US Stock Market Move | Downward revision of 2026 financial performance guidance by Zoetis (ZTS.US) leads to a more than 20% plunge in pre-market trading.

On Thursday, Zoetis (ZTS.US) plunged more than 20% in early trading, hitting a new low at 88.05 USD. On the news front, on May 7th, the company announced an adjusted earnings per share of 1.53 USD for the first quarter, lower than the market expectation of 1.62 USD; revenue was 2.3 billion USD, up 3%, but lower than some market expectations. The company revised its adjusted earnings per share guidance for the 2026 fiscal year to 6.85-7.00 USD and revised its full-year revenue guidance to 9.68-9.96 billion USD, with both figures below analyst expectations. The CEO of the company stated that the operational environment in the first quarter was more challenging than expected, with increased price sensitivity among pet owners leading to a decrease in veterinary visits. As a result, US market revenue declined by 8% to 1.1 billion USD, with companion animal product sales down 11%.