Rite Aid (RAD) Misses Q2 EPS by 2c; Trims FY16 EPS Outlook

Rite Aid (NYSE: RAD) reported Q2 EPS of $0.02, $0.02 worse than the analyst estimate of $0.04. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.57 billion.

Same store drugstore sales for the Retail Pharmacy Segment increased 2.1 percent over the prior year, consisting of a 0.3 percent increase in front-end sales and a 2.8 percent increase in pharmacy sales. Pharmacy sales included an approximate 223 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 69.3 percent of total drugstore sales, and third party prescription revenue was 97.8 percent of pharmacy sales.

Rite Aid sees FY2016 EPS of $0.12-$0.19, versus prior guidance of $0.14-$0.22 and the consensus of $0.21. Rite Aid sees FY2016 revenue of $30.0-31.1 billion, versus the consensus of $30.9 billion.

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

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