Q4 2024 Zoetis Inc Earnings Call Transcript
Key Points
- Zoetis Inc (ZTS) reported double-digit operational revenue growth of 11% for the full year 2024, driven by strong demand for its products.
- The company's companion animal portfolio saw a 14% operational revenue growth, with significant contributions from the Simparica franchise and OA pain franchises.
- Zoetis Inc (ZTS) achieved a 15% operational growth in adjusted net income, reflecting strong financial performance.
- The company successfully launched Librela in the US, marking it as the most successful launch in its history, contributing to an 80% operational revenue growth in the OA pain franchises.
- Zoetis Inc (ZTS) maintained a strong commitment to innovation, with expectations of at least one major product approval annually over the next several years, supporting long-term growth.
- The livestock portfolio faced headwinds due to the divestiture of the Medicated Feed Additives product portfolio, impacting overall growth.
- Foreign exchange posed a challenge, with a reported unfavorable impact on gross margins and revenue projections for 2025.
- The company anticipates increased competition in key areas such as dermatology, which could impact growth in the latter half of 2025.
- Zoetis Inc (ZTS) faces potential headwinds from new market entrants and regulatory changes, which could affect future performance.
- The company's guidance for 2025 reflects a slowdown in price-driven growth compared to previous years, indicating potential challenges in maintaining high growth rates.
Welcome to the fourth quarter and full year 2024 financial results conference call and webcast for Zoetis. Hosting the call today is Steve Frank, Vice President of Investor Relations for Zoetis.
The presentation materials and additional financial tables are currently posted on the Investor Relations section of zoetis.com. The presentation slides can be managed by you, the viewer, and will not be forwarded automatically.
In addition, a replay of this call will be available approximately two hours after the conclusion of this call via dial-in or on the Investor Relations section of zoetis.com. (Operator Instructions) It is now my pleasure to turn the floor over to Steve Frank. Steve, you may begin.
Thank you, operator. Good morning, everyone, and welcome to the Zoetis fourth quarter and full year 2024 earnings call. I am joined today by Kristin Peck, our Chief Executive Officer; and Wetteny Joseph, our Chief Financial Officer.
Before we begin, I'll remind you that the slides
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