Zoetis Delivers Strong 1Q Results, but African Swine Fever Puts Pressure on Livestock Business
Although Zoetis’ strong first-quarter operational results generally met our expectations, foreign currency headwinds were slightly stronger than we’d anticipated. After making slight adjustments to our near-term projections to reflect the stronger dollar, we’re standing behind our fair value estimate. Zoetis continues to reinforce its wide moat in the animal health arena with the addition of diagnostics from Abaxis, and once again, we saw the companion animal segment deliver double-digit revenue...Zoetis is a holding company. Through its subsidiaries, the company is engaged in the discovery, development, manufacture and commercialization of animal health medicines, vaccines, and diagnostic products with a focus on both livestock and companion animals. The company operates in two segments: the United States and International. The company's main product categories are vaccines, anti-infectives, parasiticides, other pharmaceutical products, dermatology products, medicated feed additives, and animal health diagnostics. The company's other non-pharmaceutical product categories include nutritionals and agribusiness, as well as products and services including biodevices, genetic tests and precision livestock farming.
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