Covetrus reports net loss, higher revenue for third quarter

Covetrus Inc. of Portland reported a net loss for the third quarter despite a double-digit revenue increase that exceeded analyst expectations.

The company, which provides veterinary technology, products and services, reported a net loss of $35 million, or 33 cents per share, for the quarter, compared with a net loss of $959 million a year earlier. The most recent quarterly net loss fell short of analyst expectations by 27 cents per share, according to the investor website Seeking Alpha.

However, Covetrus’ third-quarter revenue of $1.13 billion was 11 percent higher than in the third quarter of 2019 and exceeded analyst expectations by $80 million. Read more

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