RAD Stock: 14 Reasons Why RiteAid Is Rocketing Higher Today

RiteAid (NYSE:RAD) is seeing an increase in RAD stock on Thursday following the release of the pharmacy company’s earnings report for the third quarter of fiscal 2021.

A Rite Aid (RAD) store in Hickory, North Carolina.

Source: J. Michael Jones / Shutterstock.com

Here’s what investors in RAD stock need to know about its most recent earnings report.

  • Adjusted earnings per share for the quarter come in at 40 cents.
  • That easily beats out Wall Street’s adjusted losses per share estimate of 5 cents for the period.
  • However, it’s down 29.5% from the 54 cents reported during the third quarter of fiscal 2020.
  • Revenue is sitting at 6.12 billion during the fiscal third quarter of 2021.
  • That has the company’s revenue coming in above analysts’ estimates of $5.84 billion.
  • It’s also a 12.1% increase over the $5.46 billion reported in fiscal Q3 2020.
  • RiteAid earnings also have net income coming in at $4.32 million.

  • That’s a 91.7% decline compared to its $52.29 million reported during the same period of the year prior.
  • RAD contributes the decline to “a $55.7 million gain on debt retirements in the prior year and a decrease in Adjusted EBITDA.”
  • The RiteAid earnings report also has it providing an outlook for fiscal 2021.
  • That includes adjusted EPS ranging from 45 cents to 85 cents.
  • That’s looking great next to Wall Street’s adjusted losses per share estimate of 9 cents for the fiscal year.
  • The company’s revenue guidance for the same period is between $23.9 billion and $24.2 billion.
  • If that holds true, it will also have the company beating out analysts’ revenue estimate of $23.76 billion for fiscal 2021.

RAD stock was up 22.3% as of Thursday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media, https://investorplace.com/2020/12/rad-stock-why-riteaid-is-rocketing-higher-today/.

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