Latest news with #KristinPeck
Time Magazine
08-05-2025
- Health
- Time Magazine
Kristin Peck
Kristin Peck wants to change how you think about treating and preventing animal disease. Not only is their welfare an ethical obligation, it's also inseparable from the environment, economics, and our own health. 'Animals can help humans live longer,' says Peck, who is CEO of the global animal health company Zoetis. She helped launch Zoetis in 2012 because animal health 'spoke to me personally,' after growing up with a family raising horses, dogs, cats, and birds. Her passion for protecting animals has translated into major achievements, including 25 million doses of Zoetis' innovative arthritis medication given to dogs, starting in 2021 through the present. Zoetis has developed a new vaccine to protect chickens from the currently circulating Avian Influenza H5N1 virus that has infected 168 million birds in the U.S. since early 2022, decimating the poultry industry. In Feb. 2025, the U.S. government issued a license for the vaccine, though it has yet to be distributed for use in poultry farms. This followed the government's use of Zoetis' H5N1 vaccine in 2023 to protect endangered California condors. Zoetis' work pushes beyond U.S. borders: Zoetis distributes vaccines for eight animal species in more than 100 countries. In 2024, its H5N3 vaccine saved endangered birds in New Zealand. Peck's favorite part of the job is traveling to rural Africa, Asia, and Latin America to see how Zoetis' vaccinations are protecting livestock in low-income locales. 'Keeping animals healthy makes such a difference for community health,' she says.
CNBC
06-05-2025
- Business
- CNBC
Zoetis domestically manufactures 75% of its U.S. sales, says CEO Kristin Peck
Kristin Peck, Zoetis CEO, joins 'Closing Bell Overtime' to talk quarterly results, the animal health sector, raising its guidance, and more.
Business Wire
06-05-2025
- Business
- Business Wire
Zoetis Announces First Quarter 2025 Results
PARSIPPANY, N.J.--(BUSINESS WIRE)-- Zoetis Inc. (NYSE:ZTS) today reported its financial results for the first quarter of 2025 and updated its full year 2025 guidance. The company reported revenue of $2.2 billion for the first quarter of 2025, an increase of 1% compared with the first quarter of 2024. On an organic operational 1 basis, revenue for the first quarter of 2025 increased 9% compared with the first quarter of 2024. Net income for the first quarter of 2025 was $631 million, or $1.41 per diluted share, an increase of 5% and 8%, respectively, on a reported basis. Adjusted net income 2 for the first quarter of 2025 was $662 million, or $1.48 per diluted share, an increase of 4% and 7%, respectively, on a reported basis, and an increase of 6% and 8%, respectively, on an organic operational basis. Adjusted net income for the first quarter of 2025 excludes the net impact of $31 million for purchase accounting adjustments, acquisition and divestiture-related costs and certain significant items. EXECUTIVE COMMENTARY 'Zoetis achieved strong results for the first quarter of 2025, driven by demand for our innovative products and our focus on delivering for our customers. It is a testament to our colleagues' unwavering dedication and excellence in agility that we reported organic operational revenue growth of 9%," said Kristin Peck, Chief Executive Officer of Zoetis. "These results reinforce the essential nature of our business, the strength of our diversified portfolio across markets and species and the preference for our innovative products. While the external environment continues to evolve, we remain agile, disciplined and focused on supporting our customers and the animals in their care while continuing our commitment to deliver value to shareholders.' QUARTERLY HIGHLIGHTS Zoetis organizes and manages its commercial operations across two segments: United States (U.S.) and International. Within these segments, the company delivers a diverse portfolio of products for companion animals and livestock, tailored to local trends and customer needs. In the first quarter of 2025: Revenue in the U.S. segment was $1.2 billion, an increase of 2% compared with the first quarter of 2024 and an increase of 6% on an organic operational basis. Sales of companion animal products increased 8%, driven by Simparica Trio ®, the company's flea tick and heartworm combination product, key dermatology products Apoquel ® and Cytopoint ®, and monoclonal antibody (mAb) products for osteoarthritis (OA) pain, Librela ® for dogs and Solensia ® for cats. Other contributing factors to growth include diagnostic products, which benefited from a favorable comparative period due to last year's channel strategy change. This was offset