Zoetis Inc. Files Q3 2024 10-Q Report
Ticker: ZTS · Form: 10-Q · Filed: Nov 4, 2024 · CIK: 1555280
| Field | Detail |
|---|---|
| Company | Zoetis Inc. (ZTS) |
| Form Type | 10-Q |
| Filed Date | Nov 4, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Zoetis Q3 2024 10-Q filed. Financials look solid.
AI Summary
Zoetis Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the year. Key financial data and operational details for this period are presented, reflecting the company's performance in the animal health sector.
Why It Matters
This report provides investors with a detailed look at Zoetis' financial health and operational performance for the third quarter of 2024, crucial for understanding the company's trajectory in the animal health market.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- Zoetis Inc. (company) — Filer of the 10-Q report
- 2024-09-30 (date) — End of the reporting period
- 2024-11-04 (date) — Filing date of the report
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on November 4, 2024.
What is Zoetis Inc.'s Standard Industrial Classification code?
Zoetis Inc.'s SIC code is 2834, for Pharmaceutical Preparations.
What is the company's primary business address?
Zoetis Inc.'s business address is 10 Sylvan Way, Parsippany, NJ 07054.
What fiscal year end does Zoetis Inc. report?
Zoetis Inc. reports its fiscal year end as December 31.
Filing Stats: 4,799 words · 19 min read · ~16 pages · Grade level 14.6 · Accepted 2024-11-04 13:52:13
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share ZTS New York Stock Exchange
Filing Documents
- zts-20240930.htm (10-Q) — 2318KB
- a10qex311q32024.htm (EX-31.1) — 9KB
- a10qex312q32024.htm (EX-31.2) — 9KB
- a10qex321q32024.htm (EX-32.1) — 4KB
- a10qex322q32024.htm (EX-32.2) — 4KB
- 0001555280-24-000332.txt ( ) — 10744KB
- zts-20240930.xsd (EX-101.SCH) — 58KB
- zts-20240930_cal.xml (EX-101.CAL) — 87KB
- zts-20240930_def.xml (EX-101.DEF) — 367KB
- zts-20240930_lab.xml (EX-101.LAB) — 740KB
- zts-20240930_pre.xml (EX-101.PRE) — 564KB
- zts-20240930_htm.xml (XML) — 1853KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION 1
Financial Statements
Item 1. Financial Statements 1 Condensed Consolidated Statements of Income (Unaudited) 1 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 2 Condensed Consolidated Balance Sheets (Unaudited) 3 Condensed Consolidated Statements of Equity (Unaudited) 4 Condensed Consolidated Statements of Cash Flows (Unaudited) 6 Notes to Condensed Consolidated Financial Statements (Unaudited) 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 23
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 41
Controls and Procedures
Item 4. Controls and Procedures 41
— OTHER INFORMATION
PART II — OTHER INFORMATION 42
Legal Proceedings
Item 1. Legal Proceedings 42
Risk Factors
Item 1A. Risk Factors 42
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42
Defaults Upon Senior Securities 42
Item 3. Defaults Upon Senior Securities 42
Mine Safety Disclosures 42
Item 4. Mine Safety Disclosures 42
Other Information 42
Item 5. Other Information 42
Exhibits
Item 6. Exhibits 43
SIGNATURES
SIGNATURES 44 Table of Contents
– FINANCIAL INFORMATION
PART I – FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements ZOETIS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) Three Months Ended Nine Months Ended September 30, September 30, (MILLIONS OF DOLLARS AND SHARES, EXCEPT PER SHARE DATA) 2024 2023 2024 2023 Revenue $ 2,388 $ 2,151 $ 6,939 $ 6,331 Costs and expenses: Cost of sales 701 638 2,012 1,833 Selling, general and administrative expenses 565 525 1,693 1,586 Research and development expenses 167 152 500 440 Amortization of intangible assets 35 38 107 112 Restructuring charges and certain acquisition and divestiture-related costs 5 16 51 45 Interest expense, net of capitalized interest 57 59 174 180 Other (income)/deductions—net ( 16 ) 6 1 ( 151 ) Income before provision for taxes on income 874 717 2,401 2,286 Provision for taxes on income 182 121 486 469 Net income before allocation to noncontrolling interests 692 596 1,915 1,817 Less: Net income/(loss) attributable to noncontrolling interests 10 — 10 ( 2 ) Net income attributable to Zoetis Inc. $ 682 $ 596 $ 1,905 $ 1,819 Earnings per share attributable to Zoetis Inc. stockholders: Basic $ 1.51 $ 1.29 $ 4.18 $ 3.94 Diluted $ 1.50 $ 1.29 $ 4.18 $ 3.93 Weighted-average common shares outstanding: Basic 452.9 460.3 455.4 461.9 Diluted 453.5 461.4 456.1 463.0 Dividends declared per common share $ — $ — $ 0.864 $ 0.750 See notes to condensed consolidated financial statements. 1 | Table of Contents ZOETIS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Nine Months Ended September 30, September 30, (MILLIONS OF DOLLARS) 2024 2023 2024 2023 Net income before allocation to noncontrolling interests $ 692 $ 596 $ 1,915 $ 1,817 Other comprehensive (loss)/income, net of tax (a) : Unrealized (losses)/gains on derivatives for cash flow hedges, net of tax of $( 1 ) and $ 1 for the three months ended September 30, 2024 and 2023, respectively, and $( 1 ) and $ 0 for th