Covetrus: 4Q Earnings Snapshot

PORTLAND, Maine (AP) _ Covetrus Inc. (CVET) on Tuesday reported a fourth-quarter loss of $37 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Portland, Maine-based company said it had a loss of 33 cents. Earnings, adjusted for non-recurring costs, were 18 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.

The animal health technology and services company posted revenue of $1.01 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $986.4 million.

Covetrus expects full-year revenue in the range of $4.03 billion to $4.13 billion.

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Covetrus shares have declined 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $11.10, a decline of 68% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CVET at https://www.zacks.com/ap/CVET

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