EarningsQ2 2026 Earnings Report
MX:ZTS Q2 2026 EPS Results
Actual EPS$33.96
Consensus EPS$33.63
Beat/MissBeat by +$0.33
One Year Ago EPS$31.96
MX:ZTS Q2 2026 Revenue Results
Actual Revenue$44.82B
Expected Revenue$45.43B
Beat/MissMissed by -$607.58M
YoY Revenue Growth+0.33%
Earnings Announcement Details
QuarterQ2 2026
Date08/06/2026
TimeBefore Open
Conference CallThursday, August 6, 2026
MX:ZTS Upcoming Earnings
Zoetis's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:ZTS Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Negative
The call presented a mixed picture: clear strengths in Livestock, Diagnostics, international and continued pipeline progress, plus disciplined cost and capital return actions. However, material weakness in core Companion Animal markets—especially U.S. Dermatology and parasiticides—intensified competitive promotional activity, declining clinic visits, price realization pressure from gross-to-net investments, generics, and a meaningful downward revision to full-year guidance. While the portfolio diversification and cost actions provide resilience, the near-term trends in the company’s largest franchise create significant headwinds.Company Guidance
Strong Livestock Performance
Livestock revenue grew 11% in Q2 to $731 million (U.S. Livestock up 23% to $222 million), driven by cattle and poultry demand, vaccine wins, hatchery programs, and elevated demand (e.g., New World screwworm response). Management expects mid- to high-single-digit sustainable growth for the business on a normalized basis.
Diagnostics Growth and Strategic Acquisitions
Companion Animal Diagnostics revenue increased 12% in Q2 to $118 million. Company expanded capabilities (Vetscan OptiCell enhancements), acquired VitalRADS (veterinary teleradiology), and continues to advance Vetscan OmniMax with commercial validation expected by year-end.
International Expansion and Emerging Markets Strength
International revenue rose 6% to $1.2 billion with broad-based growth: International Simparica franchise +19% to $134 million, Simparica Trio +34, and International Livestock +6% to $509 million. Emerging markets provided meaningful tailwinds across segments.
Portfolio Diversification and Early Wins in OA Pain
Feline OA pain mAbs grew 12% globally to $42 million and 24% internationally to $24 million. Early contributions from Lenvia and Portela in EU/Canada support broader OA pain expansion and medicalization efforts; launches are progressing.
Cost Discipline and Profitability Actions
Adjusted operating expenses fell 2% operationally; adjusted SG&A down 4% operationally. Adjusted gross margin was 72.9% (ex-FX gross margin improved ~10 bps). Company highlighted targeted cost/productivity programs helping protect profitability despite revenue headwinds.
Capital Return and EPS Lift
Repurchased over $550 million of shares in the quarter, above historical quarterly average. Adjusted diluted EPS for the quarter was $1.87, up 4% year-over-year, benefiting from lower share count.
Pipeline and Longer-Term Innovation
Company emphasized a robust pipeline with 12 potential blockbusters over the next several years; anticipated U.S. approval of long-acting Cytopoint later this year and expansion of long-acting OA pain offerings (Lenivia, Portela) to support future growth.
MX:ZTS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed