Latest news with #ZoetisInc
Business Wire
11-08-2025
- Business
- Business Wire
Zoetis Announces Pricing of $1.85 Billion of Senior Notes
PARSIPPANY, N.J.--(BUSINESS WIRE)--Zoetis Inc. (NYSE:ZTS) today announced that it has agreed to sell $1.850 billion of senior notes, consisting of $850.0 million aggregate principal amount of 4.150% senior notes due 2028 and $1.0 billion aggregate principal amount of 5.000% senior notes due 2035, in an underwritten public offering. Zoetis intends to use the net proceeds to repay the principal of (i) its 4.500% senior notes due 2025 in the aggregate principal amount of $750 million, (ii) its 5.400% senior notes due 2025 in the aggregate principal amount of $600 million, and (iii) the remainder for general corporate purposes. The offering is expected to close on August 18, 2025, subject to customary closing conditions. Barclays Capital Inc., BofA Securities, Inc., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and MUFG Securities Americas Inc. are acting as joint book-running managers of the underwriters. The final prospectus supplement and accompanying prospectus, when available, may be accessed through the SEC's website at Alternatively, the issuer, the underwriters or any dealer participating in the offering will arrange to send the prospectus and prospectus supplement upon request by calling Barclays at 1-888-603-5847, BofA Securities at 1-800-294-1322, Citigroup at 1-800-831-9146, J.P. Morgan at 212-834-4533 and MUFG at 1-877-649-6848. These securities are offered pursuant to a registration statement that has become effective under the Securities Act of 1933, as amended. These securities are only offered by means of the prospectus supplement and prospectus relating to the offering. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any offer or sale of these securities in any state or other jurisdiction, where the offer, solicitation or sale of these securities would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. 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. 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.
Yahoo
05-08-2025
- Business
- Yahoo
Zoetis Lifts Outlook As Companion Animal Portfolio Offsets Librela Decline
Animal health firm Zoetis Inc. (NYSE:ZTS) on Tuesday reported a second-quarter 2025 adjusted earnings per share of $1.76, up from $1.56 a year ago, beating the consensus of $1.61. The company reported sales of $2.50 billion, up 4% year over year, beating the consensus of $2.41 billion. On an organic operational basis, revenue for the second quarter of 2025 increased 8% compared with the second quarter of 2024. Revenue in the U.S. segment was $1.4 billion, up 4% and 7% on an organic operational of the company's companion animal products increased 9%, driven primarily by Simparica Trio, the company's flea, tick, and heartworm combination product, as well as its key dermatology portfolio, including Apoquel, Apoquel Chewable, and Cytopoint. Broad-based growth across the remainder of the companion animal portfolio, including vaccines and diagnostics, was partially offset by a decline in the company's monoclonal antibody (mAb) products for osteoarthritis (OA) pain, Librela for dogs, and Solensia for cats. Sales of livestock products declined 21% in the quarter, largely due to the divestiture of the medicated feed additive product portfolio and related assets. On an organic operational basis, sales of livestock products decreased 2% in the quarter due to the timing of supply of ceftiofur products and competition for Draxxin, partially offset by growth across the livestock portfolio, primarily in vaccines. Guidance Zoetis raised its fiscal 2025 revenues guidance from $9.425 billion–$9.575 billion to $9.45 billion-$9.6 billion, compared to the consensus of $9.49 billion. View more earnings on ZTS The animal health company also raised the 2025 adjusted earnings per share from $6.20-$6.30 to $6.30-$6.40, compared to the consensus of $6.23. The company expects adjusted net income of $2.825 billion-$2.875 billion compared to the prior guidance of $2.775 billion-$2.825 billion. The company says the guidance reflects foreign exchange rates and the impact of enacted tariffs. With an eye on future growth, William Blair noted that sentiment around Librela, a key product in Zoetis's portfolio, remains subdued. However, they argue that the product's decline in