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Zoetis Reports Higher Revenues, Net Income
USAgNet - 05/10/2022

Zoetis Inc. reported its financial results for the first quarter of 2022 and updated its guidance for full year 2022 due to the negative impact of recent changes in foreign exchange rates. The updated guidance reflects the same operational growth rates for revenue and adjusted net income as stated in the company's previous guidance for 2022.

The company reported revenue of $2.0 billion for the first quarter of 2022, an increase of 6% compared with the first quarter of 2021. Net income for the first quarter of 2022 was $595 million, or $1.26 per diluted share, an increase of 6% and 8%, respectively, on a reported basis.

Adjusted net income1 for the first quarter of 2022 was $625 million, or $1.32 per diluted share, an increase of 4% and 5%, respectively, on a reported basis. Adjusted net income for the first quarter of 2022 excludes the net impact of $30 million for purchase accounting adjustments, acquisition-related costs and certain significant items.


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