Rite Aid Earnings: Here’s Why Investors are Buying Shares Now
Rite Aid Corp. (NYSE:RAD) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 18.16%.
Rite Aid Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.13 in the quarter versus EPS of $-0.18 in the year-earlier quarter.
Revenue: Decreased 9.68% to $6.46 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rite Aid Corp. reported adjusted EPS income of $0.13 per share. By that measure, the company beat the mean analyst estimate of $-0.02. It beat the average revenue estimate of $6.45 billion.
Quoting Management: “Thanks to the hard work of our entire Rite Aid team, we generated outstanding results in the fourth quarter, which helped us to deliver one of the best full-year performances in company history,” said Rite Aid Chairman, President and CEO John Standley. “In addition to setting a new company record for full-year Adjusted EBITDA, we generated full-year net income for the first time since fiscal 2007.”
Key Stats (on next page)…