the U.S. market may not significantly impact overall performance, particularly given the robust performance in the U.S. companion animal segment, which saw strong growth. The momentum in this area appears sufficient to offset the challenges posed by Librela's underperformance. Brandon Vazquez, an analyst at William Blair, commented, 'Investors have been questioning how Zoetis can sustain growth within its long-range plan amid rising competition and struggles with Librela. We think second-quarter results and raised full-year guidance should give incremental confidence that this is not the case.' Zoetis saw its shares initially rise following the release of its stronger-than-expected second-quarter results, alongside an upward revision of its fiscal 2025 EPS and revenue guidance. However, despite the positive report and raised outlook, Zoetis stock has since retraced its earlier gains. Price Action: ZTS stock is trading lower by 2.62% to $147.84 at last check Tuesday. Read Next:Photo by JHVEPhoto via Shutterstock Latest Ratings for ZTS Date Firm Action From To Mar 2022 Citigroup Maintains Neutral Dec 2021 Citigroup Maintains Neutral Nov 2021 Morgan Stanley Initiates Coverage On Overweight View More Analyst Ratings for ZTS View the Latest Analyst Ratings UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? ZOETIS (ZTS): Free Stock Analysis Report This article Zoetis Lifts Outlook As Companion Animal Portfolio Offsets Librela Decline originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
05-08-2025
- Business
- Business Wire
Zoetis Announces Second Quarter 2025 Results, Raises Full Year 2025 Outlook
- Reports Revenue of $2.5 Billion, Growing 4%, and Net Income of $718 Million, or $1.61 per Diluted Share, Increasing 15% and 18%, Respectively, on a Reported Basis for Second Quarter 2025 Delivers 8% Organic Operational Growth in Revenue and 10% Organic Operational Growth in Adjusted Net Income for Second Quarter 2025 Reports Adjusted Net Income of $783 Million, or Adjusted Diluted EPS of $1.76, for Second Quarter 2025 Raises Full Year 2025 Revenue Guidance to $9.450 - $9.600 Billion with Organic Operational Revenue Growth of 6.5% to 8.0% Following Strong First-Half Performance Raises Full Year 2025 Guidance for Organic Operational Growth in Adjusted Net Income to 5.5% to 7.5% to Reflect Disciplined Execution and Cost Management Raises Guidance for Diluted EPS on an Adjusted Basis to $6.30 to $6.40 PARSIPPANY, N.J.--(BUSINESS WIRE)-- Zoetis Inc. (NYSE:ZTS) today reported its financial results for the second quarter of 2025 and raised its full year 2025 guidance. The company reported revenue of $2.5 billion for the second quarter of 2025, an increase of 4% compared with the second quarter of 2024. On an organic operational 1 basis, revenue for the second quarter of 2025 increased 8% compared with the second quarter of 2024. Net income for the second quarter of 2025 was $718 million, or $1.61 per diluted share, an increase of 15% and 18%, respectively, on a reported basis. Adjusted net income 2 for the second quarter of 2025 was $783 million, or $1.76 per diluted share, an increase of 10% and 13%, respectively, on both a reported and an organic operational basis. Adjusted net income for the second quarter of 2025 excludes the net impact of $65 million for purchase accounting adjustments, acquisition and divestiture-related costs and certain significant items. EXECUTIVE COMMENTARY 'Zoetis delivered a strong broad-based performance in the second quarter of 2025, with 8% organic operational revenue growth," said Kristin Peck, Chief Executive Officer of Zoetis. "Our consistent results across economic and competitive cycles reflect the strength of our innovation engine, the breadth of our diversified portfolio and the discipline of our execution in what remains one of the most compelling long-term growth sectors. As we look to the second half of the year, our focus remains clear: execute with discipline, advance meaningful innovation and stay deeply connected to our customers." 