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

RTTNews | 895 дней спустя
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.

Тэгов: 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 | 695 дней спустя
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 | 797 дней спустя
Swiss Market Close Moderately Lower

Swiss Market Close Moderately Lower

The Switzerland market closed weak on Wednesday after languishing in the red right through the day's trading session, as investors looked for directional clues and made cautious moves.
RTTNews | 5ч 45мин назад
European Stocks Close Broadly Higher

European Stocks Close Broadly Higher

European stocks closed broadly lower on Wednesday despite political uncertainty in France, and lingering concerns about geopolitical tensions. Investors also awaited some crucial economic data from the U.S. A report from the Organization for Economic Co-operation and Development (OECD) saying that the global economy will likely remain resilient helped underpin sentiment.
RTTNews | 6ч 0мин назад
U.S. Factory Orders Rise In Line With Estimates In October

U.S. Factory Orders Rise In Line With Estimates In October

The Commerce Department released a report on Wednesday showing a modest increase by new orders for U.S. manufactured goods in the month of October. The report said factory orders rose by 0.2 percent in October after dipping by a revised 0.2 percent in September. Economists had expected factory orders to rise by 0.2 percent.
RTTNews | 8ч 23мин назад
U.S. Service Sector Growth Slows More Than Expected In November

U.S. Service Sector Growth Slows More Than Expected In November

A report released by the Institute for Supply Management on Wednesday showed U.S. service sector growth slowed by more than anticipated in the month of November. The ISM said its services PMI fell to 52.1 in November from 56.0 in October. While a reading above 50 still indicates growth, economists had expected the index to show a much more modest decrease to 55.5.
RTTNews | 8ч 42мин назад
U.S. Private Sector Job Growth Falls Modestly Short Of Estimates In November

U.S. Private Sector Job Growth Falls Modestly Short Of Estimates In November

A report released by payroll processor ADP on Wednesday showed private sector employment in the U.S. increased by slightly less than expected in the month of November. ADP said private sector employment climbed by 146,000 jobs in November after jumping by a downwardly revised 184,000 jobs in October.
RTTNews | 9ч 14мин назад