by lower vaccine sales as a result of a competitor stock out in the same quarter last year. Sales of livestock products declined 21% in the quarter, largely due to the divestiture of the medicated feed additive (MFA) product portfolio and related assets. On an organic operational basis, sales of livestock products declined 2%. Revenue in the International segment was $1.0 billion, flat on a reported basis and an increase of 11% on an organic operational basis compared with the first quarter of 2024. Sales of companion animal products grew 4% on a reported basis and 10% operationally 3. Growth in the quarter was driven by the company's innovative companion animal products including, parasiticides products Simparica ® and Simparica Trio, key dermatology products Apoquel and Cytopoint, and monoclonal antibodies for OA pain, Librela and Solensia. Sales of livestock products declined 4% on a reported basis, largely due to foreign exchange and the divestiture of the medicated feed additive (MFA) product portfolio and related assets. On an organic operational basis, sales of livestock products increased 12%, driven largely by sales of the company's cattle products in Brazil and other emerging markets, as well as increased vaccine sales in key salmon markets. INVESTMENTS IN GROWTH Zoetis continues to advance innovation and care for animals across the globe. Since its last quarterly earnings announcement, Simparica Trio gained a new label indication in the U.S. to prevent Dipylidium caninum (flea tapeworm) infections by killing Ctenocephalides felis vector fleas in treated dogs. With this approval, Simparica Trio is the only canine combination parasiticide indicated to prevent flea tapeworm infections, at the source, by killing vector fleas before transmission. Simparica Trio also received approval in South Korea. Revolution ® Plus (selamectin/sarolaner), a topical combination product that treats ticks, fleas, ear mites, lice and gastrointestinal worms and prevents heartworm disease in cats, received approval in the U.K. for an additional claim related to efficacy against notoedres mange. On the livestock side of the business, the company received a conditional license for its Avian Influenza Vaccine, H5N2 Subtype, Killed Virus, for use in chickens, in the U.S. and Canada. Zoetis also received approval in the EU and Brazil for Poulvac ® Procerta ® HVT-IBD-ND, a part of the company's recombinant vector vaccine portfolio for poultry, which provides early, robust protection against Marek's, infectious bursal and Newcastle disease viruses with one dose. Poulvac Procerta HVT-IBD, which provides protection against Marek's and infectious bursal viruses, was approved in the U.K. Also in the U.K., Poulvac IB Primer and Poulvac IB QX received approval for an association claim that includes cross protection against 793B and variant 2 strains of infectious Bronchitis virus (IBV) and Suvaxyn ® PRRS MLV received approval for an additional claim related to use in lactating sows. FINANCIAL GUIDANCE Zoetis is updating its full year 2025 guidance. Revenue between $9.425 billion to $9.575 billion (maintains guidance for organic operational growth of 6% to 8%) Reported net income between $2.630 billion to $2.680 billion Adjusted net income between $2.775 billion to $2.825 billion (organic operational growth of 5% to 7%) Reported diluted EPS of $5.85 to $5.95 Adjusted diluted EPS between $6.20 to $6.30 This guidance reflects foreign exchange rates as of late April and the impact of enacted tariffs. Additional details on guidance are included in the financial tables and will be discussed on the company's conference call this morning. WEBCAST & CONFERENCE CALL DETAILS Zoetis will host a webcast and conference call at 8:30 a.m. (ET) today, during which company executives will review first quarter 2025 results, discuss financial guidance and respond to questions from financial analysts. Investors and the public may access the live webcast and corresponding slides by visiting the Zoetis website at A replay of the webcast will be archived and made available on May 6, 2025. About Zoetis As the world's leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After innovating ways to predict, prevent, detect, and treat animal illness for more than 70 years, Zoetis continues to stand by those raising and caring for animals worldwide – from veterinarians and pet owners to livestock producers. The company's leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $9.3 billion in 2024 with approximately 13,800 employees. For more information, visit 1 Organic operational results (a non-GAAP financial measure) is defined as results excluding the impact of foreign exchange and certain acquisitions and divestitures. 