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 second quarter of 2025: Revenue in the U.S. segment was $1.4 billion, an increase of 4% compared with the second quarter of 2024 and an increase of 7% on an organic operational basis. Sales of the company's innovative companion animal products increased 9%, driven primarily by Simparica Trio ®, the company's flea, tick and heartworm combination product, as well as its key dermatology portfolio including Apoquel ®, Apoquel Chewable and Cytopoint ®. Broad-based growth across the remainder of the companion animal portfolio, including vaccines and diagnostics, was partially offset by a decline in the company's monoclonal antibody (mAb) products for osteoarthritis (OA) pain, Librela ® for dogs and Solensia ® for cats. 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 decreased 2% in the quarter due to the timing of supply of ceftiofur products and competition for Draxxin, partially offset by growth across the livestock portfolio, primarily in vaccines. Revenue in the International segment was $1.1 billion, a 3% increase on a reported basis and an increase of 9% on an organic operational basis compared with the second quarter of 2024. Sales of companion animal products grew 8% on a reported and an operational 3 basis. Growth in the quarter was driven by the company's innovative companion animal portfolio including key dermatology products Apoquel and Cytopoint, Simparica franchise and monoclonal antibodies for OA pain, Librela and Solensia. Sales of livestock products declined 2% on a reported basis, largely due to the divestiture of the MFA product portfolio and related assets, as well as foreign exchange. On an organic operational basis, sales of livestock products increased 10%, driven by broad-based growth across core species including swine, fish, poultry and cattle. INVESTMENTS IN GROWTH Zoetis continues to advance care for animals across the globe with a robust pipeline fueled by lifecycle innovation, geographic expansion and disruptive innovation. The company expects a significant approval in a major market every year for the next several years. Since its last quarterly earnings announcement, Simparica Trio gained new label indications in Japan to prevent eyeworms and 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. 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 for an additional claim related to efficacy against notoedres mange in Australia, and in the EU received approval for an additional claim for the prevention of flea tapeworm infections by controlling fleas. Geographic expansion included approval of Solensia (frunevetmab injection) in South Korea for control of pain associated with osteoarthritis in cats. Revolution Plus was approved in the Philippines to treat ticks, fleas, ear mites, lice and gastrointestinal worms and prevent heartworm disease in cats. On the livestock side of the business, Zoetis received a conditional license for its Avian Influenza Vaccine, H5N2 Subtype, Killed Virus, for use in lactating dairy cattle in the U.S. In Brazil, the company gained a new label claim for Fostera ® Gold PCV MH related to swine breeding herd safety. Zoetis received approval in Australia for needle-free administration of its Fostera Gold PCV MH vaccine to help prevent infection from Mycoplasma hyopneumoniae and Porcine circovirus, and its Fostera Gold PCV Metastim vaccine to help prevent infection from Porcine circovirus. In the EU, the company received approval for a needle-free microdose of Suvaxyn ® PRRS, a vaccine that helps prevent porcine respiratory and reproductive syndrome. FINANCIAL GUIDANCE Zoetis is raising its full year 2025 guidance due to a strong first-half performance and continued discipline in execution and cost management. Revenue between $9.450 billion to $9.600 billion (organic operational growth of 6.5% to 8.0%) Reported net income between $2.650 billion to $2.700 billion Adjusted net income between $2.825 billion to $2.875 billion (organic operational growth of 5.5% to 7.5%) Reported diluted EPS of $5.90 to $6.00 Adjusted diluted EPS between $6.30 to $6.40 This guidance reflects foreign exchange rates as of late July and the impact of enacted and assumptions on announced 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 second 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 August 5, 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 ZOETIS INC. (a) (UNAUDITED) (millions of dollars, except per share data) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 % Change 2025 2024 % Change Revenue $ 2,460 $ 2,361 4 $ 4,680 $ 4,551 3 Costs and expenses: Cost of sales 649 668 (3 ) 1,271 1,311 (3 ) Selling, general and administrative expenses 617 581 6 1,180 1,128 5 Research and development expenses 172 171 1 329 333 (1 ) Amortization of intangible assets 33 35 (6 ) 65 72 (10 ) Restructuring charges and certain acquisition and divestiture-related costs 30 42 (29 ) 30 46 (35 ) Interest expense, net of capitalized interest 53 59 (10 ) 107 117 (9 ) Other (income)/deductions–net 4 25 (84 ) (14 ) 17 * Income before provision for taxes on income 902 780 16 1,712 1,527 12 Provision for taxes on income 184 156 18 363 304 19 Net income before allocation to noncontrolling interests 718 624 15 1,349 1,223 10 Less: Net income/(loss) attributable to noncontrolling interests — — * — — * Net income attributable to Zoetis Inc. $ 718 $ 624 15 $ 1,349 $ 1,223 10 Earnings per share attributable to Zoetis—basic $ 1.61 $ 1.37 18 $ 3.02 $ 2.68 13 Earnings per share attributable to Zoetis—diluted $ 1.61 $ 1.37 18 $ 3.02 $ 2.67 13 Weighted-average shares used to calculate earnings per share Basic 445.1 455.5 446.3 456.7 Diluted 445.5 456.0 446.7 457.4 (a) The condensed consolidated statements of income present the three and six months ended June 30, 2025 and 2024. Subsidiaries operating outside the United States are included for the three and six months ended May 31, 2025 and 2024. * Calculation not meaningful. Expand ZOETIS INC. RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION CERTAIN LINE ITEMS (UNAUDITED) (millions of dollars, except per share data) Three Months Ended June 30, 2025 GAAP Reported (a) Purchase Accounting Adjustments Acquisition and Divestiture- Related Costs (1) Certain Significant Items (2) Non-GAAP Adjusted (b) Cost of sales $ 649 $ (1 ) $ — $ (1 ) $ 647 Gross profit 1,811 1 — 1 1,813 Selling, general and administrative expenses 617 (3 ) — (9 ) 605 Amortization of intangible assets 33 (28 ) — — 5 Restructuring charges and certain acquisition and divestiture-related costs 30 — (1 ) (29 ) — Other (income)/deductions–net 4 — — (8 ) (4 ) Income before provision for taxes on income 902 33 1 47 983 Provision for taxes on income 184 7 — 9 200 Net income attributable to Zoetis 718 26 1 38 783 Earnings per common share attributable to Zoetis–diluted 1.61 0.06 — 0.09 1.76 Three Months Ended June 30, 2024 GAAP Reported (a) Purchase Accounting Adjustments Acquisition and Divestiture- Related Costs (1) Certain Significant Items (2) Non-GAAP Adjusted (b) Cost of sales $ 668 $ (1 ) $ — $ — $ 667 Gross profit 1,693 1 — — 1,694 Selling, general and administrative expenses 581 (3 ) — — 578 Amortization of intangible assets 35 (31 ) — — 4 Restructuring charges and certain acquisition and divestiture-related costs 42 — (5 ) (37 ) — Other (income)/deductions–net 25 — — (33 ) (8 ) Income before provision for taxes on income 780 35 5 70 890 Provision for taxes on income 156 8 1 14 179 Net income attributable to Zoetis 624 27 4 56 711 Earnings per common share attributable to Zoetis–diluted 1.37 0.06 0.01 0.12 1.56 (a) The condensed consolidated statements of income present the three months ended June 30, 2025 and 2024. Subsidiaries operating outside the United States are included for the three months ended May 31, 2025 and 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 notes (1) and (2). Expand ZOETIS INC. CERTAIN LINE ITEMS (UNAUDITED) (millions of dollars, except per share data) Six Months Ended June 30, 2025 Cost of sales $ 1,271 $ (2 ) $ — $ (2 ) $ 1,267 Gross profit 3,409 2 — 2 3,413 Selling, general and administrative expenses 1,180 (6 ) — (15 ) 1,159 Research and development expenses 329 (1 ) — — 328 Amortization of intangible assets 65 (56 ) — — 9 Restructuring charges and certain acquisition and divestiture-related costs 30 — (1 ) (29 ) — Other (income)/deductions–net (14 ) — — (7 ) (21 ) Income before provision for taxes on income 1,712 65 1 53 1,831 Provision for taxes on income 363 14 — 9 386 Net income attributable to Zoetis 1,349 51 1 44 1,445 Earnings per common share attributable to Zoetis–diluted 3.02 0.11 — 0.10 3.23 Six Months Ended June 30, 2024 GAAP Reported (a) Purchase Accounting Adjustments Acquisition and Divestiture- Related Costs (1) Certain Significant Items (2) Non-GAAP Adjusted (b) Cost of sales $ 1,311 $ (2 ) $ — $ — $ 1,309 Gross profit 3,240 2 — — 3,242 Selling, general and administrative expenses 1,128 (6 ) — — 1,122 Research and development expenses 333 (1 ) — — 332 Amortization of intangible assets 72 (63 ) — — 9 Restructuring charges and certain