On May 6th, Zoetis Inc. (ZTS) reported on the first quarter of fiscal 2020. For the three-month period, net profit attained $423 million on revenue of $1.53 billion, generating an EPS of $0.88.  Corresponding figures for the first quarter of fiscal 2019 included net profit of $312 million on revenue of $1.455 billion with an EPS of $0.65.

U.S. sales represented 51 percent of revenue. Of this amount, livestock represented 67.8 percent.  Poultry products comprised 9.6 percent of total revenue or 20.6 percent of the livestock component.

The company noted that COVID-19 had no material impact on results for the first quarter.  In view of uncertainties, guidance for 2020 was downgraded to reflect revenue in the range of $5.95 to $6.25 billion with an EPS range of $2.80 to $3.07. 

ZTS closed on May 5th at $131.05 but post-release on May 6th price fell to $127.39 near noon.

Zoetis has a market capitalization of $61.0 billion and trades with a forward P/E of 36.The fifty-two-week range in share price was $90.14 to $146.26.  For the past twelve months, Zoetis generated a return on assets of 12.3 percent and on equity, 61.0 percent.  Trailing twelve-month operating margin was 35.0 percent and profit margin, 24.0 percent.