AcquisitionsMay 7, 2026, 04:38 PM
Zoetis to Acquire Neogen's Animal Genomics Business; Q1 Revenue $2.26B
AI Summary
Zoetis Inc. announced a definitive agreement to acquire Neogen Corporation's animal genomics business, expected to close in the second half of 2026. For the first quarter of 2026, the company reported revenue of $2.26 billion, a 2.9% increase from the recast prior year. Net income attributable to Zoetis Inc. was $601 million, with diluted earnings per share of $1.42, up from $1.34 in the recast prior year, primarily due to fewer outstanding shares. The company also incurred $22 million in restructuring charges.
Key Highlights
- Zoetis entered a definitive agreement to acquire Neogen's animal genomics business.
- Q1 2026 revenue increased to $2,262 million from $2,198 million (recast 2025).
- Net income attributable to Zoetis Inc. was $601 million, compared to $602 million (recast 2025).
- Diluted EPS rose to $1.42 from $1.34 (recast 2025), driven by fewer shares.
- US revenue decreased to $1,090 million from $1,183 million in Q1 2025.
- International revenue increased to $1,149 million from $985 million in Q1 2025.
- Companion animal revenue was $1,519 million, while livestock revenue was $720 million.
- Cash dividends declared per common share were $0.530.
- Purchases of treasury stock, including excise taxes, totaled $606 million.