Rite Aid (RAD) Reports In-Line Q1 EPS; Guides FY14 EPS Below Views
Tweet
Share
E-mail
Get Alerts RAD Hot Sheet
Price: $0.65 --0%
EPS Growth %: +100.0%
Financial Fact:
Total costs and expenses: 8B
Today's EPS Names:
MAXN, CSTR, ACU, More
EPS Growth %: +100.0%
Financial Fact:
Total costs and expenses: 8B
Today's EPS Names:
MAXN, CSTR, ACU, More
Join SI Premium – FREE
Rite Aid (NYSE: RAD) reported Q1 EPS of $0.09, in-line with the analyst estimate of $0.09. Revenue for the quarter came in at $6.29 billion versus the consensus estimate of $6.27 billion.
Same store sales for the quarter decreased 2.5 percent over the prior year 13-week period, consisting of a 3.8 percent decrease in pharmacy sales, partially offset by a 0.4 percent increase in front end sales. Pharmacy sales included an approximate 458 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores decreased 0.1 percent over the prior year period. Prescription sales accounted for 67.5 percent of total drugstore sales, and third party prescription revenue was 97.0 percent of pharmacy sales.
Rite Aid commenced the refinancing of its 7.5% second lien notes due 2017, which is expected to close on June 21 and its 9.5% senior notes due 2017, which is expected to close on July 2. These refinancings will extend debt maturities to 2018 and beyond and are expected to result in annual cash interest savings of $85 million.
Sees FY2013 EPS of $0.01 to $0.16, versus the consensus of $0.17. The net income guidance reflects the anticipated charge from Rite Aid’s recently announced refinancing transactions, as well as the interest savings from those transactions.
For earnings history and earnings-related data on Rite Aid (RAD) click here.
Same store sales for the quarter decreased 2.5 percent over the prior year 13-week period, consisting of a 3.8 percent decrease in pharmacy sales, partially offset by a 0.4 percent increase in front end sales. Pharmacy sales included an approximate 458 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores decreased 0.1 percent over the prior year period. Prescription sales accounted for 67.5 percent of total drugstore sales, and third party prescription revenue was 97.0 percent of pharmacy sales.
Rite Aid commenced the refinancing of its 7.5% second lien notes due 2017, which is expected to close on June 21 and its 9.5% senior notes due 2017, which is expected to close on July 2. These refinancings will extend debt maturities to 2018 and beyond and are expected to result in annual cash interest savings of $85 million.
Sees FY2013 EPS of $0.01 to $0.16, versus the consensus of $0.17. The net income guidance reflects the anticipated charge from Rite Aid’s recently announced refinancing transactions, as well as the interest savings from those transactions.
For earnings history and earnings-related data on Rite Aid (RAD) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Benchmark on Take-Two's (TTWO) GTV 6 Release: 'we anticipate that the game will not be released within the fiscal year and expect it to launch in fiscal 2026 instead'
- Safe & Green (SGBX) Provides Update on Audit and Planned 10-K Filing
- American Express (AXP) down despite beating Q1 estimates on top and bottom lines
Create E-mail Alert Related Categories
Earnings, Guidance, Hot Earnings, Hot Guidance, Retail SalesRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
