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Rite Aid Is on the Chopping Block With Q4 Results

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By Chris Lange Updated Published
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Rite Aid Is on the Chopping Block With Q4 Results

© Ildar Sagdejev (Specious) / Wikimedia Commons

Rite Aid Corp. (NYSE: RAD) released its fiscal fourth-quarter financial results before the markets opened on Thursday. The firm said that it had a net loss of $0.01 per share and $5.38 billion in revenue, which compares with consensus estimates calling for a net loss of $0.02 per share and $5.56 billion in revenue. The same period of last year reportedly had a per-share net loss of $0.01 and revenue of $5.39 billion.

During the most recent quarter, Retail Pharmacy Segment revenues were $3.97 billion, flat compared to the prior year period. Revenues in the Pharmacy Services Segment were $1.46 billion, an increase of 1.2% year over year, which was due to an increase in Medicare Part D membership.

At the same time, same-store sales from Retail Pharmacy continuing operations increased 0.7% over the prior year, consisting of a 2.1% increase in pharmacy sales and a 1.9% decrease in front-end sales.

Looking ahead to the 2020 fiscal full year, the company expects to see sales in the range of $21.5 billion to $21.9 billion, with same-store sales expected to increase 0.0% to 1.0% and a net loss of $0.01 and $0.04 per share.

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Consensus estimates call for $0.02 in earnings per share and $22.09 billion in revenue for the year.

John Standley, Rite Aid CEO, commented:

In the fourth quarter, we continued generating critical momentum in key areas of our business while taking important steps to position Rite Aid for future growth. Despite a mild flu season, we delivered our third consecutive quarter of same-store pharmacy sales and prescription count growth thanks to a record number of immunizations and other script growth initiatives. We also increased Medicare Part D membership within our EnvisionRxOptions PBM, which helped drive revenue growth and a $4.5 million increase in Pharmacy Services Segment Adjusted EBITDA.

Shares of Rite Aid closed Wednesday at $0.57, in a 52-week range of $0.51 to $2.12. The consensus price target is $0.67 per share.
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About the Author Chris Lange →

Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics.

Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications.

A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.

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