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ZTS

Zoetis (ZTS) Q3 2024 Earnings Call Transcript

November 04, 2024 — 12:30 pm EST

Written by

Motley Fool Transcribing for

The Motley Fool->

Image source: The Motley Fool.

Zoetis (NYSE: ZTS)

Q3 2024 Earnings Call

Nov 04, 2024, 8:30 a.m. ET

Contents:

- Prepared Remarks

- Questions and Answers

- Call Participants

Prepared Remarks:

Operator

Welcome to the third quarter 2024 financial results conference call and webcast for Zoetis. Hosting the call today is Steve Frank, vice president of investor relations for Zoetis. The presentation materials and additional financial tables are currently posted on the investor relations section of zoetis.com. The presentation slides can be managed by you, the viewer, and will not be forwarded automatically.

In addition, a replay of this call will be available approximately two hours after the conclusion of this call via dial-in or on the investor relations section of zoetis.com. At this time, all participants have been placed in a listen-only mode, and the floor will be open for your questions following the presentation. [Operator instructions] It is now my pleasure to turn the floor over to Steve Frank. Steve, you may begin.

Steven Frank -- Vice President, Investor Relations

Thank you, operator. Good morning, everyone, and welcome to the Zoetis third quarter 2024earnings call I am joined today by Kristin Peck, our chief executive officer; and Wetteny Joseph, our chief financial officer. Before we begin, I'll remind you that the slides presented on this call are available on the investor relations section of our website and that our remarks today will include forward-looking statements and that actual results could differ materially from those projections.

For a list and description of certain factors that could cause results to differ, I refer you to the forward-looking statement in today's press release and our SEC filings, including, but not limited to, our annual report on Form 10-K and our reports on Form 10-Q. Our remarks today will also include references to certain financial measures, which were not prepared in accordance with generally accepted accounting principles or U.S. GAAP. A reconciliation of these non-GAAP financial measures to the most directly comparable U.S.

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GAAP measures is included in the financial tables that accompany our earnings press release and the company's 8-K filing dated today, Monday, November 4, 2024. We also cite operational results, which exclude the impact of foreign exchange. And with that, I will turn the call over to Kristin.

Kristin C. Peck -- Chief Executive Officer

Thank you, Steve, and good morning, everyone. Thank you for joining our 2024 third quarterearnings call Let me start by thanking our dedicated purpose-driven colleagues who helped us deliver another excellent quarter. Building on the strong momentum from the first half of the year, revenue grew 14% operationally and adjusted net income is up 15% operationally.

We saw balanced double-digit growth across the business. Driven by steady demand for our key franchises, U.S. grew 15%, and international revenue grew 13% operationally. Our innovative companion animal portfolio grew 15% operationally, while livestock grew 11% on an operational basis.

Our consistent growth is fueled by a diverse, durable, and science-driven portfolio. carefully crafted through a deep understanding of our customers' evolving needs. By maintaining a strong focus on innovation, we set the standard for improving patient outcomes, higher customer satisfaction, and strong partnerships with veterinarians and pet owners. Our osteoarthritis pain franchise, Librela and Solensia continues to make a transformative impact by addressing a critical unmet need, delivering 97% operational revenue growth globally.

From our conversations with customers around t