Rite Aid (RAD) Misses Q4 EPS by 2c, Revenue Beats, Offers Outlook

April 15, 2021 7:03 AM EDT

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Rite Aid (NYSE: RAD) reported Q4 EPS of ($0.78), $0.02 worse than the analyst estimate of ($0.76). Revenue for the quarter came in at $5.92 million versus the consensus estimate of $5.8 million.

GUIDANCE:

Rite Aid sees Q1 2021 revenue of $6.1-6.3 billion, versus the consensus of $6.05 billion.

  • The pandemic will continue to have an impact on several factors in Fiscal 2022. Those factors include the number of individuals that receive a COVID-19 vaccine, demand for COVID-19 testing, the timing and extent to which elective procedures increase to pre-pandemic levels, the demand for flu and other immunizations and the length and severity of this year’s cough cold and flu season. As a result, the company is currently only providing guidance for its first quarter of fiscal 2022.
  • The company’s results for the first quarter of fiscal 2022 will be significantly impacted by the number of COVID-19 vaccinations administered during the quarter, and the related benefit to revenues and gross profit, partially offset by incremental costs to administer these vaccines. Also included in our guidance assumptions are a meaningful reduction in front-end sales compared to last year’s pandemic driven surge and continued deferral of elective procedures and the related impact on acute scripts. The company also expects continued reimbursement rate pressure at retail, and a return of Elixir EBITDA to recent run rate levels due to good network management and expense control initiatives.
  • Total revenues are projected to be between $6.1 billion and $6.3 billion in the first quarter with Retail Pharmacy Segment same store sales expected to range from a decrease of 9.0 percent to a decrease of 7.0 percent compared to fiscal 2021.
  • Net income/loss is projected to be between a loss of $10 million and income of $10 million.
  • Adjusted EBITDA is projected to be between $115 million and $140 million.

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



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