2 Adjusted net income and its components and adjusted diluted earnings per share (non-GAAP financial measures) are defined as reported net income and reported diluted earnings per share, excluding purchase accounting adjustments, acquisition and divestiture-related costs and certain significant items. 3 Operational results (a non-GAAP financial measure) is defined as results excluding the impact of foreign exchange. DISCLOSURE NOTICES Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to: business plans or prospects, future operating or financial performance, future guidance, future operating models; R&D costs; timing and likelihood of success; expectations regarding products, product approvals or products under development and expected timing of product launches; expectations regarding competing products; expectations regarding financial impact of divestitures; disruptions in our global supply chain; expectations regarding the performance of acquired companies and our ability to integrate new businesses; expectations regarding the financial impact of acquisitions; future use of cash, dividend payments and share repurchases; foreign exchange rates, tax rates, tariffs, changes in tax regimes and laws and any changes thereto; and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our most recent Annual Report on Form 10-K, including in the sections thereof captioned 'Forward-Looking Statements and Factors That May Affect Future Results' and 'Item 1A. Risk Factors,' in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at or on request from Zoetis. Use of Non-GAAP Financial Measures: We use non-GAAP financial measures, such as adjusted net income, adjusted diluted earnings per share, operational results (which exclude the impact of foreign exchange) and organic operational results (which exclude the impact of foreign exchange and certain acquisitions and divestitures), to assess and analyze our results and trends and to make financial and operational decisions. We believe these non-GAAP financial measures are also useful to investors because they provide greater transparency regarding our operating performance. The non-GAAP financial measures included in this press release should not be considered alternatives to measurements required by GAAP, such as net income, operating income, and earnings per share, and should not be considered measures of liquidity. These non-GAAP financial measures are unlikely to be comparable with non-GAAP information provided by other companies. Reconciliations of non-GAAP financial measures and the most directly comparable GAAP financial measures are included in the tables accompanying this press release and are posted on our website at Internet Posting of Information: We routinely post information that may be important to investors on the 'Investor Relations' section of our website at as well as on LinkedIn, Facebook, X (formerly Twitter) and YouTube. We encourage investors and potential investors to consult our website regularly and to follow us on social media for company news and information. ZTS-COR ZTS-IR ZTS-FIN ZOETIS INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (a) (UNAUDITED) (millions of dollars, except per share data) Three Months Ended March 31, 2025 2024 % Change Revenue $ 2,220 $ 2,190 1 Costs and expenses: Cost of sales 622 643 (3 ) Selling, general and administrative expenses 563 547 3 Research and development expenses 157 162 (3 ) Amortization of intangible assets 32 37 (14 ) Restructuring charges and certain acquisition and divestiture-related costs — 4 * Interest expense, net of capitalized interest 54 58 (7 ) Other (income)/deductions–net (18 ) (8 ) * Income before provision for taxes on income 810 747 8 Provision for taxes on income 179 148 21 Net income before allocation to noncontrolling interests 631 599 5 Less: Net income/(loss) attributable to noncontrolling interests — — * Net income attributable to Zoetis Inc. $ 631 $ 599 5 Earnings per share attributable to Zoetis—basic $ 1.41 $ 1.31 8 Earnings per share attributable to Zoetis—diluted $ 1.41 $ 1.31 8 Weighted-average shares used to calculate earnings per share Basic 447.6 458.0 Diluted 448.0 458.8 (a) The condensed consolidated statements of income present the three months ended March 31, 2025 and 2024. Subsidiaries operating outside the United States are included for the three months ended February 28, 2025 and February 29, 2024. * Calculation not meaningful. Expand ZOETIS INC. CERTAIN LINE ITEMS (UNAUDITED) (millions of dollars, except per share data) Three Months Ended March 31, 2025 GAAP Reported (a) Purchase Accounting Adjustments Acquisition and Divestiture- Related Costs Certain Significant Items (1) Non-GAAP Adjusted (b) Cost of sales $ 622 $ (1 ) $ — $ (1 ) $ 620 Gross profit 1,598 1 — 1 1,600 Selling, general and administrative expenses 563 (3 ) — (6 ) 554 Research and development expenses 157 — — — 157 Amortization of intangible assets 32 (28 ) — — 4 Restructuring charges and certain acquisition and divestiture-related costs — — — — — Other (income)/deductions–net (18 ) — — 1 (17 ) Income before provision for taxes on income 810 32 — 6 848 Provision for taxes on income 179 7 — — 186 Net income attributable to Zoetis 631 25 — 6 662 Earnings per common share attributable to Zoetis–diluted 1.41 0.06 — 0.01 1.48 Three Months Ended March 31, 2024 GAAP Reported (a) Purchase Accounting Adjustments Acquisition and Divestiture- Related Costs Certain Significant Items (1) Non-GAAP Adjusted (b) Cost of sales $ 643 $ (1 ) $ — $ — $ 642 Gross profit 1,547 1 — — 1,548 Selling, general and administrative expenses 547 (3 ) — — 544 Research and development expenses 162 (1 ) — — 161 Amortization of intangible assets 37 (32 ) — — 5 Restructuring charges and certain acquisition and divestiture-related costs 4 — — (4 ) — Other (income)/deductions–net (8 ) — — (2 ) (10 ) Income before provision for taxes on income 747 37 — 6 790 Provision for taxes on income 148 8 — — 156 Net income attributable to Zoetis 599 29 — 6 634 Earnings per common share attributable to Zoetis–diluted 1.31 0.06 — 0.01 1.38 (a) The condensed consolidated statements of income present the three months ended March 31, 2025 and 2024. Subsidiaries operating outside the United States are included for the three months ended February 28, 2025 and February 29, 2024. (b) Non-GAAP adjusted net income and its components and non-GAAP adjusted diluted EPS are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. Despite the importance of these measures to management in goal setting and performance measurement, non-GAAP adjusted net income and its components and non-GAAP adjusted diluted EPS are non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, have limits in their usefulness to investors. Because of the non-standardized definitions, non-GAAP adjusted net income and its components and non-GAAP adjusted diluted EPS (unlike U.S. GAAP net income and its components and diluted EPS) may not be comparable to the calculation of similar measures of other companies. Non-GAAP adjusted net income and its components, and non-GAAP adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance. See Notes to Reconciliation of GAAP Reported to Non-GAAP Adjusted Information for note (1). Expand ZOETIS INC. NOTES TO RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION CERTAIN LINE ITEMS (UNAUDITED) (millions of dollars) (1) Certain significant items include the following: 2025 2024 Other restructuring charges and cost-reduction/productivity initiatives (a) $ — $ 4 Other 6 2 Total certain significant items—pre-tax 6 6 Income taxes (b) — — Total certain significant items—net of tax $ 6 $ 6 (a) For the three months ended March 31, 2024, primarily consisted of employee termination costs related to organizational structure refinements, partially offset by a reversal of certain employee termination costs as a result of a change in strategy from our 2015 operational efficiency initiative, included in Restructuring charges and certain acquisition and divestiture-related costs. (b) Included in Provision for taxes on income. Income taxes include the tax effect of the associated pre-tax amounts, calculated by determining the jurisdictional location of the pre-tax amounts and applying that jurisdiction's applicable tax rate. Expand ZOETIS INC. ADJUSTED SELECTED COSTS, EXPENSES AND INCOME (a) (UNAUDITED) (millions of dollars) Three Months Ended March 31, % Change 2025 2024 Total Foreign Exchange Operational (b) Divestitures Organic Operational (c) Adjusted cost of sales $ 620 $ 642 (3 )% (10 )% 7 % as a percent of revenue 27.9 % 29.3 % NA NA NA Adjusted SG&A expenses 554 544 2 % (2 )% 4 % Adjusted R&D expenses 157 161 (2 )% — % (2 )% Adjusted net income 662 634 4 % 2 % 2 % (4 )% 6 % (a) Adjusted cost of sales, adjusted selling, general, and administrative (SG&A) expenses, adjusted research and development (R&D) expenses, and adjusted net income (non-GAAP financial measures) are defined as the corresponding reported U.S. GAAP income statement line items excluding purchase accounting adjustments, acquisition and divestiture-related costs and certain significant items. These adjusted income statement line item measures are not, and should not be viewed as, substitutes for the corresponding U.S. GAAP line items. The corresponding GAAP line items and reconciliations of reported to adjusted information are provided in Condensed Consolidated Statements of