Zoetis Inc. Class A (ZTS) reports earnings
Zoetis Inc. Class A (ZTS) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total revenue of $9.256 billion, an 8% increase from $8.544 billion in 2023. This growth was driven by a 13% increase in companion animal product sales, while livestock product sales remained flat.
The U.S. segment contributed $5.074 billion to total revenue, reflecting an 11% increase, primarily due to growth in sales of Simparica Trio, Librela, Solensia, and key dermatology products.
International revenue grew by 5% to $4.102 billion, with operational growth of 10% when excluding foreign exchange impacts. This was driven by increased sales in companion animal products and growth in cattle, poultry, and fish product sales.
Cost of sales as a percentage of revenue decreased to 29.4% from 30.0% in the prior year, attributed to price increases and favorable product mix.
Selling, general, and administrative expenses increased by 8% to $2.318 billion, primarily due to higher compensation-related costs and increased advertising expenses.
Research and development expenses rose by 12% to $686 million, reflecting increased project investments and compensation costs.
Net income attributable to Zoetis was $2.486 billion, a 6% increase from $2.344 billion in 2023. Adjusted net income was $2.693 billion, up 10% from the previous year.
The effective tax rate remained consistent at 20.3% for 2024, with changes in jurisdictional mix of earnings and benefits related to foreign-derived intangible income.
Zoetis completed the divestiture of its medicated feed additive product portfolio, contributing to a net loss on sale of businesses of $25 million.
The company repurchased 10.4 million shares for $1.8 billion under its share repurchase program and declared dividends of $1.796 per share for the year.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Zoetis Inc. Class A annual 10-K report dated February 13, 2025. To report an error, please email [email protected].