Yahoo TV

Shares of Zoetis (ZTS) are moving higher after the veterinary drugmaker posted its latest quarterly results, beating expectations on the top and bottom line while raising its full-year guidance.

Zoetis CFO Wetteny Joseph joins Market Domination to discuss the pet health company's performance and why, despite consumer concerns with persistent inflation, animal healthcare spending continues to remain strong.

"In animal health, the industry at large is very resilient. And what we've seen is that the consumer — particularly pet owners — see pet health as very essential. If you go back across different economic times, you go back to 2008 [or] 2009, the industry still grew about 3%," Joseph says. "And what's happened since then is the human-animal bond has gotten so much stronger. And it's propelling the entire industry and they see pet health spend as essential."

He affirms that pet owners will "cut back on other things, they may cut back on some of the toys and some of the other, areas, but they see the pet health as being very essential."

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

This post was written by Nicholas Jacobino