Rite Aid Earnings: Here’s Why Shares are Down Now
Rite Aid Corp. (NYSE:RAD) delivered a profit and met 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 down 1.93%.
Rite Aid Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.09 in the quarter versus EPS of $-0.03 in the year-earlier quarter.
Revenue: Decreased 2.71% to $6.29 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rite Aid Corp. reported adjusted EPS income of $0.09 per share. By that measure, the company met the mean analyst estimate of $0.09. It beat the average revenue estimate of $6.27 billion.
Quoting Management: “We kicked off our new fiscal year by posting strong first-quarter results that reflect our continued operational and financial progress,” said Rite Aid Chairman, President and CEO John Standley. “During the quarter, we generated net income for a third consecutive quarter and increased Adjusted EBITDA by more than $70 million over last year’s first quarter.”
Key Stats (on next page)…