Q2 26 EPS Adjusted
$1.87
BEAT +1.63%
Est. $1.84
Q2 26 Revenue
$2.47B
vs S&P Since Q2 26
+0.3%
BEATING MARKET
ZTS +0.8% vs S&P +0.5%
Market Reaction
Did ZTS Beat Earnings? Q2 2026 Results
Zoetis posted a narrow beat in Q2 2026, but the headline numbers masked a more troubling story underneath. The animal health giant reported adjusted diluted EPS of $1.87, edging past the $1.84 consensus by 1.63%, while revenue of $2.47 billion crept … Read more Zoetis posted a narrow beat in Q2 2026, but the headline numbers masked a more troubling story underneath. The animal health giant reported adjusted diluted EPS of $1.87, edging past the $1.84 consensus by 1.63%, while revenue of $2.47 billion crept just 0.3% higher year-over-year, a result that reflected deep strain in the U.S. Companion Animal segment rather than any broad-based momentum. That segment slid 11% to $1.04 billion, as softer veterinary clinic visits, pet owner price sensitivity, and intensifying competition in dermatology and parasiticide franchises weighed heavily on Simparica Trio and the dermatology portfolio. A 23% surge in U.S. Livestock and 8% international revenue growth cushioned the blow but could not fully offset the domestic weakness. With those headwinds expected to persist, Zoetis sharply lowered its full-year 2026 revenue guidance to $9.12 billion to $9.32 billion and cut adjusted diluted EPS guidance to $6.15 to $6.25, signaling that the recovery in companion animal spending remains elusive.
Key Takeaways
- • U.S. Companion Animal declined 11% due to softer end-market demand, price sensitivity, and generic competition on Cerenia and Convenia
- • U.S. Livestock grew 23% driven by favorable beef cattle producer economics and poultry vaccine demand from disease outbreaks
- • International Companion Animal grew 8% led by parasiticides portfolio including Simparica Trio, Revolution, and Stronghold
- • International Livestock grew 8% driven by cattle and poultry
- • Key dermatology franchise and Simparica Trio faced persistent macro-driven price sensitivity and heightened competitive pressure
ZTS Forward Guidance & Outlook
Zoetis significantly lowered its full year 2026 guidance. Revenue is now expected at $9.120–$9.320 billion (organic operational decline of 3% to 1%), down from prior guidance of $9.680–$9.960 billion. Adjusted diluted EPS is now expected at $6.15–$6.25 (down from $6.85–$7.00), with adjusted net income of $2.570–$2.620 billion (organic operational decline of 9% to 5%). Reported diluted EPS guidance is $5.55–$5.65. The guidance reflects continued pressure in the Companion Animal market from lower clinic visits, pet owner price sensitivity, and heightened competitive dynamics.
ZTS YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
ZTS Revenue by Segment
With YoY comparisons, source: SEC Filings
ZTS Revenue by Geography
With YoY comparisons, source: SEC Filings
“Second quarter results reflected a more pressured Companion Animal market, as lower clinic visits and pet owner price sensitivity reduced demand across parts of our portfolio and heightened competition in key categories.”
— Kristin Peck, Q2 2026 Earnings Press Release
ZTS Earnings Trends
ZTS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ZTS EPS Trend
Earnings per share: estimate vs actual
ZTS Revenue Trend
Quarterly revenue: estimate vs actual
ZTS Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.84 | $1.87 | +1.63% | $2.47B | — |
| Q1 26 MISS | $1.62 | $1.53 | -5.29% | $2.26B | -1.70% |
| Q4 25 BEAT FY | $1.40 | $1.48 | +5.47% | $2.39B | +1.08% |
| FY Full Year | $6.34 | $6.41 | +1.13% | $9.47B | +0.27% |
| Q3 25 BEAT | $1.62 | $1.70 | +4.83% | $2.40B | -0.23% |
| Q2 25 BEAT | $1.61 | $1.76 | +9.15% | $2.46B | +2.18% |
| Q1 25 BEAT | $1.40 | $1.48 | +5.79% | $2.22B | +1.24% |