Rite Aid (NYSE:RAD) earnings for fiscal fourth quarter of 2020 have RAD stock taking a beating on Thursday. That’s thanks to its adjusted losses per share of 37 cents. This is well below Wall Street’s estimate of 15 cents. However, the drugstore company’s revenue of $5.73 billion is better than analysts’ estimates of $5.59 billion.
Here’s are some additional highlights from the most recent Rite Aid earnings report.
- Adjusted per-share losses are 48% wider than the 25 cents from the same time last year.
- Revenue comes in 6.51% higher than $5.38 billion reported in the fiscal fourth quarter of 2019.
- Operating loss of $343.46 million is a 34.36% worse result year-over-year from $255.63 million.
- The Rite Aid earnings report also includes a net loss of $324.72 million.
- That’s an 18.95% wider net loss than the $272.98 million reported in the same period of the year prior.
Heyward Donigan, president and CEO of Rite Aid, said this about the RAD stock earnings report:
“Strong execution by our team drove growth in both Pharmacy Services Segment revenues and Retail Pharmacy Segment prescription count, and helped deliver our second consecutive quarter-over-quarter improvement in Adjusted EBITDA. These results provide important momentum as we redefine our industry by deploying our bold, new RxEvolution strategy.”
The Rite Aid earnings report doesn’t include a guidance update. Instead, the company is sticking with its fiscal 2021 outlook of adjusted losses per share of 22 cents to earnings per share of 19 cents on revenue of $22.5 billion to $22.9 billion. Wall Street’s estimates are for adjusted EPS of 30 cents on revenue of $22.26 billion.
RAD stock was down 18.78% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
