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covetrus Covetrus Announces Financial Results for Third Quarter of 2021 November 4 , 2021 • Third quarter GAAP net sales of $ 1.16 billion , an increase of 3 % year - over - year ; non - GAAP organic net sales increased 3 % year - over - year • Third quarter GAAP net loss attributable to Covetrus of $ ( 4 ) million versus GAAP net loss attributable to Covetrus of $ ( 35 ) million in the prior year period ; third quarter non - GAAP adjusted net income of $ 31 million , an increase of 3 % year - over - year • Third quarter non - GAAP adjusted EBITDA of $ 58 million , a decline of 2 % year - over - year ; non - GAAP adjusted EBITDA margin decreased 20 bp year - over - year to 5.0 % • Full - year 2021 non - GAAP organic net sales growth guidance of 5 % to 6 % and non - GAAP adjusted EBITDA guidance range of $ 245 million to $ 255 million remains unchanged PORTLAND , Maine -- ( BUSINESS WIRE ) -- Nov . 4 , 2021-- Covetrus® ( Nasdaq : CVET ) , a global leader in animal - health technology and services , today announced financial results for the third quarter of 2021 , which ended September 30 , 2021 . " Covetrus delivered healthy underlying results during the third quarter , supported by the team's execution and accelerated growth in our technology platform , " said Ben Wolin , Covetrus president and CEO . " We will continue aggressively investing to enhance our solutions , effectively connecting veterinary practices with their clients , and helping veterinarians succeed . I am confident in our strategy and with the continued momentum I see in our business ' core drivers and with strong end - market growth and the industry's leading technology platform , it is clear our future is bright . " Summary Operating Results ( Unaudited ) ( In millions , except per share data ) Net sales Income ( loss ) before taxes Net income ( loss ) attributable to Covetrus Diluted earnings ( loss ) per share ( EPS ) Non - GAAP Measures : ( a ) Organic net sales growth Non - GAAP Adjusted EBITDA Non - GAAP Adjusted net income attributable to Covetrus Three Months Ended September 30 , 2021 $ TM 1,162 $ ( 14 ) $ ( 4 ) $ ( 0.03 ) 3 $ 58 $ 31 % 2020 $ 1,126 $ ( 32 ) $ ( 35 ) $ ( 0.33 ) $ 59 $ 30 Nine Months Ended September 30 , 2021 $ 3,453 $ ( 44 ) $ ( 51 ) $ ( 0.37 ) 6 $ 181 $ 96 % 2020 $ 3,217 $ ( 8 ) $ ( 15 ) $ ( 0.18 ) $ 170 $ 80 ( a ) Non - GAAP financial measures should be considered in addition to , but not as a substitute for , the information provided in accordance with GAAP . Reconciliations for non - GAAP financial items to the most directly comparable GAAP financial items are provided under Reconciliation of Non - GAAP Financial Measures at the end of this release .