Rite Aid EPS beats by $0.45, beats on revenue, guides FY2021 outlook above consensus

 

• Rite Aid (NYSE:RAD): Q3 Non-GAAP EPS of $0.40 beats by $0.45; GAAP EPS of $0.08 beats by $0.58.
• Revenue of $6.12B (+12.1% Y/Y) beats by $280M.
• Adj. EBITDA margin rate down 60 bps to 2.3% vs. consensus of 1.8%.
• For FY2021, revenues to be between $23.9B-$24.2B vs. consensus of $23.46B, with same store sales increase of 3.5%-4.5%; Adjusted EBITDA to be between $490M-520M; Adjusted EPS to be between $0.45-$0.85 vs. consensus of -2.95.

• Press Release

• COVID vaccines are expected to arrive in drugstores like Rite Aid in early spring.

• https://seekingalpha.com/news/3645226-rite-aid-eps-beats-0_45-beats-on-revenue-guides-fy2021-outlook-above-consensus