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Zoetis earnings show a split business as U.S. pet spending softens

8/24/2026

Organic operational revenue strips out foreign-exchange swings and acquisition effects to show how fast a business is actually growing on its own.

(NYSE: ZTS), that measure turned negative in fiscal Q2 2026, falling 1%, even as total reported revenue held flat at $2.5 billion.

The animal-health company then cut its full-year 2026 revenue forecast to a range of $9.12 to $9.32 billion, down from its prior projection of $9.68 to $9.96 billion.

Where the business held Livestock was the clear source of strength. Zoetis reported a 12% increase in livestock revenue on a reported basis, with U.S. livestock sales climbing 23% on both reported and organic measures.

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