PORTLAND, Maine (AP) _ Covetrus Inc. (CVET) on Tuesday reported a loss of $35 million in its third quarter.
The Portland, Maine-based company said it had a loss of 33 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 23 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The animal health technology and services company posted revenue of $1.13 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.04 billion.
Covetrus shares have risen 97% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $26.01, more than doubling in the last 12 months.
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
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News