acquisition and divestiture-related costs 46 — (5 ) (41 ) — Other (income)/deductions–net 17 — — (35 ) (18 ) Income before provision for taxes on income 1,527 72 5 76 1,680 Provision for taxes on income 304 16 1 14 335 Net income attributable to Zoetis 1,223 56 4 62 1,345 Earnings per common share attributable to Zoetis–diluted 2.67 0.12 0.01 0.14 2.94 (a) The condensed consolidated statements of income present the six months ended June 30, 2025 and 2024. Subsidiaries operating outside the United States are included for the six months ended May 31, 2025 and 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 notes (1) and (2). Expand ZOETIS INC. NOTES TO RECONCILIATION OF GAAP REPORTED TO NON-GAAP ADJUSTED INFORMATION CERTAIN LINE ITEMS (UNAUDITED) (millions of dollars) (1) Acquisition and divestiture-related costs include the following: Six Months Ended June 30, 2025 2024 2025 2024 Acquisition-related costs (a) $ 1 $ 1 $ 1 $ 1 Divestiture-related costs (b) — 4 — 4 Total acquisition and divestiture-related costs—pre-tax 1 5 1 5 Income taxes (c) — 1 — 1 Total acquisition and divestiture-related costs—net of tax $ 1 $ 4 $ 1 $ 4 (a) Acquisition-related costs represent external, incremental costs that directly relate to transacting and integrating businesses, included in Restructuring charges and certain acquisition and divestiture-related costs. (b) Divestiture-related costs consisted of costs related to the sale of our medicated feed additive product portfolio, certain water soluble products and related assets, included in Restructuring charges and certain acquisition and divestiture-related costs. (c) 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 (2) Certain significant items include the following: Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Other restructuring charges and cost-reduction/productivity initiatives (a) $ 7 $ 37 $ 7 $ 41 Business process transformation program (b) 11 — 18 — Certain asset impairment charges (c) 27 11 27 11 Net loss on sale of business (d) 3 22 3 22 Other (1 ) — (2 ) 2 Total certain significant items—pre-tax 47 70 53 76 Income taxes (e) 9 14 9 14 Total certain significant items—net of tax $ 38 $ 56 $ 44 $ 62 (a) For the three and six months ended June 30, 2025, primarily consisted of employee termination costs related to a transition from internal to external innovation and manufacturing of certain products and the closure of a related site, included in Restructuring charges and certain acquisition and divestiture-related costs. For the three and six months ended June 30, 2024, primarily consisted of employee termination costs related to organizational structure refinements, included in Restructuring charges and certain acquisition and divestiture-related costs. For the six months ended June 30, 2024, charges were partially offset by a reversal of certain employee termination costs as a result of a change in strategy from our 2015 operational efficiency initiative. (b) Represents costs related to our multi-year business process transformation program, which includes the implementation of a new enterprise resource planning (ERP) system, related digital technology solutions and other related costs, included in Selling, general and administrative expenses and Cost of sales. This comprehensive program is a major global and cross-functional company-wide effort that we believe will transform how we work across our business and contribute to all of our strategic priorities. Due to the nature, scope and magnitude of this investment, these costs are incremental transformational costs that are far in excess of the historical normal level of spending to support operations and are not expected to recur in the foreseeable future. (c) For the three and six months ended June 30, 2025, represents certain asset impairment charges related to a transition from internal to external innovation and manufacturing of certain products and the closure of a related site, included in Restructuring charges and certain acquisition and divestiture-related costs, as well as charges related to our aquaculture product portfolio included in Other (income)/deductions–net. For the three and six months ended June 30, 2024, represents certain asset impairment charges related to our aquaculture product portfolio included in Other (income)/deductions–net. (d) Represents a net loss related to the sale of our medicated