RAD - Rite Aid reports mixed Q4 earnings; initiates FY24 outlook

2023-04-20 07:03:44 ET

• Rite Aid press release ( NYSE: RAD ): Q4 GAAP EPS of -$4.39 misses by $3.22 .
• Revenue of $6.1B (+0.5% Y/Y) beats by $400M .
• Adjusted EBITDA of $128.6 million, Compared to the Prior Year Adjusted EBITDA of $106.1 million.
• Outlook: We expect our Adjusted EBITDA to be higher in the second half of fiscal 2024 due to timing of our performance acceleration and cost reduction initiatives. We also expect those initiatives to drive Adjusted EBITDA growth in fiscal 2025 and 2026.

• Total revenues are expected to be between $21.7 billion and $22.1 billion in fiscal 2024 vs. consensus of $20.88B. Retail Pharmacy Segment revenue is expected to be between $17.8 billion and $18.1 billion and Pharmacy Services Segment revenue is expected to be between $3.9 billion and $4.0 billion, net of any intercompany revenues to the Retail Pharmacy Segment.

• Net loss is expected to be between $439 million and $466 million.

• Adjusted EBITDA is expected to be between $340 million and $370 million. Retail Pharmacy Segment Adjusted EBITDA is expected to be between $240 million and $260 million and Pharmacy Services Segment Adjusted EBITDA is expected to be between $100 million and $110 million.

• Adjusted net loss per share is expected to be between $(4.44) and $(4.93) vs. consensus of -$1.84.

• Capital expenditures are expected to be approximately $225 million

For further details see: