Covetrus posts smaller Q3 loss than last year, stock rises

Covetrus Inc. (Nasdaq: CVET), the Portland-based animal health technology and services company, on Friday reported a smaller third-quarter loss than in 2020, after a 3% rise in net sales for Q3 this year.

The company said its third-quarter net loss totaled $4 million, or 3 cents a share, compared with a net loss of $35 million, or 33 cents a share a year ago. Covetrus said the improvement came primarily from a $19 million increase in gross profit, a modest decrease in selling, general and administrative expense and an income tax benefit. Read more

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