Covetrus Announces Financial Results for First Quarter of 2021
Covetrus, Inc. (CVET)
Last covetrus, inc. earnings: 3/3 04:05 pm
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Source: Business Wire
First quarter GAAP net sales of $1.10 billion, an increase of 3% year-over-year; non-GAAP organic net sales increased 4% year-over-yearFirst quarter GAAP net loss of $16 million versus a net loss of $33 million in the prior year period; first quarter non-GAAP adjusted net income of $29 million, an increase of 45% year-over-yearFirst quarter non-GAAP adjusted EBITDA of $57 million, an increase of 19% year-over-year; non-GAAP adjusted EBITDA margins increased 70 bp year-over-year to 5.2%Full-year 2021 non-GAAP adjusted EBITDA guidance increased by $5 million to a new range of $245 million to $255 million PORTLAND, Maine--(BUSINESS WIRE)--Covetrus, Inc. (Nasdaq: CVET), a global leader in animal-health technology and services, today announced financial results for the first quarter of 2021, which ended March 31, 2021.“The team delivered a strong start to 2021 and added strength to our foundation with healthy and profitable growth across each of the Company’s segments,” said Ben Wolin,
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