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First quarter 2022 net sales of $1.15 billion, an increase of 4% year-over-year; GAAP net loss attributable to Covetrus of $(2) million
- Non-GAAP organic net sales growth of 6% year-over-year
- Non-GAAP adjusted EBITDA increased 11% year-over-year to $63 million
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Full-year 2022 non-GAAP organic net sales and adjusted EBITDA guidance remains unchanged
- Non-GAAP organic net sales growth guidance of 7% to 8%
- Non-GAAP adjusted EBITDA guidance in the range of $270 million to $280 million
PORTLAND, Maine. May 5, 2022 — Covetrus© (Nasdaq: CVET)a global leader in animal-health technology and services, today announced financial results for the first quarter of 2022, which ended March 31, 2022.
“The first quarter represented a strong start to the year for Covetrus. We continued to drive momentum in our strategic growth drivers, progressed our technology roadmap forward and delivered against our financial commitments,” said Ben Wolin, Covetrus president and CEO. “With a record number of software enhancements and new product launches coming to market this year, including Pulse, we stand to significantly strengthen our value proposition to our customers, pet owners and manufacturer partners alike. We are well-positioned to drive continued growth and accelerate our market opportunity in what remains an attractive, but dynamic end-market.”
Ben Wolin, Covetrus president and chief executive officer
Read the full press release here: https://ir.covetrus.com/news-releases/news-release-details/covetrus-announces-financial-results-first-quarter-2022