By Kuldip K. Ambastha
On Thursday, December 17, 2020, Rite Aid Corporation (RAD) had a +17.4% gain per share for the day. The corporation, best known for its retail drugstore chain operations, beat its quarterly adjusted earnings and revenues expectations, and also raised its full year outlook to expect positive earnings instead of a potential loss. Adjusted earnings came in at $0.40 per share, versus a consensus estimate of $0.02 per share. Revenues came in at $6.1 billion, versus a consensus estimate of $5.8 billion. An increase in pharmacy sales plus strong online performance were helpful during the quarter. Furthermore, cost-cutting measures also benefited the company.
Keywords – Rite Aid Corporation, Rite Aid Corp, Rite Aid, RAD, retail, drugstore, chain, earnings, revenues, consensus estimates, pharmacy sales, online, Internet, World Wide Web, WWW, Web.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in RAD.
Disclaimer – No recommendations are being made via this post. Past performance is not an indicator of future performance. As an investor, you should do your own research and seek professional advice from a Registered Investment Adviser (RIA). You can lose money by investing in stocks and other instruments. Ambastha Financial LLC does not assume any responsibility (legal or otherwise) for any losses that may occur as a result of actions taken based on this post. All content copyrighted © 2020 – Ambastha Financial LLC.