Covetrus down 33% premarket on Q2 miss

Covetrus (CVET) Q2 results: Revenues: $1,009M (+0.4%).

Net loss: ($10M) (-134.5%); loss/share: ($0.09) (-122.5%); Non-GAAP Net Income: $14M (-30.0%); CF Ops: $3M (-93.8%).

2019 Guidance: Pro forma organic net sales growth: low single-digits from 3% to 5%; Enrollments on the Vets First Choice prescription management platform of more than 3,000 in North America, unchanged from prior outlook; Pro forma non-GAAP EBITDA: at least $200M from $235M - 250M.

Shares are down 33% premarket.

Previously: Covetrus EPS misses by $0.22, misses on revenue (Aug. 13)

https://seekingalpha.com/news/3491065-covetrus-33-percent-premarket-q2-miss