Rite Aid Q4 2019 earnings

on Apr11
by | Comments Off on Rite Aid Q4 2019 earnings |

Pedestrians cross a street in front of a Rite Aid store in Oakland, California.

David Paul Morris | Bloomberg | Getty Images

Pedestrians cross a street in front of a Rite Aid store in Oakland, California.

Rite Aid on Thursday posted mixed fourth-quarter earnings results and gave a weak forecast for the upcoming fiscal year.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: A loss of 1 cent, adjusted, vs. a loss of 2 cents expected
  • Revenue: $5.38 billion vs. $5.56 billion expected

For fiscal 2020, Rite Aid said it expects earnings per share to fall between a loss of a penny to a gain of 4 cents. It also projected revenue to fall between $21.5 billion and $21.9 billion. Analysts were predicting earnings of 2 cents per share and revenue of $22.09 billion.

Shares of Rite Aid slid nearly 5 percent to 54 cents in premarket trading. Rite Aid’s shares have lost 66 percent of their value over the past year, with the price hovering under $1 since December. The company plans a reverse stock split at a ratio of 1-for-20, effective April 22 to prevent the New York Stock Exchange from delisting its shares.

For more on investing in health-care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.



Previous postMissing Mt. Baldy Hikers Found Alive Next postCisco, Apple, IBM are leading the Dow this year, but only 2 look good


Los Angeles Financial times


Copyright © 2021 Los Angeles Financial times

Updates via RSS
or Email