Zoetis Announces Authorization of Multi-Year $6 Billion Share Repurchase Program
Zoetis Inc. (NYSE:ZTS) has announced a $6 billion multi-year share repurchase program, approved by its Board of Directors. This program, the company's largest to date, is expected to run for up to four years and can be cancelled at any time. The announcement reflects Zoetis' strong performance, positive long-term outlook, and commitment to returning capital to shareholders.
Wetteny Joseph, Executive VP and CFO, emphasized that Zoetis remains an attractive investment opportunity due to its consistent performance and business outlook. The company's previous $3.5 billion share repurchase program, approved in December 2021, is anticipated to be completed in 2024.
Zoetis Inc. (NYSE:ZTS) ha annunciato un programma di riacquisto di azioni multiannuale da 6 miliardi di dollari, approvato dal suo Consiglio di Amministrazione. Questo programma, il più grande fino ad oggi per l'azienda, dovrebbe durare fino a quattro anni e può essere annullato in qualsiasi momento. L'annuncio riflette la forte performance di Zoetis, le prospettive positive a lungo termine e l'impegno a restituire capitale agli azionisti.
Wetteny Joseph, VP Esecutivo e CFO, ha sottolineato che Zoetis rimane un'opportunità di investimento interessante grazie alla sua performance coerente e alle prospettive aziendali. Si prevede che il precedente programma di riacquisto di azioni da 3,5 miliardi di dollari, approvato nel dicembre 2021, sarà completato nel 2024.
Zoetis Inc. (NYSE:ZTS) ha anunciado un programa de recompra de acciones de 6 mil millones de dólares a varios años, aprobado por su Junta Directiva. Este programa, el más grande de la empresa hasta la fecha, se espera que dure hasta cuatro años y puede cancelarse en cualquier momento. El anuncio refleja el sólido desempeño de Zoetis, las perspectivas positivas a largo plazo y el compromiso de devolver capital a los accionistas.
Wetteny Joseph, VP Ejecutivo y CFO, enfatizó que Zoetis sigue siendo una oportunidad de inversión atractiva debido a su rendimiento constante y las perspectivas empresariales. Se anticipa que el anterior programa de recompra de acciones de 3.5 mil millones de dólares, aprobado en diciembre de 2021, se completará en 2024.
Zoetis Inc. (NYSE:ZTS)는 이사회에서 승인한 60억 달러 규모의 다년간 자사주 매입 프로그램을 발표했습니다. 이번 프로그램은 회사의 최대 규모로, 4년 동안 진행될 예정이며 언제든지 취소할 수 있습니다. 이 발표는 Zoetis의 강력한 성과, 긍정적인 장기 전망 및 주주로의 자본 환원에 대한 약속을 반영합니다.
Wetteny Joseph 최고재무책임자(CFO)는 Zoetis가 일관된 성과와 비즈니스 전망 덕분에 여전히 매력적인 투자 기회라고 강조했습니다. 2021년 12월에 승인된 35억 달러 규모의 자사주 매입 프로그램은 2024년까지 완료될 것으로 예상됩니다.
Zoetis Inc. (NYSE:ZTS) a annoncé un programme de rachat d'actions pluriannuel de 6 milliards de dollars, approuvé par son conseil d'administration. Ce programme, le plus important de l'entreprise à ce jour, devrait durer jusqu'à quatre ans et peut être annulé à tout moment. Cette annonce reflète la solide performance de Zoetis, ses perspectives positives à long terme et son engagement à restituer du capital aux actionnaires.
Wetteny Joseph, VP Exécutif et CFO, a souligné que Zoetis reste une opportunité d'investissement attrayante grâce à sa performance constante et à ses perspectives d'affaires. Le précédent programme de rachat d'actions de 3,5 milliards de dollars, approuvé en décembre 2021, devrait être achevé en 2024.
Zoetis Inc. (NYSE:ZTS) hat ein 6 Milliarden Dollar umfassendes mehrjähriges Aktienrückkaufprogramm bekannt gegeben, das vom Vorstand genehmigt wurde. Dieses Programm, das größte des Unternehmens bisher, soll bis zu vier Jahre laufen und kann jederzeit eingestellt werden. Die Ankündigung spiegelt die starke Leistung von Zoetis, die positiven langfristigen Ausblicke und das Engagement zur Kapitalrückführung an die Aktionäre wider.
