Slide 1: First Quarter 2024 Financial Results
First Quarter 2024 Financial Results May 2, 2024
Slide 2: Forward-looking Statements and Non-GAAP Financial Information
Forward-looking Non-GAAP Financial Statements Information This presentation contains forward-looking statements, which reflect the current views of We use non-GAAP* financial measures, such as adjusted net income, adjusted diluted Zoetis with respect to: business plans or prospects, future operating
Slide 3: Kristin Peck, Chief Executive Officer
Kristin Peck Chief Executive Officer
Slide 4: Key Takeaways
FIRST QUARTER FINANCIAL RESULTS Key Takeaways Outstanding Start to 2024 • Generated 12% operational1 revenue growth and a 15% operational increase in adjusted net income2, with U.S. revenue increasing 16% and International revenue up 8% operationally. • Companion animal revenue grew 20% operationall
Slide 5: Wetteny Joseph, Executive Vice President and Chief Financial Officer
Wetteny Joseph Executive Vice President and Chief Financial Officer
Slide 6: Income Statement Highlights
FIRST QUARTER FINANCIAL RESULTS Income Statement Highlights First Quarter 2024* 2023* Change Revenue $2,190 $2,000 10% Reported Net Income 599 552 9% Reported Diluted Earnings Per Share $1.31 $1.19 10% Adjusted Net Income1 634 607 4% Adjusted Diluted Earnings Per Share1 $1.38 $1.31 5% * Millions of
Slide 7: Adjusted Income Statement Highlights
FIRST QUARTER FINANCIAL RESULTS Adjusted Income Statement Highlights First Quarter Foreign 2024* 2023* Change Exchange Operational1 Revenue $2,190 $2,000 10% (2)% 12% Adjusted Cost of Sales2 642 584 10% 4% 6% as a percent of revenue3 29.3% 29.2% NA NA NA Adjusted SG&A Expenses2 544 498 9% (1)% 10% A
Slide 8: U.S. Segment Performance
FIRST QUARTER FINANCIAL RESULTS U.S. Segment Performance First Quarter 2024* 2023* Change Revenue $1,163 $1,005 16% Companion Animal 898 721 25% Livestock 265 284 (7)% Cost of Sales 217 203 7% Gross Profit 946 802 18% Gross Margin 81.3% 79.8% NA Operating Expenses 190 188 1% Other (Income)/Deduction
Slide 9: International Segment Performance
FIRST QUARTER FINANCIAL RESULTS International Segment Performance First Quarter Foreign 2024* 2023* Change Exchange Operational1 Revenue $1,007 $978 3% (5)% 8% Companion Animal 552 504 10% (4)% 14% Livestock 455 474 (4)% (6)% 2% Cost of Sales 313 291 8% 1% 7% Gross Profit 694 687 1% (7)% 8% Gross Ma
Slide 10: International Segment Performance by Country
FIRST QUARTER FINANCIAL RESULTS International Segment Performance First Quarter Foreign 2024* 2023* Change Exchange Operational1 Total International $1,007 $978 3% (5)% 8% Australia $73 $82 (11)% (4)% (7)% Brazil $101 $84 20% 7% 13% Canada $61 $50 22% 1% 21% Chile $31 $39 (21)% (4)% (17)% China $76
Slide 11: Financial Guidance
FIRST QUARTER FINANCIAL RESULTS Financial Guidance Selected Line Items (millions of dollars, except per share amounts) Full Year 2024 Revenue $9,050 to $9,200 Operational growth1 8.5% to 10.5% Adjusted cost of sales as a percentage of revenue2 Approximately 29.8% Adjusted SG&A expenses2 $2,170 to $2
Slide 12: Q&A
Q&A
Slide 13: Appendix
Appendix
Slide 14: Reconciliation Of Reported Growth To Non-GAAP Financial Measures
FIRST QUARTER FINANCIAL RESULTS Reconciliation Of Reported Growth To Non-GAAP Financial Measures Three months ended March 31, 2024* 2023* Change Exchange Operational1 Revenue by Product Category Key Dermatology $360 $290 24% (1)% 25% Key Dermatology (international) 127 106 20% (3)% 23% Diagnostics (
Slide 15: Zoetis
zoetis