Rite Aid Corporation Stock Price, News & Analysis

Rite Aid Corporation (RAD) reported fourth-quarter revenues of $6.1 billion, comparable to the previous year, with a 5.2% increase in same-store prescriptions. The net loss per share decreased to $4.39 from $7.18 year-over-year. Adjusted EBITDA rose to $128.6 million from $106.1 million. For the full year, revenues totaled $24.1 billion, down from $24.6 billion, while net loss increased to $749.9 million or $13.71 per share. The Retail Pharmacy Segment reported an 8.2% revenue increase for the fourth quarter, while the Pharmacy Services Segment saw a 20.8% revenue decline. Despite operational challenges such as reduced revenue from COVID-related services and loss of commercial clients, the company is focused on performance improvement and expects growth in Adjusted EBITDA for fiscal years 2025 and 2026.

Rite Aid Corporation (NYSE: RAD) will announce its financial results for the fourth quarter of Fiscal 2023 on April 20, 2023. The announcement will follow a conference call with management at 8:30 a.m. ET, where key financial metrics will be discussed. The replay of this call will be available from 12:00 p.m. ET on the same day until May 21, 2023. Rite Aid operates over 2,300 retail pharmacies across 17 states and employs more than 6,300 pharmacists, focusing on improving health outcomes through various services, including its pharmacy benefits company, Elixir, and regional chain, Bartell Drugs.

Rite Aid Corporation (NYSE: RAD) has appointed Elizabeth "Busy" Burr as interim CEO following the departure of Heyward Donigan. Burr brings extensive health industry experience and a strong background in innovation and business strategy. The Company reaffirmed its fiscal 2023 guidance, projecting total revenues between $23.7 billion and $24.0 billion, with an expected net loss between $584 million and $551 million. Rite Aid anticipates generating positive free cash flow this fiscal year.

Rite Aid reported third-quarter revenues of $6.08 billion, down from $6.23 billion a year earlier, with a net loss of $67.1 million per share, amounting to $1.23. Adjusted EBITDA decreased to $121.9 million from $154.8 million. Retail comparable same-store prescriptions rose 4.4%, while comparable acute prescriptions surged 8.0%. Due to headwinds, the fiscal 2023 adjusted EBITDA outlook was lowered to between $410 million and $440 million, and adjusted net loss per share is projected to range from $2.18 to $1.78.

Rite Aid (NYSE: RAD) has begun offering the updated Pfizer-BioNTech bivalent COVID-19 Vaccine to children ages 3 and up at select locations, following FDA and CDC authorization. This move allows Rite Aid to enhance community health efforts against COVID-19. Parents can schedule appointments via Riteaid.com. Additionally, customers can receive flu shots concurrently, as recommended by the CDC. The eligibility for the vaccine includes children from six months to four years who have not yet completed their primary series.

Rite Aid Corporation (NYSE: RAD) will release its financial results for the Fiscal 2023 Third Quarter on December 21, 2022. The call will start at 8:30 a.m. ET, featuring insights from the management team. Investors can access the replay starting at 12 p.m. ET on the same day. Rite Aid operates over 2,300 pharmacies across 17 states and employs more than 6,300 pharmacists.

For further information, visit www.riteaid.com.

Rite Aid Corporation (NYSE: RAD) has announced results of its tender offer to purchase up to $200 million of its 7.500% Senior Secured Notes due 2025 as of November 22, 2022. With $160.5 million in notes validly tendered, the company will proceed with early settlement on November 30, 2022. All tendered notes will be accepted for purchase without proration due to the total amount being below the maximum purchase price. The offer expires on December 7, 2022, with payment anticipated shortly after this date.

Rite Aid Corporation (NYSE: RAD) announced the extension of its tender offer to purchase up to $200 million of its 7.500% Senior Secured Notes due 2025. The new deadlines for the early tender and withdrawal have been moved to November 22, 2022, while the final expiration is set for December 7, 2022. The refinancing strategy aims to enhance the company's debt maturity profile and reduce interest expenses. The company waived the financing condition to enhance liquidity, and has terminated the consent solicitation.

Grubhub has partnered with Rite Aid to provide nationwide delivery of drugstore products, especially during the peak cold and flu season. Over 2,000 Rite Aid locations across 16 states will be available on the Grubhub Marketplace. A survey indicates that 47% of respondents prefer delivery for health needs, with 39% planning to purchase cold or flu medicine soon. This collaboration aims to enhance Grubhub's convenience offerings, providing customers access to a wide range of health and wellness essentials directly at their doorsteps.