Wetteny Joseph, Executive VP und CFO, betonte, dass Zoetis aufgrund seiner konsistenten Leistung und Geschäftsperspektiven eine attraktive Investitionsmöglichkeit bleibt. Das vorherige 3,5 Milliarden Dollar umfassende Aktienrückkaufprogramm, das im Dezember 2021 genehmigt wurde, soll bis 2024 abgeschlossen sein.
- Authorization of a large $6 billion share repurchase program
- Demonstrates confidence in company's future cash flow generation
- Reinforces commitment to delivering long-term shareholder value
- Indicates strong recent financial performance and positive business outlook
- None.
Insights
Zoetis' announcement of a
Key points to consider:
- Financial Strength: The size and duration of the program indicate robust cash flow generation and a solid balance sheet. Zoetis' ability to allocate such a large sum to share repurchases while maintaining investment in growth opportunities is noteworthy.
- Market Position: The company's reference to its "innovative and market-leading portfolio" suggests a strong competitive position in the animal health sector, which likely contributes to its financial performance.
- Shareholder Value: Share repurchases can potentially increase earnings per share and stock price by reducing the number of outstanding shares. This move aligns with Zoetis' stated commitment to delivering long-term value to shareholders.
- Flexibility: The multi-year nature of the program and the option to cancel at any time provide Zoetis with flexibility to adjust to changing market conditions or business needs.
While share repurchases can be viewed positively, investors should also consider the opportunity cost of not using this capital for other purposes such as R&D, acquisitions, or debt reduction. The effectiveness of this program will ultimately depend on the company's execution and the stock's valuation over the repurchase period.
Zoetis'
- Industry Confidence: This move suggests Zoetis sees sustained growth in the animal health sector. With increasing pet ownership and focus on livestock health, the company appears bullish on long-term industry trends.
- Competitive Positioning: By emphasizing their "innovative and market-leading portfolio," Zoetis is asserting its dominance in a competitive field. This could be a strategic move to maintain investor confidence amidst potential market challenges or emerging competitors.
- Market Perception: Such a substantial buyback program often signals to the market that management believes the stock is undervalued. This could potentially drive up stock prices in the short term.
- Capital Allocation Strategy: The balance between reinvesting in growth opportunities and returning capital to shareholders is crucial. Zoetis seems confident in its ability to fund both, which could indicate strong underlying business fundamentals.
However, investors should watch for any shifts in R&D spending or acquisition strategies that might be impacted by this large capital commitment. The animal health market is evolving rapidly and maintaining innovation is key to long-term success in this sector.
“Our consistently strong performance in recent years and long-term business outlook continue to make Zoetis an attractive investment opportunity,” said Wetteny Joseph, Executive Vice President and Chief Financial Officer at Zoetis. “This is Zoetis’ largest share repurchase program to date and reinforces our commitment to our value proposition and our confidence in our continued cash flow generation.”
The shares are expected to be repurchased over a period of up to four years, and the program can be cancelled at any time. The Company’s previous
About Zoetis
As the world’s leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After innovating ways to predict, prevent, detect, and treat animal illness for more than 70 years, Zoetis continues to stand by those raising and caring for animals worldwide – from veterinarians and pet owners to livestock farmers and ranchers. The company’s leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of
DISCLOSURE NOTICES
Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to business plans or prospects, future operating or financial performance, future use of cash and dividend payments, and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management's underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our most recent Annual Report on Form 10-K, including in the sections thereof captioned “Forward-Looking Statements and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20240801940679/en/
Media Contacts:
Jennifer Albano
1-862-399-0810 (o)
jennifer.albano@zoetis.com
Laura Panza
1-973-975-5176 (o)
laura.panza@zoetis.com
Investor Contacts:
Steve Frank
1-973-822-7141 (o)
steve.frank@zoetis.com
Nick Soonthornchai
1-973-443-2792 (o)
nick.soonthornchai@zoetis.com
Source: Zoetis Inc.
FAQ
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