Rite Aid Shares Plunge 28% Following Q2 Results
<p><a href='https://financialmodelingprep.com/financial-summary/RAD'>Rite Aid (NYSE: RAD)</a> shares fell more than 28% last Thursday following the company’s reported Q2 results, with EPS of ($0.63) coming in worse than the Street estimate of ($0.50). Revenue was $5.9 billion, better than the Street estimate of $5.77 billion. Core EBITDA was down 47% to about $15 million adjusting out the benefit of vaccines, which continue to decline.</p>
<p>According to the analysts at Deutsche Bank, the company’s core pharmacy business continues to erode, and improvements in the PBM segment may prove short-lived as the company stares down lower membership in 2023 due to a client loss.</p>
<p>For the full 2023-year, the company expects EPS to be in the range of ($1.52)-($0.97), compared to the Street estimate of ($1.39), and revenue in the range of $23.6-24 billion, compared to the Street estimate of $23.36 billion.</p>

NYSE:, RAD