feed additive product portfolio, certain water soluble products and related assets sold in 2024, included in Other (income)/deductions–net. (e) 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) (millions of dollars) Three Months Ended June 30, % Change 2025 2024 Total Foreign Exchange Operational (b) Divestitures Organic Operational (c) Adjusted cost of sales $ 647 $ 667 (3 )% (6 )% 3 % as a percent of revenue 26.3 % 28.3 % NA NA NA Adjusted SG&A expenses 605 578 5 % (1 )% 6 % Adjusted R&D expenses 171 171 — % (1 )% 1 % Adjusted net income 783 711 10 % 3 % 7 % (3 )% 10 % Six Months Ended June 30, % Change 2025 2024 Total Foreign Exchange Operational (b) Divestitures Organic Operational (c) Adjusted cost of sales $ 1,267 $ 1,309 (3 )% (8 )% 5 % as a percent of revenue 27.1 % 28.8 % NA NA NA Adjusted SG&A expenses 1,159 1,122 3 % (2 )% 5 % Adjusted R&D expenses 328 332 (1 )% — % (1 )% Adjusted net income 1,445 1,345 7 % 3 % 4 % (4 )% 8 % (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 results excluding the impact of foreign exchange and certain acquisitions and divestitures. Expand Reconciliations of 2025 reported guidance to 2025 adjusted guidance follows: (millions of dollars, except per share amounts) Reported Certain significant items and acquisition and divestiture-related costs (d) Purchase accounting Adjusted (b) Cost of sales as a percentage of revenue ~ 28.2% ~ (0.1%) ~ (0.1%) ~ 28.0% SG&A expenses $2,395 to $2,445 ~ $(30) ~ $(10) $2,355 to $2,405 R&D expenses $692 to $702 ~ $(2) $690 to $700 Interest expense and other (income)/deductions-net ~ $170 ~ $170 Effective tax rate ~ 21% ~ 21% Diluted EPS $5.90 to $6.00 ~ $0.15 ~ $0.25 $6.30 to $6.40 Net income attributable to Zoetis $2,650 to $2,700 ~ $75 ~ $100 $2,825 to $2,875 (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 June 30, % Change 2025 2024 Total Foreign Exchange Operational (b) Divestitures Organic Operational (c) Revenue: Companion Animal $ 1,788 $ 1,649 8 % — % 8 % — % 8 % Livestock 638 694 (8 )% (2 )% (6 )% (12 )% 6 % Contract Manufacturing & Human Health 34 18 89 % (2 )% 91 % — % 91 % Total Revenue $ 2,460 $ 2,361 4 % (1 )% 5 % (3 )% 8 % U.S.: Companion Animal $ 1,176 $ 1,080 9 % — % 9 % — % 9 % Livestock 180 228 (21 )% — % (21 )% (19 )% (2 )% Total U.S. Revenue $ 1,356 $ 1,308 4 % — % 4 % (3 )% 7 % International: Companion Animal $ 612 $ 569 8 % — % 8 % — % 8 % Livestock 458 466 (2 )% (3 )% 1 % (9 )% 10 % Total International Revenue $ 1,070 $ 1,035 3 % (2 )% 5 % (4 )% 9 % Companion Animal: Dogs and Cats $ 1,716 $ 1,581 9 % — % 9 % Horses 72 68 6 % — % 6 % Total Companion Animal Revenue $ 1,788 $ 1,649 8 % — % 8 % Livestock: Cattle $ 320 $ 350 (9 )% (3 )% (6 )% Swine 119 130 (8 )% (1 )% (7 )% Poultry 103 132 (22 )% (1 )% (21 )% Fish 74 62 19 % 1 % 18 % Sheep and other 22 20 10 % 1 % 9 % Total Livestock Revenue $ 638 $ 694 (8 )% (2 )% (6 )% (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 revenue results (a non-GAAP financial measure) is defined as revenue results excluding the impact of foreign exchange and certain acquisitions and divestitures. Expand June 30, % Change 2025 2024 Total Foreign Exchange Operational (b) Divestitures Organic Operational (c) Revenue: Companion Animal $ 3,334 $ 3,099 8 % (1 )% 9 % — % 9 % Livestock 1,283 1,414 (9 )% (3 )% (6 )% (13 )% 7 % Contract Manufacturing & Human Health 63 38 66 % (4 )% 70 % — % 70 % Total Revenue $ 4,680 $ 4,551 3 % (2 )% 5 % (4 )% 9 % U.S.: Companion Animal $ 2,149 $ 1,978 9 % — % 9 % — % 9 % Livestock 390 493 (21 )% — % (21 )% (19 )% (2 )% Total U.S. Revenue $ 2,539 $ 2,471 3 % — % 3 % (4 )% 7 % International: Companion Animal $ 1,185 $ 1,121 6 % (3 )% 9 % — % 9 % Livestock 893 921 (3 )% (5 )% 2 % (9 )% 11 % Total International Revenue $ 2,078 $ 2,042 2 % (4 )% 6 % (4 )% 10 % Companion Animal: Dogs and Cats $ 3,197 $ 2,965 8 % (1 )% 9 % Horses 137 134 2 % (2 )% 4 % Total Companion Animal Revenue $ 3,334 $ 3,099 8 % (1 )% 9 % Livestock: Cattle $ 678 $ 741 (9 )% (5 )% (4 )% Swine 230 257 (11 )% (4 )% (7 )% Poultry 209 271 (23 )% (3 )% (20 )% Fish 127 107 19 % (1 )% 20 % Sheep and other 39 38 3 % (1 )% 4 % Total Livestock Revenue $ 1,283 $ 1,414 (9 )% (3 )% (6 )% (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 revenue results (a non-GAAP financial measure) is defined as revenue results 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 June 30, % Change 2025 2024 Total Foreign Exchange Operational (a) Total International $ 1,070 $ 1,035 3 % (2 )% 5 % Australia 83 83 — % (4 )% 4 % Brazil 93 99 (6 )% (11 )% 5 % Canada 73 75 (3 )% (3 )% — % Chile 36 31 16 % (3 )% 19 % China 72 68 6 % — % 6 % France 33 34 (3 )% 3 % (6 )% Germany 58 58 — % 1 % (1 )% Italy 38 36 6 % 4 % 2 % Japan 45 39 15 % 5 % 10 % Mexico 38 46 (17 )% (17 )% — % Spain 37 33 12 % 4 % 8 % United Kingdom 77 73 5 % 4 % 1 % Other developed markets 162 138 17 % 2 % 15 % Other emerging markets 225 222 1 % (1 )% 2 % Six Months Ended June 30, % Change 2025 2024 Total Foreign Exchange Operational (a) Total International $ 2,078 $ 2,042 2 % (4 )% 6 % Australia 158 156 1 % (5 )% 6 % Brazil 181 200 (10 )% (16 )% 6 % Canada 140 136 3 % (5 )% 8 % Chile 70 62 13 % (2 )% 15 % China 132 144 (8 )% — % (8 )% France 73 75 (3 )% (2 )% (1 )% Germany 109 109 — % (1 )% 1 % Italy 67 64 5 % — % 5 % Japan 81 76 7 % 1 % 6 % Mexico 75 90 (17 )% (16 )% (1 )% Spain 70 65 8 % 1 % 7 % United Kingdom 154 150 3 % 2 % 1 % Other developed markets 295 265 11 % (2 )% 13 % Other emerging markets 473 450 5 % (5 )% 10 % (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 June 30, % Change 2025 2024 Total Foreign Exchange U.S.: Revenue $ 1,356 $ 1,308 4 % — % 4 % Cost of Sales 208 232 (10 )% — % (10 )% Gross Profit 1,148 1,076 7 % — % 7 % Gross Margin 84.7 % 82.3 % Operating Expenses 218 204 7 % — % 7 % Other (income)/deductions-net — — * * * U.S. Earnings $ 930 $ 872 7 % — % 7 % International: Revenue $ 1,070 $ 1,035 3 % (2 )% 5 % Cost of Sales 314 342 (8 )% (9 )% 1 % Gross Profit 756 693 9 % 2 % 7 % Gross Margin 70.7 % 67.0 % Operating Expenses 173 175 (1 )% (3 )% 2 % Other (income)/deductions-net — — * * * International Earnings $ 583 $ 518 13 % 5 % 8 % Total Reportable Segments $ 1,513 $ 1,390 9 % 2 % 7 % Other business activities (c) (134 ) (142 ) (6 )% Reconciling Items: Corporate (d) (321 ) (299 ) 7 % Purchase accounting adjustments (e) (33 ) (35 ) (6 )% Acquisition and divestiture-related costs (f) (1 ) (5 ) (80 )% Certain significant items (g) (47 ) (70 ) (33 )% Other unallocated (h) (75 ) (59 ) 27 % Total Earnings (i) $ 902 $ 780 16 % (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) Acquisition and divestiture-related costs include costs associated with acquiring and integrating newly acquired businesses, such as transaction costs and integration costs, as well as costs associated with divesting and disintegrating a portion of our business. (g) 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, costs related to our business process transformation program, as well as the impact of divestiture gains and losses. (h) Includes overhead expenses associated with our global manufacturing and supply operations not directly attributable to an operating segment, as well as certain procurement costs. (i) Defined as income before provision for taxes on income. * Calculation not meaningful. Expand ZOETIS INC. SEGMENT (a) EARNINGS (UNAUDITED) (millions of dollars) Six Months Ended June 30, % Change 2025 2024 Total Foreign Exchange U.S.: Revenue $ 2,539 $ 2,471 3 % — % 3 % Cost of Sales 407 449 (9 )% — % (9 )% Gross Profit 2,132 2,022 5 % — % 5 % Gross Margin 84.0 % 81.8 % Operating Expenses 423 394 7 % — % 7 % Other (income)/deductions-net — — * * * U.S. Earnings $ 1,709 $ 1,628 5 % — % 5 % International: Revenue $ 2,078 $ 2,042 2 % (4 )% 6 % Cost of Sales 616 655 (6 )% (11 )% 5 % Gross Profit 1,462 1,387 5 % (1 )% 6 % Gross Margin 70.4 % 67.9 % Operating Expenses 327 334 (2 )% (5 )% 3 % Other (income)/deductions-net 1 — * * * International Earnings $ 1,134 $ 1,053 8 % 1 % 7 % Total Reportable Segments $ 2,843 $ 2,681 6 % — % 6 % Other business activities (c) (263 ) (274 ) (4 )% Reconciling Items: Corporate (d) (592 ) (587 ) 1 % Purchase accounting adjustments (e) (65 ) (72 ) (10 )% Acquisition and divestiture-related costs (f) (1 ) (5 ) (80 )% Certain significant items (g) (53 ) (76 ) (30 )% Other unallocated (h) (157 ) (140 ) 12 % Total Earnings (i) $ 1,712 $ 1,527 12 % (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) Acquisition and divestiture-related costs include costs associated with acquiring and integrating newly acquired businesses, such as transaction costs and integration costs, as well as costs associated with divesting and disintegrating a portion of our business. (g) 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, costs