Covetrus: Continued Execution Is Great For Shareholders [Seeking Alpha]
Covetrus, Inc. (CVET)
Last covetrus, inc. earnings: 3/3 04:05 pm
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Source: Seeking Alpha
Covetrus: Continued Execution Is Great For Shareholders Summary An update on Covetrus's Q1. Guidance in the long term is great. KPIs continue to soar upwards. In March, we wrote an article CVET delayed Q1: An update At first glance, Covetrus's results aren't impressive - it reported a slight revenue decline YOY. However, this includes several strong one-time headwinds that depressed results. Most notably, FX affected overall growth by 4%. Overall organic growth on a constant-currency basis would've been 3%. In North America, rebate classification reduced growth by 1%; in APAC, a lost manufacturer relationship reduced growth by 10%; and many other region-specific headwinds further depressed results. Without these one-time items, growth would likely be much higher. Despite the disappointing revenue growth, other KPIs performed very well. Enrollments on Covetrus's prescription management technology increased by 18% YOY, and comparable store partner sales increased 22% YOY. This is great
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