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Dec 31, 2023
Zoetis Q4 2023 Earnings Report
Zoetis reported an 8% increase in revenue, reaching $2.2 billion, and a 14% increase in net income, amounting to $525 million for Q4 2023. Adjusted EPS stood at $1.24.
Key Takeaways
Zoetis' Q4 2023 earnings showcased strong performance with revenue reaching $2.2 billion, an 8% increase year-over-year. Net income grew by 14% to $525 million, with adjusted EPS at $1.24. The company's growth was fueled by companion animal products, particularly monoclonal antibody products and dermatology portfolios.
Revenue increased by 8% to $2.2 billion.
Net income rose by 14% to $525 million, or $1.14 per diluted share.
Adjusted net income was $569 million, or $1.24 per diluted share.
Companion animal products drove growth, especially monoclonal antibody products and dermatology portfolios.
Zoetis
Zoetis
Zoetis Revenue by Segment
Zoetis Revenue by Geographic Location
Revenue by Segment
Companion Animal Revenue
CapyFin.comLivestock Revenue
CapyFin.comContract Mfg. & Human Health Revenue
CapyFin.comRevenue by Geographic Location
U.S. Revenue
CapyFin.comInternational Revenue
CapyFin.com Forward Guidance
Zoetis is providing full year 2024 guidance, which includes revenue between $9.075 billion to $9.225 billion (operational growth of 7% to 9%), and adjusted diluted EPS between $5.74 to $5.84.
Positive Outlook
- Revenue between $9.075 billion to $9.225 billion (operational growth of 7% to 9%)
- Adjusted cost of sales as a percentage of revenue approximately 29.5%
- Adjusted SG&A expenses $2,170 to $2,220 million
- Adjusted R&D expenses $665 to $675 million
- Adjusted diluted EPS between $5.74 to $5.84
Challenges Ahead
- Adjusted interest expense and other (income)/deductions-net Approximately $210 million
- Effective tax rate on adjusted income 20.0% to 21.0%
- Adjusted net income $2,650 to $2,700 million (operational growth of 9% to 11%)
- Certain significant items and acquisition-related costs $70 - $75 million
- This guidance reflects foreign exchange rates as of late January 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income