growth in the company’s parasiticide portfolio, primarily Simparica Trio for dogs. Revenue in the International segment was $901 million, essentially flat on a reported basis and an increase of 12% operationally compared with the fourth quarter of 2021. Sales of companion animal products grew 7% on a reported basis and 21% operationally.

Zoetis Inc sees FY 2023 EPS to be in the range of $5.34-$5.44 versus the analyst consensus of $5.33.

Zoetis Inc sees FY 2023 revenue to be in the range of $8.58B-$8.73B versus the analyst consensus of $8.57B.