Zoetis said it expects adjusted earnings per share for fiscal 2014 in the range of $1.48 to $1.54, excluding recurring items. Analysts surveyed by Capital IQ were looking for earnings of $1.61. The company also forecast revenue of $4.65 billion to $4.75 billion for 2014, which is below the consensus estimate of $4.77 billion.
Zoetis posted adjusted earnings in the fourth quarter of 36 cents a share, edging out the Capital IQ consensus estimate by 2 cents. Revenue increased 7% year over year to $1.25 billion, beating the $1.2 billion consensus estimate. U.S. revenue rose 7% year over year to $516 million.
"In 2013, we successfully established ourselves as a new public company, delivered on our financial objectives, and continued meeting our customer commitments," said CEO Juan Ramon Alaix in the company's statement. "Our performance in 2013, together with our guidance for 2014, confirms our long-term objective to grow revenue in line with, or faster than, the market; to grow adjusted net income faster than revenue; and to bring additional value to our customers, colleagues and shareholders."