A spinoff of Pfizer, Zoetis is a global animal health company, which sells a diverse range of animal health products in more than 100 countries. The company went public on the New York Stock Exchange on Feb.1, 2013, pricing its shares at $26 each.
We had alerted readers to ZTS on Jun.30, 2014, when it was trading around $32 (Report titled “Beyond Felines and Canines…). Since then, there has been no looking back and the stock touched an all-time high of $202.04 in intra-day trading yesterday, before closing at $201.28.
The company’s efforts in executing strategies for building on its innovative pet care portfolio, expanding in key markets outside the U.S. and accelerating its growth in diagnostics are paying off. Revenue and profits have increased over the past eight years.
Despite the impacts of COVID-19, Zoetis reported a 6% growth in revenue of $6.68 billion and 9% increase in profit of $1.64 billion in 2020, thanks to the resilience of its business.
For the first quarter of 2021, the company’s revenue was $1.9 billion, an increase of 22% compared with the first quarter of 2020. Net income for the first quarter of 2021 was $559 million, or $1.17 per share, an increase of 32% and 33%, respectively, on a reported basis.
For the full year 2021, Zoetis expects revenue to be in the range of $7.50 to $7.62 billion.
The company is scheduled to report its second quarter 2021 financial results on Aug. 5.
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