Wall Street is expecting earnings to decline year-over-year, while revenue will be slightly higher than a year ago.
Analysts surveyed by FactSet are forecasting adjusted earnings of 46 cents per share on revenue of $1.22 billion.
During the same period last year, the Parsippany, NJ-based animal healthcare company earned 50 cents per diluted share on revenue of $1.21 billion.
Credit Suisse has an "outperform" rating and $60 price target on the shares ahead of the quarterly report.
"Consistent with what we have seen in previous quarters, in 3Q16, more diversified companies, by geography, species, and therapeutic class fared better than others with more concentrated portfolios," he firm wrote in an analyst note yesterday.
Credit Suisse believes Zoetis is well positioned on this front with the broadest and most diversified portfolio in the animal health sector.
"While there were clearly caveats across the reports from various industry constituents, for Zoetis, the latest results heighten our conviction in its near term prospects, supporting our operational revenue growth forecast of +1%," the firm noted.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.
The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, notable return on equity, expanding profit margins and good cash flow from operations.