Zoetis Shares Plunge 20% as Pet Owners Cut Back on Veterinary Spending

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2026-05-08 00:22:02

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Zoetis Inc. (ZTS) suffered its worst single-day decline in seven years, plummeting 20% to $88.94 after Q1 earnings missed estimates. The animal health company posted $1.53 EPS (vs. $1.60 expected) and $2.26B revenue (vs. $2.3B consensus), citing 'price sensitivity' among pet owners as a key drag. CEO Kristin Peck noted reduced vet visits and weaker demand for premium products amid economic pressures.

Stifel analysts warned the results were 'worse than they appear' due to a one-time $100M fiscal boost masking underlying softness. Zoetis slashed full-year EPS guidance to $6.85-$7.00 from $7.00-$7.10, reflecting persistent consumer pullbacks in discretionary pet care.

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