Filing Flows › Zoetis (ZTS) › Q3 2026
Zoetis (ZTS) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 5, 2026
Zoetis (ZTS) reported revenue of $2.4B for the third quarter 2026 (Q3 2026), -1% from a year earlier and -3% from the quarter before. Operating margin was 30.5%, net earnings $591M (24.7% of revenue).
Zoetis, Q3 2026: revenue $2.4B (-1% year over year), operating margin 30.5%, net earnings $591M, operating cash flow $824M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.4B | -3% | -1% |
| Operating profit | $729M | -16% | -18% |
| Net earnings | $591M | -14% | -18% |
| Operating cash flow | $824M | +26% | -12% |
| Free cash flow | $717M | +33% | -10% |
What changed
Revenue was $2.4B in Q3 2026, down 1% year over year and down 3% from the previous quarter. Vaccines was the largest line at 23% of revenue. Dermatology lost $0.07B year over year (down 16%), 239% of the total change.
Operating profit was $0.73B, a 30.5% margin (down 6.1 points year over year). Total costs grew 8% against a revenue fall of 1%. The fastest-growing cost line was Other operating costs (+154%). Net earnings were $0.59B, down 18% year over year. The effective tax rate was 18.9%.
Operating cash flow was $0.82B (down 12% year over year), 139% of net earnings. Non-cash charges added back $0.12B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $0.11B left free cash flow of $0.72B.
Questions
What was Zoetis' revenue in the third quarter 2026?
Zoetis (ZTS) reported revenue of $2.4B for the third quarter 2026 (Q3 2026), -1% from a year earlier and -3% from the quarter before.
Was Zoetis profitable in the third quarter 2026?
Operating profit was $729M (30.5% of revenue) and net earnings $591M.
Source: Zoetis 10-Q on SEC EDGAR.