Rite Aid (RAD) Reports In-Line Q3 EPS

Rite Aid (NYSE: RAD) reported Q3 EPS of $0.06, in-line with the analyst estimate of $0.06. Revenue for the quarter came in at $8.2 billion versus the consensus estimate of $8.18 billion.

Retail Pharmacy Segment revenues were $6.7 billion and increased 0.8 percent compared to the prior year period primarily as a result of an increase in same store sales. Pharmacy Services Segment revenues were $1.5 billion.

Same store drugstore sales for the Retail Pharmacy Segment increased 0.9 percent over the prior year, consisting of a 0.3 percent increase in front-end sales and a 1.2 percent increase in pharmacy sales. Pharmacy sales included an approximate 252 basis point negative impact from new generic introductions. The number of prescriptions filled in same stores increased 0.2 percent over the prior year period. Prescription sales accounted for 69.9 percent of total drugstore sales, and third party prescription revenue was 97.9 percent of pharmacy sales.

hile Rite Aid remains comfortable with the fiscal 2016 guidance the company provided on September 17, 2015, given the agreement with WBA described above, and as is customary for transactions of this type, Rite Aid does not intend to provide further updates to its guidance for fiscal 2016 or to issue guidance for fiscal 2017. Rite Aid’s guidance did not reflect the pending transaction with WBA.

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

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