Rite Aid (RAD) Misses Q3 EPS by 2c

Rite Aid (NYSE: RAD) reported Q3 EPS of $0.02, $0.02 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $8.6 billion versus the consensus estimate of $8.22 billion.

“Despite the difficult operating environment created by the extended duration of the merger process with WBA, our third quarter results show solid performance in our front-end business, good cost control and continued strong growth at our pharmacy benefit manager, EnvisionRx,” said Chairman and CEO John Standley. “Reimbursement rates remain our largest challenge and we expect that to continue for the remainder of the fiscal year. Moving forward, we will remain focused on improving the health of our patients through clinical services like immunizations and medication adherence, converting additional stores to our highly successful Wellness format and working as a team to deliver a consistently outstanding experience to our customers.”

For earnings history and earnings-related data on Rite Aid (RAD) click here.

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