Zoetis, Mobileye Beat Earnings Estimates

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Zoetis, Mobileye Beat Earnings Estimates

Zoetis and Mobileye released their latest earnings reports before opening bell this morning. Zoetis posted adjusted earnings of 50 cents per share and revenue of $1.2 billion, compared to the consensus estimates of 40 cents per share and $1.18 billion in revenue.

Mobileye reported adjusted earnings of 15 cents per share, compared to last year’s 4 cents per share and the consensus estimate of 13 cents per share in earnings, and revenue of $70.6 million, a 104% increase year over year that also beat the consensus estimate of $67.36 million.

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Zoetis moves higher after results

Zoetis’ net income rose 14% year over year to 38 cents per share. U.S. revenues rose 19% to $632 million, with companion animal product sales climbing 27%. International revenue increased 2% operationally to $569 million.

Zoetis also updated its guidance. Management now expects full year revenue to come in between $4.7 billion and $4.75 billion and adjusted earnings to be between $1.70 and $1.74 per share. They expect reported earnings to be between 82 cents and 89 cents per share. For the 2016 fiscal year, Zoetis expects revenue to be between $4.75 billion and $4.875 billion, reported earnings to be between $1.50 and $1.68 per share, and adjusted earnings to be between $1.84 and $1.94 per share.

“Despite some global economic challenges, the animal health industry remains resilient based on the strong fundamental drivers for improved protein production and healthier pets,” Zoetis CEO Juan Ramon Alaix said in a statement. “Our growth strategies and resources are aligned against these drivers to expand our market leadership in the industry. The recently announced acquisition of PHARMAQ, a market-leading company in aquatic health, is an example of this growth strategy and will bring us another platform and pipeline to strengthen our core livestock business.”

As of this writing, shares of Zoetis were up 1.58% at $44.92 per share in premarket trading.

Mobileye continues rising

Mobileye’s GAAP earnings were 10 cents per share, compared to last year’s loss of 9 cents per share.  Original equipment