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1ST QUARTER: ZOETIS' REVENUES UP 6%, NET INCOME UP 8%: $595 MILLION
Zoetis reports:

Reports Revenue of $2.0 Billion, Growing 6%, and Net Income of $595 Million, or $1.26 per Diluted Share, Increasing 6% and 8%, Respectively, on a Reported Basis for First Quarter 2022
Delivers 9% Operational Growth in Revenue and 8% Operational Growth in Adjusted Net Income for First Quarter 2022
Reports Adjusted Net Income of $625 Million, or Adjusted Diluted EPS of $1.32, for First Quarter 2022
Updates Full Year 2022 Revenue Guidance to $8.225 - $8.375 Billion, with Diluted EPS of $4.65 to $4.77 on a Reported Basis, or $4.99 to $5.09 on an Adjusted Basis, Due to the Negative Impact of Foreign Exchange Rates

Parsippany, NJ - Zoetis Inc. (NYSE: ZTS) today reported its financial results for the first quarter of 2022 and updated its guidance for full year 2022 due to the negative impact of recent changes in foreign exchange rates. The updated guidance reflects the same operational growth rates for revenue and adjusted net income as stated in the company's previous guidance for 2022.

The company reported revenue of $2.0 billion for the first quarter of 2022, an increase of 6% compared with the first quarter of 2021. Net income for the first quarter of 2022 was $595 million, or $1.26 per diluted share, an increase of 6% and 8%, respectively, on a reported basis.

Adjusted net income1 for the first quarter of 2022 was $625 million, or $1.32 per diluted share, an increase of 4% and 5%, respectively, on a reported basis. Adjusted net income for the first quarter of 2022 excludes the net impact of $30 million for purchase accounting adjustments, acquisition-related costs and certain significant items.

On an operational2 basis, revenue for the first quarter of 2022 increased 9%, excluding the impact of foreign currency. Adjusted net income for the first quarter of 2022 increased 8% operationally, excluding the impact of foreign currency.

To view the complete report, click here.


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