RAD - Rite Aid jumps ~7% on raised FY 2022 outlook misses Q3 revenue

Rite Aid (RAD +2.9%) Q3 results shows marginal 1.8% surge in revenue to $6.23B, misses consensus by $50M. Retail Pharmacy segment revenues increased 7.9% over the prior year quarter, driven by an increase in same store sales and the inclusion of Bartell’s results this quarter. Pharmacy Services Segment revenues were $1.9B, a decrease of 10.8% compared to the prior year. Adjusted EBITDA increased 12.7% to $154.8M vs. $137.4M last year. Non-GAAP EPS of $0.15 beats consensus by $0.68; GAAP EPS of -$0.67 misses consensus by $0.14. Outlook FY 2022: Total revenues expected to be between $24.4B-$24.7B; Pharmacy Services Segment revenue expected to be between $7.1B-$7.2B; Net loss expected to be between $23M-189M; Adjusted EBITDA expected to be between $500M-520M; Adjusted EPS loss $0.49 and $0.04; Capital expenditures are expected to be ~$275M. Bearish sentiment on the stock by contributor who writes: 'Rite Aid Corporation Vs. Walgreens Boots Alliance, Inc.: There Is A Clear

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Rite Aid jumps ~7% on raised FY 2022 outlook, misses Q3 revenue