Covetrus reports gain in sales for Q1, smaller loss over 2020

Portland-based Covetrus Inc. (Nasdaq: CVET) on Thursday reported an increase in net sales during this year’s first quarter of $1.1 billion, an increase of 3% compared to the first quarter of 2020.

But the company reported a net loss for Q1 this year of $16 million, or 11 cents per diluted share, which compared to a net loss in Q1 2020 of $33 million, or 30 cents.

“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,” Ben Wolin, president and CEO of the animal-health technology and services company, said in a news release. Read more

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