Covetrus reports 2020 sales up 9%, shrinking loss

Portland-based Covetrus Inc. (Nasdaq: CVET) on Monday reported 2020 net sales of $4.3 billion, including $1.1 billion in the fourth-quarter — year-over-year increases of 9% and 11% respectively.

For the year, the animal-health company reported a loss of $19 million, or 22 cents per share, compared to $980 million, or $9.14 per share, in the previous year. During 2019, the company recorded a goodwill impairment charge of $939 million.

For the fourth quarter, Covetrus had a loss of $4 million, or 4 cents per share, compared to a loss of $37 million, or 33 cents per share, during Q4 2019. Read more

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