Zoetis cuts annual sales forecast as inflation weights on pet spending

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SaltWire's Atlantic regional weather forecast for November 2, 2023 | SaltWire - Pet products maker Zoetis Inc cut its annual profit forecast and missed quarterly sales estimates on Thursday as inflation continues to weigh on pet spending.

Zoetis also trimmed its annual sales forecast to a range of $8.48 billion to $8.55 billion from $8.50 billion to $8.65 billion earlier. For the quarter ended Sept. 30, the company reported total sales of $2.15 billion, missing analysts' estimate of $2.16 billion.

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