RAD - Rite Aid jumps 9% after FY 2023 outlook

Rite Aid (RAD +7.6%) shows Q4 revenue of $6.06M, beats consensus by $110M. Bifurcating revenue: pharmacy services segment $1.7B (-9.4% Y/Y); pharmacy services segment $7.3B (-8.1% Y/Y) Q4 net loss from continuing operations of $389.1M, or EPS loss of $7.18; adjusted net loss from continuing operations of $88.6M, or EPS loss $1.63. FY adjusted EBITDA increased 16% to $505.9M driven by strong retail pharmacy performance; generated $379M in operating cash flow and reduced net debt by $212M. Leverage ratio improved Y/Y from 6.7 to 5.4 times FY 2023 expectation: Total revenues are expected to be between $23.1B-23.5B (vs. consensus estimate of $23.44B); retail pharmacy segment revenue is expected to be between $17.7B-18B and pharmacy services segment revenue is expected to be between $5.4B-5.5B. Net loss is expected to be between $167M-210M; Adjusted EBITDA is expected to be between $460M-500M; retail pharmacy segment; Adjusted EBITDA expected to be between $320M-350M and pharmacy services

For further details see:

Rite Aid jumps 9% after FY 2023 outlook