ZTS · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

Zoetis Inc. · 2026-11-05 · Importance 24 · Surprise 14

For the nine months ended September 30, 2026, Zoetis revenue increased $27 million to $7.121 billion, while operational revenue decreased $97 million, or 1%. Foreign exchange added $124 million, or 1%, to nine-month revenue and $13 million, or 1%, to third-quarter revenue. Third-quarter total revenue decreased $31 million, or 1%, to $2.391 billion, with operational revenue down $44 million, or 2%, reflecting lower key-franchise volume, lower net price realization, and the MFA divestiture.

Key facts

• For the nine months ended September 30, 2026, total revenue increased $27 million, relatively flat year over year, while operational revenue decreased $97 million, or 1%. source
• For the first nine months of 2026, operational revenue decline primarily reflected approximately 2% lower volume from key franchises, partly offset by approximately 1% volume growth from other in-line products. source
• Zoetis’ third-quarter 2026 SG&A expenses were flat year over year, with lower compensation-related costs and advertising and promotion offset by higher other G&A costs and information-technology investments. source
• Zoetis’ first-nine-months 2026 SG&A expenses decreased $8 million, relatively flat year over year; lower G&A, travel and certain significant items were partly offset by unfavorable FX, higher consulting expense, and higher logistics and freight costs. source
• Zoetis sells approximately 300 product lines in over 100 countries. source
• Animal disease outbreaks may reduce demand for Zoetis products through reduced animal-derived food sales or exports, and outbreaks near main production sites could halt production or require substantial alternative procurement expenses. source
• For the three months ended September 30, 2026, total revenue decreased $31 million, or 1%, year over year, and decreased $44 million, or 2%, operationally. source
• For the three months ended September 30, 2026, operational revenue decline primarily reflected approximately 1% lower volume from key franchises, approximately 1% lower net price realization, and approximately 1% lower volume from the MFA divestiture, partly offset by approximately 1% volume growth from other in-line products. source