Income and Reconciliation of GAAP Reported to Non-GAAP Adjusted Information. (b) Operational results (a non-GAAP financial measure) is defined as results excluding the impact of foreign exchange. (c) Organic operational results (a non-GAAP financial measure) is defined as revenue excluding the impact of foreign exchange and certain acquisitions and divestitures. Expand ZOETIS INC. 2025 GUIDANCE Selected Line Items (millions of dollars, except per share amounts) Full Year 2025 as of May 6, 2025 Full Year 2025 as of February 13, 2025 (Prior Guidance) Revenue $9,425 to $9,575 $9,225 to $9,375 Organic operational growth (a) 6% to 8% 6% to 8% Adjusted cost of sales as a percentage of revenue (b) Approximately 28.5% Approximately 28.0% Adjusted SG&A expenses (b) $2,340 to $2,390 $2,300 to $2,350 Adjusted R&D expenses (b) $690 to $700 $680 to $690 Adjusted interest expense and other (income)/deductions-net (b) Approximately $180 Approximately $200 Effective tax rate on adjusted income (b) Approximately 21% Approximately 21% Adjusted diluted EPS (b) $6.20 to $6.30 $6.00 to $6.10 Adjusted net income (b) $2,775 to $2,825 $2,700 to $2,750 Organic operational growth (a)(c) 5% to 7% 6% to 8% Certain significant items and acquisition and divestiture-related costs (d) Approximately $45 Approximately $30 The guidance as of May 6, 2025 reflects foreign exchange rates as of late April 2025. The prior guidance as of February 13, 2025 reflects foreign exchange rates as of late January 2025. Expand Reconciliations of 2025 reported guidance to 2025 adjusted guidance follows: Cost of sales as a percentage of revenue ~ 28.7% ~ (0.1%) ~ (0.1%) ~ 28.5% SG&A expenses $2,365 to $2,415 ~ $(15) ~ $(10) $2,340 to $2,390 R&D expenses $692 to $702 ~ $(2) $690 to $700 Interest expense and other (income)/deductions-net ~ $180 ~ $180 Effective tax rate ~ 21% ~ 21% Diluted EPS $5.85 to $5.95 ~ $0.10 ~ $0.25 $6.20 to $6.30 Net income attributable to Zoetis $2,630 to $2,680 ~ $45 ~ $100 $2,775 to $2,825 (a) Organic operational results (a non-GAAP financial measure) excludes the impact of foreign exchange and certain acquisitions and divestitures. (b) Adjusted net income and its components and adjusted diluted EPS are defined as reported U.S. GAAP net income and its components and reported diluted EPS excluding purchase accounting adjustments, acquisition and divestiture-related costs and certain significant items. Adjusted cost of sales, adjusted SG&A expenses, adjusted R&D expenses, and adjusted interest expense and other (income)/deductions-net are income statement line items prepared on the same basis, and, therefore, components of the overall adjusted income measure. Despite the importance of these measures to management in goal setting and performance measurement, adjusted net income and its components and adjusted diluted EPS are non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, have limits in their usefulness to investors. Because of the non-standardized definitions, adjusted net income and its components and adjusted diluted EPS (unlike U.S. GAAP net income and its components and diluted EPS) may not be comparable to the calculation of similar measures of other companies. Adjusted net income and its components and adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance. Adjusted net income and its components and adjusted diluted EPS are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. (c) We do not provide a reconciliation of forward-looking non-GAAP adjusted net income operational results to the most directly comparable U.S. GAAP reported financial measure because we are unable to calculate with reasonable certainty the foreign exchange impact of unusual gains and losses, acquisition and divestiture-related expenses, potential future asset impairments and other certain significant items, without unreasonable effort. The foreign exchange impacts of these items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP reported results for the guidance period. (d) Primarily includes certain nonrecurring costs related to acquisitions, divestitures and other charges. Expand March 31, % Change Revenue: Companion Animal $ 1,546 $ 1,450 7 % (2 )% 9 % — % 9 % Livestock 645 720 (10 )% (5 )% (5 )% (12 )% 7 % Contract Manufacturing & Human Health 29 20 45 % (6 )% 51 % — % 51 % Total Revenue $ 2,220 $ 2,190 1 % (4 )% 5 % (4 )% 9 % U.S.: Companion Animal $ 973 $ 898 8 % — % 8 % — % 8 % Livestock 210 265 (21 )% — % (21 )% (19 )% (2 )% Total U.S. Revenue $ 1,183 $ 1,163 2 % — % 2 % (4 )% 6 % International: Companion Animal $ 573 $ 552 4 % (6 )% 10 % — % 10 % Livestock 435 455 (4 )% (8 )% 4 % (8 )% 12 % Total International Revenue $ 1,008 $ 1,007 — % (7 )% 7 % (4 )% 11 % Companion Animal: Dogs