Zoetis Q1 2020 Earnings Report
Key Takeaways
Zoetis reported a revenue of $1.5 billion for Q1 2020, a 5% increase compared to Q1 2019. Net income was $423 million, or $0.88 per diluted share, a 36% increase. Adjusted net income was $455 million, or $0.95 per diluted share, a 7% increase. The company lowered its full year 2020 guidance due to the estimated impact of the COVID-19 outbreak and recessionary conditions.
Revenue in the U.S. segment was $786 million, an increase of 9% compared with the first quarter of 2019.
Revenue in the International segment was $728 million, an increase of 1% on a reported basis and an increase of 4% operationally compared with the first quarter of 2019.
Companion animal sales benefited from the recent acquisitions of Platinum Performance, as well as a number of regional diagnostic reference labs.
Zoetis received approval in the U.S. and Australia for Simparica Trioâ„¢ (sarolaner/moxidectin/pyrantel), a once monthly, chewable tablet for dogs.
Zoetis
Zoetis
Zoetis Revenue by Segment
Zoetis Revenue by Geographic Location
Forward Guidance
Zoetis is lowering its full year 2020 guidance 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 updated guidance includes revenue between $5.950 billion and $6.250 billion and Reported diluted EPS between $2.80 and $3.07.
Revenue & Expenses
Visualization of income flow from segment revenue to net income