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Fourth quarter 2021 net sales of $1.12 billion, unchanged year-over-year; GAAP net loss attributable to Covetrus of $(3) million
- Non-GAAP organic net sales growth of 2% year-over-year
- Non-GAAP adjusted EBITDA increased 13% year-over-year to $63 million
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Full-year 2021 net sales of $4.58 billion, an increase of 5% year-over-year; GAAP net loss attributable to Covetrus of $(54) million
- Non-GAAP organic net sales growth of 5% year-over-year
- Non-GAAP adjusted EBITDA increased 8% year-over-year to $244 million
- 2022 non-GAAP organic net sales growth guidance of 7% to 8% and non-GAAP adjusted EBITDA guidance in the range of $270 million to $280 million
PORTLAND, Maine. February 24, 2022 — Covetrus© (Nasdaq: CVET), a global leader in animal-health technology and services, today announced financial results for the fourth quarter and full-year of 2021, which ended December 31, 2021.
“2021 marked another year of continued progress for Covetrus where we accelerated our pace of innovation, delivered enhanced value to our veterinary practice customers and channel partners, and secured new business as we continued to drive adoption of our technology platform,” said Ben Wolin, Covetrus president and CEO. “We enter 2022 with momentum and visibility alongside an impressive slate of upcoming product launches, including Covetrus Pulse, that we believe will not only drive better outcomes for our customers but also help accelerate our growth, expand our margins, and further solidify our global technology leadership position in the attractive animal health 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-fourth-quarter-and-full