Florham Park, NJ-based Zoetis Inc. (ZTS - Analyst Report) is one of the leading global animal health companies focused on the discovery, development, manufacture and commercialization of animal health medicines and vaccines. The company came into existence following Pfizer’s decision to spin off its animal health business in 2013.

Zoetis’ diversified portfolio of products for livestock and companion animals should continue to drive top-line growth at the company. The company’s top line should benefit from the addition of products acquired from Abbott Laboratories (Feb 2015), the Nov 2015 Pharmaq acquisition as well as from the performance of Apoquel and other key brands. In this scenario, investor focus remains on top-and bottom-line numbers.

Zoetis’ track record has been impressive with the company beating earnings estimates consistently. In fact, Zoetis has posted a positive earnings surprise in each of the trailing four quarters, with an average beat of 16.37%.

Currently, Zoetis has a Zacks Rank #1 (Strong Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Zoetis surpassed second-quarter 2016 earnings expectations. The company reported EPS of 49 cents while our consensus called for EPS of 44 cents.

Revenues: Revenues in the reported quarter also came in above expectations. Zoetis posted revenues of $1.21 billion above our consensus estimate of $1.16 billion.

Raises 2016 Outlook: Zoetis raised its outlook for 2016 yet again. The company now expects earnings in the range of $1.86 to $1.93 per share (old guidance: $1.83 to $1.90 per share) on revenues of $4.8 billion and $4.9 billion (old guidance: 4.775 billion and $4.875 billion). The Zacks Consensus Estimate for earnings is $1.87 per share on revenues of $4.86 billion.

ZOETIS INC Price