Rite Aid Boosts FY22 Revenues Outlook As Q1 Results Come Above Estimates

RTTNews | 1038 दिनों पहले
Rite Aid Boosts FY22 Revenues Outlook As Q1 Results Come Above Estimates

(RTTNews) - While reporting financial results for the first quarter of fiscal 2022 on Thursday, drugstore chain Rite Aid Corp. (RAD) raised it total revenue guidance for the full-year 2022, due to increased utilization of higher cost drugs at Elixir.

For fiscal 2022, the company now projects an adjusted loss in a range of $1.19 to $0.66 per share on total revenues between $23.6 billion and $24.0 billion.

Previously, the company expected an adjusted loss in the range of $1.06 to $0.53 per share on total revenues between $23.1 billion and $23.5 billion.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $1.41 per share on revenues of $22.91 billion for the year. Analysts' estimates typically exclude special items.

For the first quarter, the company reported a net loss of $110.19 million or $2.03 per share, sharply wider than $13.06 million or $0.24 per share in the prior-year quarter.

Excluding items, adjusted loss for the quarter was $0.60 per share, compared to adjusted income of $0.38 per share in the year-ago quarter.

Revenues for the quarter decreased to $6.01 billion from $6.16 billion in the same quarter last year.

The Street was looking for a loss of $0.70 per share on revenues of $5.73 billion for the quarter.

टैग: RAD
read more
Rite Aid Names Elizabeth Burr As Interim CEO; Reaffirms FY23 Outlook

Rite Aid Names Elizabeth Burr As Interim CEO; Reaffirms FY23 Outlook

Rite Aid Corp. (RAD) announced Monday that its Board of Directors has appointed Elizabeth Burr, a member of the Company's Board, as interim CEO, effective immediately. Burr's appointment follows Heyward Donigan's departure from the Company as President and CEO, and as a member of the Board.
RTTNews | 838 दिनों पहले
Rite Aid Q2 Adj. Loss Wider Than Estimates; Slashes FY23 Adj. Loss Outlook

Rite Aid Q2 Adj. Loss Wider Than Estimates; Slashes FY23 Adj. Loss Outlook

While reporting financial results for the second quarter on Thursday, drugstore chain Rite Aid Corp. (RAD) slashed its outlook for fiscal 2023 net loss primarily due to goodwill impairment charges in the Pharmacy Services Segment and increased impairment charges for closed stores. Meanwhile, it maintained annual revenue forecast.
RTTNews | 940 दिनों पहले
Swiss Franc Recovers Against Majors

Swiss Franc Recovers Against Majors

The Swiss franc recovered against its major counterparts in the New York session on Friday.
RTTNews | 22घंटे 24 मिनट पहले
Euro Advances Against Most Majors

Euro Advances Against Most Majors

The euro climbed against its most major counterparts in the New York session on Friday.
RTTNews | 23घंटे 16 मिनट पहले
Swiss Market Ends Modestly Higher

Swiss Market Ends Modestly Higher

The Swiss market closed modestly higher on Friday after moving in a tight bandwith investors digesting earnings updates and continuing to track the developments on the tariff front.
RTTNews | 1 दिन पहले
European Stocks Close Higher

European Stocks Close Higher

Despite lingering uncertainty about U.S. government's trade policy, European stocks closed higher on Friday, with German and French markets gaining for a fourth straight session, and the U.K. moving up for the tenth consecutive session, as investors focused on earnings.
RTTNews | 1 दिन पहले
U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

U.S. Consumer Sentiment Deteriorates Modestly Less Than Estimated In April

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated modestly less than previously estimated in the month of April. The University of Michigan said its consumer sentiment index for April was upwardly revised to 52.2 from a preliminary reading of 50.8. Economists had expected the index to be unrevised.
RTTNews | 1 दिन पहले