Covetrus sees ‘moderately improving’ trends after net loss widens in Q1

Covetrus Inc. (Nasdaq: CVET), the Portland-based provider of animal-health technology and services, reported that its net loss widened in the first quarter, although the company CEO spoke of “moderately improving” trends ahead. Covetrus also announced a new CFO and two other new leadership team members.

The company on Thursday said that its net loss in the first quarter was $33 million, or 30 cents per diluted share. That’s up from a net loss of $13 million, or 14 cents per diluted share, a year ago.

Covetrus attributed the trend to general and administrative costs associated with increased selling, including transaction-related and strategic consulting costs, and higher interest expense, which offset the increase in gross profit driven by a stronger net sales performance in the first quarter. Read more

Related Posts

Business Leaders: Deborah Bronk steers Bigelow Lab expansion to boost reach, programming

Deborah Bronk is president, CEO and a senior research scientist at Bigelow Laboratory for Ocean Sciences in East Boothbay, which will...

24 March 2025

UNE retains R2 Research status, reinforcing leadership in scientific advancement

The University of New England has retained its status as one of the country’s leading research universities with the recent release...

23 March 2025

Maine college students investigate health effects of forever chemicals

Two dozen Maine college students are investigating the public health effects of forever chemicals by using zebrafish as human stand-ins and...

21 March 2025