Zoetis Inc. (NYSE:ZTS) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 08:30 am ET


Zoetis Inc. (NYSE:ZTS) Q3 2019 Earnings Conference Call - Final Transcript


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Welcome to the Third Quarter 2019 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 at zoetis.com. [Operator Instructions].

It is now my pleasure to turn the floor over to Steve Frank. Steve, you may begin.

Steven Frank

Good morning everyone and welcome to the Zoetis third quarter 2019 earnings call I'm joined today by Juan Ramon Alaix, our Chief Executive Officer; Glenn David, our Chief Financial Officer and also by Kristin Peck, our CEO-elect. Before we begin, I'll remind you that the slides presented on this call are available on the Investor Relations section of our website and that our remarks today will include forward-looking statements and that actual results could differ materially from those projections.

For a list and description of certain factors that could cause results to differ, I refer you to the forward-looking statements in today's press release and our SEC filings, including but not limited to our Annual Report on Form 10-K and our reports on Form 10-Q. Our remarks today will also include references to certain financial measures, which were not prepared in accordance with Generally Accepted Accounting Principles or US GAAP. A reconciliation of these non-GAAP financial measures. For the most directly comparable US GAAP measures is included in the financial tables that accompany our earnings press release and in the Company's 8-K filing dated today, November 7, 2019. We also cite operational results which exclude the impact of foreign exchange.

With that, I will turn the call over to Juan Ramon.

Juan Ramon Alaix

Thank you, Steve. Good morning everyone. Today, you will hear commentary on the market dynamics and quarterly result from me and Glenn. I am also pleased to have a Kristin Peck our next CEO joining us to share some remarks with her appointment in the future of Zoietus.

As we near the end of the year, let me provide some context around recent market dynamics. The animal health industry in 2019 as we may facing a challenging year for [Indecipherable] and cut off while we have seen a very good performance in companion animal and poultry. We have seen growing appetite in the companion animal market for spending on innovation and pet care and we once again expect to grow much faster than the market in companion animals for 2019.

[Indecipherable] area excited by the new products and lifecycle innovations giving them more advance ways to assist pet owners with skin conditions and parasites. The pathology [Phonetic] treatment continues to be a critical need. And Zoetis has been rewarded for the innovation we have developed in this space, we have continued