RAD - Rite Aid Non-GAAP EPS of -$0.14 beats by $0.17 revenue of $6.08B beats by $140M
- Rite Aid press release ( NYSE: RAD ): Q3 Non-GAAP EPS of -$0.14 beats by $0.17 .
- Revenue of $6.08B (-2.4% Y/Y) beats by $140M .
- Shares +8.8% PM.
- “Our third quarter beat consensus on top and bottom line, and we’re pleased with our results at Elixir and our accelerated sales growth at retail. However, based on recent trends, we are lowering our full year guidance due to headwinds including pharmacy margin, seasonal markdowns and higher shrink,” said Heyward Donigan, president and chief executive officer. “In addition, we are kicking off a performance acceleration program, which allows us to fast-track initiatives that will improve sales, script volume and operating margins, and free up cash. We look forward to updating you on our progress at year end.”
- FY2023 Outlook : Total revenues are expected to be between $23.7B and $24B vs. consensus of $23.73B. Retail Pharmacy Segment revenue is expected to be between $17.4B and $17.6B and Pharmacy Services Segment revenue is expected to be between $6.3B and $6.4B; Net loss is expected to be between $584M and $551M; Adjusted EBITDA is expected to be between $410M and $440M vs. prior guidance of between $450M and $490M; Adjusted net loss per share is expected to be between $2.18 and $1.78 vs. consensus of -$1.78; Capital expenditures are expected to be approximately $225M; to generate positive free cash flow.
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Rite Aid Non-GAAP EPS of -$0.14 beats by $0.17, revenue of $6.08B beats by $140M