Zoetis Inc. Reports 4% Revenue Growth to $2.46 Billion in Q2 2025

Zoetis Inc. reported a notable increase in its financial performance for the second quarter of 2025, with total revenue reaching $2.46 billion, a 4% rise from $2.36 billion in the same period of 2024. For the first half of 2025, revenue also grew to $4.68 billion, up 3% from $4.55 billion year-over-year. The company's net income attributable to Zoetis increased by 15% to $718 million for the second quarter, compared to $624 million in the prior year, and for the six months, net income rose 10% to $1.35 billion from $1.22 billion. Earnings per share (EPS) for the second quarter were $1.61, up from $1.37, while the six-month EPS increased to $3.02 from $2.68.

The growth in revenue was primarily driven by price increases and volume growth in key product franchises, although it was partially offset by a decline in sales related to the divestiture of the medicated feed additive product portfolio completed in late 2024. The company reported a 4% volume decrease attributed to this divestiture, which impacted livestock product sales significantly. In contrast, companion animal products saw a strong performance, with revenue growth attributed to increased sales of key dermatology products and vaccines.

In terms of operational developments, Zoetis has continued to expand its product offerings and geographic reach. The company markets its products in approximately 45 countries and has a diversified portfolio that includes around 300 product lines across various species and product categories. The company’s strategic focus on research and development remains evident, with R&D expenses for the second quarter slightly increasing to $172 million from $171 million in the previous year. The company also reported a decrease in restructuring charges, reflecting a transition from internal to external innovation and manufacturing processes.

As of June 30, 2025, Zoetis had total assets of $14.48 billion, up from $14.24 billion at the end of 2024. The company’s cash and cash equivalents decreased to $1.44 billion from $1.99 billion, while accounts receivable increased to $1.54 billion, indicating higher sales activity. The company’s long-term debt remained stable at $5.23 billion, with no amounts drawn from its $1 billion revolving credit facility. Zoetis continues to maintain a strong liquidity position, supported by its operating cash flows and existing financing arrangements.

Looking ahead, Zoetis anticipates continued growth driven by its diverse product portfolio and strategic investments in innovation. The company remains vigilant regarding potential risks, including foreign exchange fluctuations and global economic conditions, which could impact its operations. The management expressed confidence in the company’s ability to navigate these challenges while delivering value to its shareholders, supported by a robust share repurchase program that has $4.9 billion remaining under authorization.