Rite Aid Corporation (NYSE:RAD) has released its earnings report for its fiscal fourth quarter of 2018.
Here are a few highlights from Rite Aid Corporation’s most recent earnings report.
- The company reported losses per share of one penny for its fiscal fourth quarter of 2018.
- This is a drop from its earnings per share of 2 cents from the same time last year.
- However, it still matches Wall Street’s losses per share estimate of 1 cent for the quarter.
- Net loss reported during the quarter was $483.70 million.
- The pharmacy chain reported a net loss of $25.10 million in its fiscal fourth quarter of 2017.
- Rite Aid Corporation notes that its fiscal fourth quarter net income was hurt by $325 million in charges from the recent tax reform in the U.S.
- There was also a goodwill impairment charge of $191 million in connection to the tax reform during the quarter.
- Revenue reported by Rite Aid Corporation for its fiscal fourth quarter of the year was $5.39 billion.
- This is down from its revenue of $5.90 billion that was reported in the same period of the year prior.
- It also comes in below analysts’ revenue estimate of $5.57 billion for the period.
Rite Aid Corporation’s earnings report for its fiscal fourth quarter of 2018 also includes its outlook for fiscal 2019. The company says that it is expecting earnings per share for the period to range from 2 cents to 6 cents. Wall Street is looking for earnings per share of 3 cents for fiscal 2019.
Rite Aid Corporation is also expecting revenue for the fiscal full year of 2019 to come in between $21.7 billion and $22.1 billion. Analysts are estimating revenue of $21.70 billion for fiscal 2019.
RAD stock was up 3% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
