• Mon. May 10th, 2021

Zoetis Announces First Quarter 2020 Results

Zoetis Announces First Quarter 2020 Results

Zoetis Reports Revenue of $1.5 Billion, Growing 5%, and Net Income of $423 Million, or $0.88 per Diluted Share, Increasing 36% and 35%, Respectively, on a Reported Basis for First Quarter 2020

Reports Adjusted Net Income of $455 Million, or Adjusted Diluted EPS of $0.95, for First Quarter 2020

Delivers 7% Operational Growth in Revenue and 10% Operational Growth in Adjusted Net Income for First Quarter 2020

COVID-19 Pandemic Has Minimal Impact on First Quarter Results; Estimated Full-Year Impact Reflected in Lower 2020 Guidance

Updates Full Year 2020 Revenue Guidance to $5.950 – $6.250 Billion and Diluted EPS of $2.80 – $3.07 on a Reported Basis, or $3.17 – $3.42 on an Adjusted Basis

PARSIPPANY, NJ (STL.News) Zoetis Inc. (NYSE: ZTS) today reported its financial results for the first quarter of 2020 and lowered its guidance for full year 2020 to reflect the company’s current view of the estimated full-year impact of the COVID-19 outbreak, recessionary conditions in the global economy, and foreign currency headwinds.

The company reported revenue of $1.5 billion for the first quarter of 2020, an increase of 5% compared with the first quarter of 2019.  Net income for the first quarter of 2020 was $423 million, or $0.88 per diluted share, an increase of 36% and 35%, respectively, on a reported basis.

Adjusted net income1 for the first quarter of 2020 was $455 million, or $0.95 per diluted share, an increase of 7%, on a reported basis.  Adjusted net income for the first quarter of 2020 excludes the net impact of $32 million for purchase accounting adjustments, acquisition-related costs and certain significant items.

On an operational 2 basis, revenue for the first quarter of 2020 increased 7%, excluding the impact of foreign currency.  Adjusted net income for the first quarter of 2020 increased 10% operationally, excluding the impact of foreign currency.

NOTE: this is NOT the complete release.

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Marty Smith

Marty Smith

Marty Smith is the acting Editor in Chief as well as the founder of STL.News, DirectSourceNews.org, and St. Louis Restaurant Review. Additionally, Smith is the IT Manager responsible for STL.News and affiliate sites. Smith has created multiple aggregator sites to manage the large amount of content used to select which content to published on STL.News. As Editor in Chief, Smith is responsible for the content posted on the network with the help of the publishing team, which is located around the globe.