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Feb. 14, 2025 Source: Zoetis news release PARSIPPANY, N.J. -- Zoetis Inc. (NYSE: ZTS) today reported its financial results for the fourth quarter and full year 2024 as well as provided full year guidance for 2025. The company reported revenue of $2.3 billion for the fourth quarter of 2024, an increase of 5% compared with the fourth quarter of 2023. On an operational1 basis, revenue for the fourth quarter of 2024 increased 6% compared with the fourth quarter of 2023. Net income for the fourth quarter of 2024 was $581 million, or $1.29 per diluted share, an increase of 11% and 13%, respectively, on a reported basis. Adjusted net income2 for the fourth quarter of 2024 was $632 million, or $1.40 per diluted share, an increase of 11% and 13%, respectively, on a reported basis, and an increase of 9% and 12%, respectively, on an operational basis. Adjusted net income for the fourth quarter of 2024 excludes the net impact of $51 million for purchase accounting adjustments, acquisition and divestiture-related costs, and certain significant items. For full year 2024, the company reported revenue of $9.3 billion, an increase of 8% compared with full year 2023. On an operational basis, revenue for full year 2024 increased 11%, excluding the impact of foreign currency. Net income for full year 2024 was $2.5 billion, or $5.47 per diluted share, an increase of 6% and 8%, respectively, on a reported basis. Adjusted net income for full year 2024 was $2.7 billion, or $5.92 per diluted share, an increase of 10% and 11%, respectively, on a reported basis, and 15% and 17%, respectively, on an operational basis. Adjusted net income for full year 2024 excludes the net impact of $207 million for purchase accounting adjustments, acquisition and divestiture-related costs, and certain significant items. Organic Operational Growth3 As previously announced, on October 31, 2024, Zoetis completed the divestiture of its medicated feed additive (MFA) product portfolio, certain water soluble products and related assets. As a result of this transaction, the company is providing organic operational revenue growth, which excludes the impact of all divested products as well as foreign exchange. For the fourth quarter of 2024, the organic operational growth rate was 9%, and for the full year 2024 the organic operational growth rate was 12%. The company will continue to provide this metric in 2025 and has included it in the financial guidance below. EXECUTIVE COMMENTARY "Zoetis delivered excellent full year results in 2024, driven by the demand for our innovative products and the strength of our key franchises," said Kristin Peck, Chief Executive Officer of Zoetis. "We achieved 11% revenue growth in the U.S. and 10% operational revenue growth internationally, marking significant revenue milestones, and our companion animal and livestock portfolios saw strong operational revenue growth, 14% and 5%, respectively." "As we approach 2025, we are eager to continue the momentum we realized in 2024, and we are confident that the drivers of our success are sustainable, positioning us for continued above-market growth this year and beyond. We are guiding to full-year organic operational growth of 6% to 8% in revenue in 2025," said Peck. To read the entire report click here. Tweet |
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