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 11.59%.
Rite Aid Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.03 in the quarter versus EPS of $-0.05 in the year-earlier quarter.
Revenue: Rose 0.76% to $6.28 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Rite Aid Corp. reported adjusted EPS income of $0.03 per share. By that measure, the company beat the mean analyst estimate of $-0.04. It beat the average revenue estimate of $6.27 billion.
Quoting Management: “We posted excellent results in the second quarter, highlighted by another quarter of net income and an all-time company record for second-quarter Adjusted EBITDA,” said Rite Aid Chairman and CEO John Standley. “As we continue to improve our operational and financial performance, we are also making tremendous progress in transforming our more than 4,600 stores into true neighborhood destinations for health and wellness, as indicated by our successful launch of the wellness65+ loyalty program for seniors, a strong start to our flu immunization campaign and the completion of our 1,000th wellness store remodel.”
Key Stats (on next page)…
Revenue decreased 0.24% from $6.29 billion in the previous quarter. EPS decreased 66.67% from $0.09 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.03 and has not changed. For the current year, the average estimate has moved down from a profit of $0.16 to a profit of $0.14 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)