- Second quarter GAAP net sales of $1.19 billion, an increase of 16% year-over-year; non-GAAP organic net sales increased 12% year-over-year
- Second quarter GAAP net loss attributable to Covetrus of $31 million versus GAAP net income of $54 million in the prior year period; second quarter non-GAAP adjusted net income of $35 million, an increase of 17% year-over-year
- Second quarter non-GAAP adjusted EBITDA of $66 million, an increase of 5% year-over-year; non-GAAP adjusted EBITDA margin decreased 50 bp year-over-year to 5.6%
- Full-year 2021 non-GAAP adjusted EBITDA guidance range of $245 million to $255 million remains unchanged
PORTLAND, Maine — August 5, 2021 — Covetrus® (Nasdaq: CVET), a global leader in animal-health technology and services, today announced financial results for the second quarter of 2021, which ended June 30, 2021.
“Covetrus continues to advance our value proposition to the veterinary industry and pet owners globally. In the second quarter, we delivered solid results, improved our market position and progressed our innovation agenda,” said Ben Wolin, Covetrus president and CEO. “While we still have plenty of work to do, I am confident in our strategic direction and growth opportunities in what remains a healthy, but dynamic, end-market. I anticipate our momentum will continue to build in the second half of 2021 and beyond.”
– Ben Wolin, Covetrus president and CEO.
Read the full press release here: https://ir.covetrus.com/news-releases/news-release-details/covetrus-announces-financial-results-second-quarter-2021