ZTS
Zoetis Inc.123.23
+2.25+1.86%
Dec 16, 4:01:33 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
FY Q3 '25
Q&A rejects 4Q as 2026 signal
Q&A downplays Q4's implied 3% organic growth as no read-through to 2026, pinning U.S. companion softness on three quarters of declining therapeutic visits curbing new patient starts, amid short-lived derm competition and distributor inventories below historical lows. Alternative channels surged 21%, bolstering Simparica Trio share. Key franchises track high single digits YTD, off double-digit expectations. Management applies Librela learnings—specialist education, OA awareness—to Lenivia/Portela launches H1 2026. 4Q exit not a 2026 harbinger. Confident tone on Librela stabilization; investors eye visit recovery.
Key Stats
Market Cap
54.61BP/E (TTM)
20.75Basic EPS (TTM)
5.94Dividend Yield
0.02%Recent Filings
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.
8-K
Zoetis unveils innovation pipeline
Zoetis hosted its Innovation Webcast on December 2, 2025, unveiling a robust pipeline targeting renal, oncology, and cardiology with $5B+ addressable markets. The animal health market eyes ~$90B by 2035, fueled by companion animal medicalization and livestock vaccine demand. Pipeline delivers annual major approvals. R&D hit $686M in 2024, sustaining 8-9% revenue growth.
10-Q
Q3 FY2025 results
Zoetis posted Q3 revenue of $2.4B, up 1% y/y yet flat operationally after the medicated feed additives divestiture, with companion animal sales climbing 3% y/y to $1.65B on stronger parasiticides and dermatology while livestock dipped 4%. Gross margins expanded to 71.5% from favorable pricing and mix, lifting operating income 1% y/y to $887M and diluted EPS to $1.63 (up 9% y/y, reconciled to 443.2M shares). Cash swelled to $2.1B on $2.0B operating cash flow, supporting $1.2B debt refinancing and $1.2B buybacks; free cash flow not disclosed in the 10-Q. U.S. IRS audit over 2018 repatriation tax lingers.
8-K
Zoetis Q3 revenue up 4% organically
Zoetis posted Q3 2025 revenue of $2.4B, up 1% reported but 4% organically, with adjusted net income at $754M rising 9% organically. U.S. livestock sales dipped from MFA divestiture, yet organic growth hit 14%; international companion animal products surged 8%. Revised FY25 revenue guidance to $9.40-$9.475B reflects macro trends. Growth persists.
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