Zoetis Inc. ZTS, +0.34% reported Thursday second-quarter profit and revenue that rose above expectations and lifted its full-year outlook, driven by petcare parasiticides, dermatology products, vaccines and diagnostics. The animal health company’s stock slipped 0.4% in premarket trading, after closing Wednesday at a record. Net income rose to $512 million, or $1.07 a share, from $377 million, or 79 cents a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share came to $1.19, beating the FactSet consensus of $1.08. Revenue grew 25.8% to $1.95 billion, above the FactSet consensus of $1.83 billion. For 2021, the company raised its guidance ranges for adjusted EPS to between $4.47 and $4.55 from between $4.42 and $4.51, and for revenue to between $7.63 billion and $7.70 billion from between $7.50 billion and $7.63 billion. “Our triple combination parasiticide Simparica Trio® continues exceeding our launch expectations and strengthening our overall position in this competitive market, and we remain very positive about further uptake of our petcare innovations in monoclonal antibodies and diagnostics,” said Chief Executive Kristin Peck. The stock has soared 17.8% over the past three months through Wednesday, while the S&P 500 SPX, -0.46% has gained 5.6%.
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