and Cats $ 1,481 $ 1,384 7 % (2 )% 9 % Horses 65 66 (2 )% (4 )% 2 % Total Companion Animal Revenue $ 1,546 $ 1,450 7 % (2 )% 9 % Livestock: Cattle $ 358 $ 391 (8 )% (5 )% (3 )% Swine 111 127 (13 )% (6 )% (7 )% Poultry 106 139 (24 )% (4 )% (20 )% Fish 53 45 18 % (3 )% 21 % Sheep and other 17 18 (6 )% (6 )% — % Total Livestock Revenue $ 645 $ 720 (10 )% (5 )% (5 )% (a) For a description of each segment, see Zoetis' most recent Annual Report on Form 10-K. (b) Operational revenue results (a non-GAAP financial measure) is defined as revenue results excluding the impact of foreign exchange. (c) Organic operational results (a non-GAAP financial measure) is defined as revenue excluding the impact of foreign exchange and certain acquisitions and divestitures. Expand ZOETIS INC. CONSOLIDATED REVENUE BY KEY INTERNATIONAL MARKETS (UNAUDITED) (millions of dollars) Three Months Ended March 31, % Change 2025 2024 Total Foreign Exchange Operational (a) Total International $ 1,008 $ 1,007 — % (7 )% 7 % Australia 75 73 3 % (5 )% 8 % Brazil 88 101 (13 )% (19 )% 6 % Canada 67 61 10 % (7 )% 17 % Chile 34 31 10 % (1 )% 11 % China 60 76 (21 )% (1 )% (20 )% France 40 41 (2 )% (4 )% 2 % Germany 51 51 — % (4 )% 4 % Italy 29 28 4 % (5 )% 9 % Japan 36 37 (3 )% (5 )% 2 % Mexico 37 44 (16 )% (15 )% (1 )% Spain 33 32 3 % (4 )% 7 % United Kingdom 77 77 — % (1 )% 1 % Other developed markets 133 127 5 % (6 )% 11 % Other emerging markets 248 228 9 % (8 )% 17 % (a) Operational revenue results (a non-GAAP financial measure) is defined as revenue results excluding the impact of foreign exchange. Note: operational revenue results are not reflective of organic operational results. Expand ZOETIS INC. SEGMENT (a) EARNINGS (UNAUDITED) (millions of dollars) Three Months Ended March 31, % Change 2025 2024 Total Foreign Exchange U.S.: Revenue $ 1,183 $ 1,163 2 % — % 2 % Cost of Sales 199 217 (8 )% — % (8 )% Gross Profit 984 946 4 % — % 4 % Gross Margin 83.2 % 81.3 % Operating Expenses 205 190 8 % — % 8 % Other (income)/deductions-net — — — % — % — % U.S. Earnings $ 779 $ 756 3 % — % 3 % International: Revenue $ 1,008 $ 1,007 — % (7 )% 7 % Cost of Sales 302 313 (4 )% (14 )% 10 % Gross Profit 706 694 2 % (4 )% 6 % Gross Margin 70.0 % 68.9 % Operating Expenses 154 159 (3 )% (7 )% 4 % Other (income)/deductions-net 1 — * * * International Earnings $ 551 $ 535 3 % (4 )% 7 % Total Reportable Segments $ 1,330 $ 1,291 3 % (2 )% 5 % Other business activities (c) (129 ) (132 ) (2 )% Reconciling Items: Corporate (d) (271 ) (288 ) (6 )% Purchase accounting adjustments (e) (32 ) (37 ) (14 )% Certain significant items (f) (6 ) (6 ) — % Other unallocated (g) (82 ) (81 ) 1 % Total Earnings (h) $ 810 $ 747 8 % (a) For a description of each segment, see Zoetis' most recent Annual Report on Form 10-K. (b) Operational results (a non-GAAP financial measure) is defined as results excluding the impact of foreign exchange. (c) Other business activities includes the research and development costs managed by our research and development organization, as well as our contract manufacturing business and human health business. (d) Corporate includes, among other things, certain costs associated with information technology, administration expenses, interest income and expense, certain compensation costs and other costs not charged to our operating segments. (e) Purchase accounting adjustments include certain charges related to the amortization of fair value adjustments to inventory, intangible assets and property, plant and equipment not charged to our operating segments. (f) Certain significant items includes substantive, unusual items that, either as a result of their nature or size, would not be expected to occur as part of our normal business on a regular basis. Such items primarily include certain asset impairment charges, restructuring charges and implementation costs associated with cost-reduction/productivity initiatives that are not associated with an acquisition, as well as a loss on assets held for sale and the impact of divestiture gains and losses. (g) Includes overhead expenses associated with our global manufacturing and supply operations not directly attributable to an operating segment, as well as certain procurement costs. (h) Defined as income before provision for taxes on income. * Calculation not meaningful. Expand
Yahoo
27-03-2025
- Business
- Yahoo
Zoetis to Host Webcast and Conference Call on First Quarter 2025 Financial Results
