ZTS
Zoetis Inc.123.23
+2.25+1.86%
Dec 16, 4:01:33 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A details guidance conservatism
Q&A largely reaffirmed prepared remarks on resilient portfolio execution amid U.S. macro softness and competition, emphasizing 2-3% pricing baked into 3-5% organic revenue guidance with Simparica leading growth and derm contributing positively. Management clarified fiscal alignment yields no extra month—minor Q4 pull-forward (~30bps) offset by 2026 deferrals for neutrality—and tougher H1 comps from lapping macro shifts, OA declines, promotions. No competitive share loss on Trio or ProHeart yet, despite new JAKi looming. Lanivia eyes EU/Canada H1 2026 launch, U.S. 2027. Competition hasn't dented share yet. Confident tone persists; investors watch U.S. pet owner recovery, derm resilience.
Key Stats
Market Cap
54.61BP/E (TTM)
20.75Basic EPS (TTM)
5.94Dividend Yield
0.02%Recent Filings
10-K
FY2025 results
Zoetis posted FY2025 revenue of $9.5B, up 2% reported but 3% operationally, with U.S. flat at $5.1B while International grew 5% operationally to $4.3B amid fiscal alignment shifts. Companion animal drove 5% growth to $6.6B via Simparica and dermatology strength, yet livestock dipped 3% to $2.8B post-MFA divestiture. Q4 momentum shone in International sales acceleration (2.5-3.5% boost from timing), lifting margins to 28% despite manufacturing costs. Robust $2.9B operating cash fueled $3.2B buybacks and $9.2B debt posture. Fiscal alignment looms for 2026. Generic competition threatens key franchises.
8-K
Zoetis Q4 revenue up 4% organic
Zoetis reported Q4 2025 revenue of $2.4B, up 3% reported and 4% organic operational, with full-year revenue at $9.5B, up 2% reported and 6% organic. International sales surged 8%, boosted by fiscal alignment shifts, while U.S. dipped 2%. Guides 2026 revenue to $9.825-$10.025B, targeting 3-5% organic growth. Pipeline advances shine.
8-K
Zoetis issues $2B convertibles
Zoetis closed its $2.0B 0.25% convertible notes offering due 2029 on December 18, 2025, after initial purchasers exercised their $250M greenshoe. Net proceeds of $1,969.6M fund $186.6M capped calls covering 13.5M shares, $248M for 2.1M share buybacks, and $1,535M more repurchases by Q1 2026 under its $6B program. Notes convert at $148.20/share, 22.5% premium. Credit facility waived to permit early conversions.
IPO
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