A global leader in animal health vaccines and medicines, Zoetis (ZTS) is focused on livestock and companion animals. Its operations are well diversified across core species such as cattle, swine, poultry, sheep, and fish under livestock and dogs, cats, and horses under companion animals.
Zoetis’s products cater to different categories, including vaccines, anti-infectives, parasiticides, medicated feed additives, animal health diagnostics, and other pharmaceuticals. This diversification and depth in its product portfolio help the company capitalize on customer needs and address the varying requirements in different species and geographies.
Zoetis generated total revenue of $1.48 billion in the third quarter compared to $1.35 billion in the comparable period of 2017. This increase was driven by higher product prices, increased volumes of dermatology and new products, and the contribution from its Abaxis acquisition. In the United States, Zoetis’s livestock revenue rose from $319.0 million in the third quarter of 2017 to $322.0 million in the third quarter of 2018, and its companion animal revenue rose from $361.0 million in the third quarter of 2017 to $435.0 million in the third quarter of 2018.
Its international livestock revenue increased from $435.0 million in the third quarter of 2017 to $456.0 million in the third quarter of 2018. From the comparable period in 2017, Zoetis’s international companion animal revenue rose $34.0 million to $253.0 million in the third quarter of 2018.
We’ll take a look at Zoetis’s gross margin trend in the next article.