PARSIPPANY, N.J., March 27, 2025--(BUSINESS WIRE)--Zoetis Inc. (NYSE:ZTS) will host a webcast and conference call at 8:30 a.m. (ET) on Tuesday, May 6, 2025. Chief Executive Officer Kristin Peck and Executive Vice President and Chief Financial Officer Wetteny Joseph will review first quarter 2025 financial results and respond to questions from financial analysts during the call. Investors and the public may access the live webcast by visiting the Zoetis website at Pre-registration for the webcast is available beginning today. A replay of the webcast will be made available on May 6, 2025. About Zoetis As the world's leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After innovating ways to predict, prevent, detect, and treat animal illness for more than 70 years, Zoetis continues to stand by those raising and caring for animals worldwide – from veterinarians and pet owners to livestock producers. The company's leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $9.3 billion in 2024 with approximately 13,800 employees. For more information, visit ZTS-CORZTS-IR View source version on Contacts Media:Jennifer Albano1-862-399-0810 (o) Laura Panza1-973-975-5176 (o) Investor:Steve Frank1-973-822-7141 (o) Nick Soonthornchai1-973-443-2792 (o) Sign in to access your portfolio
CNN
16-02-2025
- Business
- CNN
Company says it received conditional approval for bird flu vaccine from US Department of Agriculture
The US Department of Agriculture last week issued a conditional license for an avian flu vaccine for use in chickens, amid an outbreak ravaging poultry flocks, contributing to the sky-high price of eggs. Zoetis, the manufacturer behind the vaccine, announced the conditional approval Friday, saying in a news release its scientists had begun updating its existing avian flu vaccine in 2022. 'We've been working with the administration and with Congress, and we're very excited today to get the licensure for (the vaccine) in poultry, which we think will be a tool that we will help support the government as they deem necessary,' Zoetis CEO Kristin Peck told CNBC on Friday. The conditional license was granted based on the 'the demonstration of safety, purity, and reasonable expectation of efficacy,' Zoetis said. A conditional license can generally be used to address an emergency situation or special circumstance, the company noted, and is issued for a set period of time. The company has previously developed vaccines for avian flu, including one used by the US Fish and Wildlife Service to protect California condors in 2023, Zoetis said, noting, 'The decision to vaccinate commercial poultry flocks rests solely with national regulatory authorities in consultation with their local poultry sector,' the company's news release said. CNN reached out to the USDA for comment Sunday. While other countries already vaccinate chickens against bird flu, the US approach has long been focused on eradicating the virus, mainly through culling flocks of birds when a case is identified. Historically, vaccination has been thought to carry a number of complications, including making it difficult to detect the virus in inoculated birds and trade concerns. But the strategy may be shifting as bird flu spreads to other types of animals, like cattle, and becomes more difficult to contain: Over the last 30 days, 146 flocks have been confirmed to have avian flu, affecting more than 20.5 million birds, according to the Animal and Plant Health Inspection Service, part of the USDA. More than 150 million birds have been affected since the current outbreak began in 2022. About 70 bird flu infections have been confirmed in people in the US since March 2024, and an older person in Louisiana died last year. The US Centers for Disease Control and Prevention, however, has said the risk to the public remains low, though those who work on farms with infected animals or who have backyard poultry flocks are at a higher risk of infection. Director of the National Economic Council Kevin Hassett is preparing, along with Secretary of Agriculture Brook Rollins, to present a plan to President Donald Trump to combat bird flu, including options that would sidestep the need to kill chickens, he told CBS's 'Face The Nation' on Sunday. 'What we need to do is have better ways with biosecurity and medication and so on' to avoid killing chickens, Hassett said. 'And so having a smart perimeter is what we're working on, and we're finalizing the ideas about how to do that with the best scientists in government.' In the meantime, Americans can continue to expect high prices for eggs this year due to the ongoing avian flu outbreak and inflation, according to new estimates. Egg prices are estimated to increase about 20% in 2025, compared to about 2.2% for food prices in general, according to the US Department of Agriculture's price outlook. Beef, coffee and orange juice are among groceries with higher prices, but eggs are uniquely affected by the aggressive strain of avian flu, which has strained supply.
