Zoetis Q2 FY2026: flat revenue, guidance cut hard
Zoetis reported flat second-quarter revenue of $2.468 billion and adjusted EPS of $1.87, a hair below the $1.8742 consensus, then cut full-year revenue and EPS guidance hard. The read-through is simple: U.S. companion animal demand is the problem, livestock and international sales are the offset, and the balance sheet leaves little room for a long slump.
1 · Expected vs. Actual
Free preview belowGAAP diluted EPS was $1.65, up 1.0% from $1.63, while adjusted diluted EPS was $1.87, up 5.0% from $1.78. Consensus was $1.8742, so the adjusted figure landed about 0.2% below the average estimate rather than beating it. The $0.22 gap between GAAP and adjusted EPS comes mostly from the $90 million of purchase accounting adjustments, deal costs and significant items excluded from adjusted results.
Revenue was $2.468 billion, essentially flat against $2.474 billion a year earlier and down 1.0% on an organic operational basis. The mix tells the story: U.S. revenue fell 7.0% to $1.266 billion while International rose 8.0% to $1.173 billion. Companion animal, the biggest slice, shrank 5.0% to $1.708 billion, offset by livestock up 12.0% to $731 million.
Management cut full-year revenue guidance to $9.120–$9.320 billion from $9.680–$9.960 billion, and adjusted diluted EPS to $6.15–$6.25 from $6.85–$7.00. Adjusted net income is now guided to $2.570–$2.620 billion, described as organic operational growth of (9)% to (5)%. Reported diluted EPS guidance is $5.55–$5.65, so the reset runs all the way down the income statement.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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