- Second quarter 2022 net sales of $1.22 billion, an increase of 2% year-over-year; GAAP net loss attributable to Covetrus of $(4) million
- Non-GAAP organic net sales growth of 5% year-over-year
- Non-GAAP adjusted EBITDA was flat year-over-year at $66 million, including a $2 million year-over-year headwind from the strengthening of the U.S. Dollar
- First half 2022 net sales of $2.37 billion, an increase of 3% year-over-year; GAAP net loss attributable to Covetrus of $(6) million
- Non-GAAP organic net sales growth of 6% year-over-year
- Non-GAAP adjusted EBITDA increased 5% year-over-year to $129 million, including a $4 million year-over-year headwind from the strengthening of the U.S. Dollar
PORTLAND, Maine — August 4, 2022 — Covetrus® (Nasdaq: CVET), a global leader in animal-health technology and services, today announced financial results for the second quarter of 2022, which ended June 30, 2022.
“Our team executed well during the second quarter and delivered results consistent with our expectations despite end-market and macroeconomic turbulence, which masked some of the operational progress we have made this year in furthering adoption of our technology stack, growing our proprietary brands and managing corporate costs,” said Ben Wolin, Covetrus president and CEO. “We remain focused on executing our strategic plan, delivering against our innovation agenda and advancing our mission to drive positive outcomes for veterinarians, their practices and patients around the globe.”
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-second-quarter-2022