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Zoetis Inc. (ZTS) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Zoetis Inc.

CIK: 1555280 Ticker: ZTS
EXHIBIT 99.1



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Zoetis Announces Third Quarter 2019 Results

Reports Revenue of $1.6 Billion, Growing 7%, and Net Income of $433 Million, or $0.90 per Diluted Share, Increasing 25% and 27%, Respectively, on a Reported Basis for Third Quarter 2019
Reports Adjusted Net Income of $455 Million, or Adjusted Diluted EPS of $0.94, for Third Quarter 2019
Delivers 9% Operational Growth in Revenue and 10% Operational Growth in Adjusted Net Income for Third Quarter 2019
Updates Full Year 2019 Revenue Guidance to $6.200 - $6.250 Billion and Diluted EPS of $2.99 - $3.08 on a Reported Basis, or $3.57 - $3.62 on an Adjusted Basis

PARSIPPANY, N.J. - Nov. 7, 2019 - Zoetis Inc. (NYSE: ZTS) today reported its financial results for the third quarter of 2019 and updated its guidance for full year 2019.

The company reported revenue of $1.6 billion for the third quarter of 2019, an increase of 7% compared with the third quarter of 2018. Net income for the third quarter of 2019 was $433 million, or $0.90 per diluted share, an increase of 25% and 27%, respectively, on a reported basis.

Adjusted net income1 for the third quarter of 2019 was $455 million, or $0.94 per diluted share, an increase of 13%, on a reported basis. Adjusted net income for the third quarter of 2019 excludes the net impact of $22 million for purchase accounting adjustments, acquisition-related costs and certain significant items.

On an operational2 basis, revenue for the third quarter of 2019 increased 9%, excluding the impact of foreign currency. Adjusted net income for the third quarter of 2019 increased 10% operationally, excluding the impact of foreign currency.

EXECUTIVE COMMENTARY
“Our strong performance continues, with 9% operational revenue growth in the third quarter,” said Juan Ramón Alaix, Chief Executive Officer at Zoetis. “Our companion animal portfolio is once again the main driver of our results, growing 23% operationally based on strong sales of our parasiticide products, our key dermatology portfolio, and diagnostic revenue from the Abaxis acquisition.

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The following information was filed by Zoetis Inc. (ZTS) on Thursday, November 7, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Zoetis Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Equity (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Accounting Standards
Accounting Standards (Policies)
Acquisitions And Divestitures
Acquisitions And Divestitures (Details)
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Consideration Transferred (Details)
Acquisitions And Divestitures - Preliminary Fair Values Allocated (Details)
Acquisitions And Divestitures - Supplemental Pro Forma Financial Information (Details)
Basis Of Presentation
Commitments And Contingencies
Commitments And Contingencies (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Financial Instruments
Financial Instruments (Tables)
Financial Instruments - Commercial Paper Program (Details)
Financial Instruments - Credit Facilities (Details)
Financial Instruments - Fair Value Of Debt (Details)
Financial Instruments - Fair Value Of Derivative Instruments (Details)
Financial Instruments - Foreign Exchange Risk (Details)
Financial Instruments - Interest Rate Risk (Details)
Financial Instruments - Investments (Details)
Financial Instruments - Long-Term Debt Maturity (Details)
Financial Instruments - Schedule Of Long-Term Debt (Details)
Financial Instruments - Senior Notes Offering And Other Long-Term Debt (Details)
Financial Instruments Cross-Currency Interest Rate Swap Contracts (Details)
Financial Instruments Derivative Notional Amounts (Details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (Tables)
Goodwill And Other Intangible Assets - Goodwill (Details)
Goodwill And Other Intangible Assets - Narrative (Details)
Goodwill And Other Intangible Assets - Other Intangible Assets (Details)
Income Taxes
Income Taxes - Deferred Taxes (Details)
Income Taxes - Tax Contingencies (Details)
Income Taxes - Taxes On Income (Details)
Inventories
Inventories (Details)
Inventories (Tables)
Leases
Leases (Details)
Leases (Tables)
Organization
Organization (Details)
Other (Income)/Deductions - Net
Other (Income)/Deductions - Net (Details)
Other (Income)/Deductions - Net (Tables)
Restructuring Charges And Other Costs Associated With Acquisitions And Cost-Reduction/Productivity Initiatives
Restructuring Charges And Other Costs Associated With Acquisitions And Cost-Reduction/Productivity Initiatives (Details)
Restructuring Charges And Other Costs Associated With Acquisitions And Cost-Reduction/Productivity Initiatives (Tables)
Revenue
Revenue - Narrative (Details)
Revenue - Revenue By Geographic Area (Details)
Revenue - Revenue By Major Species (Details)
Revenue - Revenue By Product (Details)
Revenue - Revenue By Species (Details)
Revenue Revenue Recognition And Deferred Revenue (Tables)
Segment Information
Segment Information (Details)
Segment Information Segment Information (Tables)
Segment Information Selected Statement Of Income (Details)
Segment Information Selected Statement Of Income Narrative (Details)
Share-Based Payments
Share-Based Payments (Tables)
Share-Based Payments - Components Of Share-Based Compensation Expense (Details)
Share-Based Payments - Narrative (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Changes In Accumulated Other Comprehensive Loss (Details)
Stockholders' Equity - Changes In Common Shares And Treasury Stock (Details)
Ticker: ZTS
CIK: 1555280
Form Type: 10-Q Quarterly Report
Accession Number: 0001555280-19-000270
Submitted to the SEC: Thu Nov 07 2019 7:51:29 AM EST
Accepted by the SEC: Thu Nov 07 2019
Period: Monday, September 30, 2019
Industry: Pharmaceutical Preparations

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