Covetrus reports 11% sales growth in Q3 results

Covetrus Inc. (Nasdaq: CVET), the Portland-based animal-health company, reported sales were up 11% during the third quarter compared to the same period last year, driven by customer demand that reached pre-pandemic levels in some markets.

Net sales from July to September were $1.13 billion, about $80 million more than analysts’ consensus expectations, and an increase from $1.02 billion for Q3 in 2019. The jump reflected “companion animal end-market growth that returned to pre-COVID-19 levels across many of the company’s major geographies” among other factors, Covetrus said in a news release late Tuesday. Read more

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