Rite Aid beats by $0.39, reports revs in-line; raises FY20 EPS guidance; reaffirms FY20 revenue guidance
Reports Q3 (Nov) earnings of $0.54 per share, excluding non-recurring items, $0.39 better than the S&P Capital IQ Consensus of $0.15; revenues rose 0.2% year/year to $5.46 bln vs the $5.42 bln S&P Capital IQ Consensus.
Retail Pharmacy Segment same store sales from continuing operations for the third quarter decreased 0.1 percent over the prior year period, consisting of a 0.1 percent increase in pharmacy sales and a 0.5 percent decrease in front-end sales. Front-end same store sales, excluding cigarettes and tobacco products, increased 1.0 percent. Pharmacy sales were negatively impacted by approximately 331 basis points as a result of new generic introductions.
Co issues raised guidance for FY20, sees EPS of $0.13-0.55 from $0.00-0.55, excluding non-recurring items, vs. $0.18 S&P Capital IQ Consensus; reaffirms FY20 revs of $21.5-21.9 bln vs. $21.64 bln S&P Capital IQ Consensus. Same store sales expected to range from an increase of 0.0 percent to an increase of 1.0 percent over fiscal 2019.