related to our business process transformation program, as well as the impact of divestiture gains and losses. (h) Includes overhead expenses associated with our global manufacturing and supply operations not directly attributable to an operating segment, as well as certain procurement costs. (i) Defined as income before provision for taxes on income. * Calculation not meaningful. Expand Contacts Media: Jennifer Albano 1-862-399-0810 (o) Laura Panza 1-973-975-5176 (o) Investor: Steve Frank 1-973-822-7141 (o) Nick Soonthornchai 1-973-443-2792 (o) Industry: Science Biotechnology Research Pharmaceutical Health FDA Medical Devices Clinical Trials More News From Zoetis Inc. Get RSS Feed Dr. Mark Stetter Elected to Zoetis Board of Directors PARSIPPANY, N.J.--(BUSINESS WIRE)--Zoetis Inc. (NYSE: ZTS) today announced the election of Dr. Mark Stetter to its Board of Directors, effective as of the company's annual shareholder meeting on May 21, 2025. Dr. Stetter brings extensive experience in veterinary medicine and animal health, including as Dean of the University of California, Davis School of Veterinary Medicine, to the Zoetis Board. His career in animal health includes pets, livestock, exotic animals, research and wildlife. He wil...
Business Wire
01-07-2025
- Business
- Business Wire
Zoetis to Host Webcast and Conference Call on Second Quarter 2025 Financial Results
PARSIPPANY, N.J.--(BUSINESS WIRE)-- Zoetis Inc. (NYSE:ZTS) will host a webcast and conference call at 8:30 a.m. (ET) on Tuesday, August 5, 2025. Chief Executive Officer Kristin Peck and Executive Vice President and Chief Financial Officer Wetteny Joseph will review second 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 August 5, 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-COR ZTS-IR
Yahoo
25-06-2025
- Business
- Yahoo
Stifel Downgrades Zoetis (ZTS) Stock, Reduces PT
Zoetis Inc. (NYSE:ZTS) is one of the 10 Worst Aggressive Growth Stocks to Buy According to Short Sellers. On June 18, Stifel analyst Jonathan Block downgraded Zoetis Inc. (NYSE:ZTS)'s stock to 'Hold' from 'Buy,' reducing the price objective to $160 from $165. The firm warned that revenue growth might fall short of Wall Street expectations over the upcoming 2 years as competition intensifies throughout key product categories. While there are longer-term opportunities in oncology and kidney disease, the firm believes that these markets will develop more slowly. A veterinarian administering a vaccine to a herd of cattle in a farm. As per the firm, while Zoetis Inc. (NYSE:ZTS) dealt effectively with competition in the past, this time the competition might prove to be more successful. Stifel's survey identified that there is robust veterinarian interest in Merck's pending Atopic Dermatitis JAK inhibitor and Elanco's CQ – chloroquine. However, Zoetis Inc. (NYSE:ZTS) continues to advance innovation and care for animals throughout the globe. Simparica Trio gained a new label indication in the US to prevent Dipylidium caninum (flea tapeworm) infections by killing Ctenocephalides felis vector fleas in treated dogs. Now, Simparica Trio happens to be the only canine combination parasiticide indicated to prevent flea tapeworm infections, at the source, by killing vector fleas before the transmission. Polen Capital, an investment management company, released its Q4 2024 investor letter. Here is what the fund said: 'Zoetis Inc. (NYSE:ZTS) and Adobe were also notable absolute detractors. Zoetis has been posting excellent growth on the back of its pain and dermatology franchises for quite some time, and its core companion animal business has been firing on all cylinders. Despite this, the stock has come under pressure due to concerns about the growth prospects of Librela, its biologic drug for pain in dogs (as well as Solensia, the sister drug for cats). There has been some concern about the side effects of these drugs, but the data disclosed thus far shows a very low level of adverse events, with drugs that prove highly effective in treating pain. We expect strong growth from these and other drugs currently marketed by Zoetis, with more to come from its prolific pipeline. We used the recent weakness to add to our position.' While we acknowledge the potential of ZTS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ZTS and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now Disclosure: None.
