Zoetis Announces 2015 Q2 Results

Zoetis Chief Financial Officer, Paul Herendeen said, “With our operational efficiency initiative, we have begun the process to re-shape our business around the key products, markets and manufacturing sites that will make us an even stronger and more profitable leader in animal health. Execution of these plans is underway. We are pleased to see continued efficiency and expense control in this quarter’s results, along with excellent sales growth, and we are updating our full year guidance for 2015 and reaffirming our long-term goals for 2016 and 2017.”

Summarized results of Zoetis' second quarter: 

• Delivers 11% Operational Revenue Growth and 20% Operational Growth in Adjusted Net Income, Excluding Foreign Exchange
• Records $263 Million in Charges Related to Comprehensive Operational Efficiency Initiative, Resulting in Net Loss of $37 Million, or Net Loss per Diluted Share of $0.07
• Second Quarter 2015 Revenue of $1.2 Billion Increased 1%
• Second Quarter 2015 Adjusted Net Income of $216 Million, or Adjusted Diluted EPS of $0.43, Increased 14% and 13%, Respectively
• Updates Full Year 2015 Revenue Guidance to $4.700 - $4.775 Billion
• Updates Full Year 2015 Adjusted Diluted EPS Guidance to $1.63 - $1.68

The full report may be found here.

Zoetis Chief Executive Officer, Juan Ramón Alaix said, “In the second quarter, we generated operational revenue growth of 11% based on the strength and diversity of our business. Our adjusted net income grew 20% operationally, and we continue delivering our long-term value proposition to shareholders -- growing adjusted net income faster than sales. The growth this quarter was driven by the positive performance of our portfolio in both companion animal and livestock products, the addition of Abbott Animal Health products, the growth of APOQUEL® and other new products, and the continued discipline on operating expenses. Our broad portfolio, proven business model and dedicated Zoetis colleagues enabled us to deliver these results as we began implementing significant changes to become more competitive and profitable. We remain committed to maintaining our commercial, R&D and manufacturing strengths, while reducing complexity in our business and achieving our efficiency goals.”