1/8/2024 0 Comments Rite aid share priceThese items were partially offset by an increase in restructuring charges and an increase in interest expense. The decrease in net loss is primarily due to a reduction in goodwill impairment charges, a gain on the company’s repurchase of certain bonds at a discount, a reduction in facility exit and impairment charges, an increase in Adjusted EBITDA, and a gain on sale of assets resulting from sale leasebacks and script file sales from store closures. These items were partially offset by an extra week in the fourth quarter and increases in both comparable front-end sales and non-COVID prescriptions.įourth quarter net loss was $241.3 million, or $4.39 per share, compared to last year’s fourth quarter net loss of $389.1 million, or $7.18 per share. Revenues for the fiscal year ended March 4, 2023, were $24.1 billion compared to $24.6 billion in the prior year, largely due to a reduction in revenue from COVID vaccines and testing, store closures and the loss of commercial clients at Elixir. Revenues for the quarter were $6.09 billion compared to revenues of $6.07 billion in the prior year’s quarter, largely due to an extra week in the fourth quarter and increases in both comparable front-end sales and non-COVID prescriptions, partially offset by a reduction in revenue from COVID vaccines and testing, store closures and the loss of commercial clients at Elixir. The fiscal 2023 fourth quarter and full year results benefited from an extra week in fiscal 2023. For the full year, the company reported a net loss of $749.9 million, or $13.71 loss per share, Adjusted net loss of $174.3 million, or $3.19 loss per share, and Adjusted EBITDA of $429.2 million, or 1.8 percent of revenues. “We are making progress in our turnaround program to drive performance acceleration that we expect will help mitigate fiscal 2024 challenges related to reimbursement, COVID headwinds and enrollment at Elixir, and to drive meaningful Adjusted EBITDA growth in fiscal 20.”Ĭonsolidated Fourth Quarter and Full Year Summaryįor the fourth quarter, the company reported a net loss of $241.3 million, or $4.39 loss per share, Adjusted net loss of $68.2 million, or $1.24 loss per share, and Adjusted EBITDA of $128.6 million, or 2.1 percent of revenues. “Our fourth quarter results were at the higher end of our guidance and above consensus, driven by encouraging results in retail pharmacy and year over year improvement for the quarter at Elixir,” said Elizabeth “Busy” Burr, interim chief executive officer. Rite Aid Corporation (NYSE: RAD) today reported operating results for its fourteen-week fourth quarter and fifty-three-week fiscal year ended March 4, 2023. Retail Comparable Same Store Prescriptions Increased 3.5 Percent – Comparable Same Store Prescriptions, Excluding COVID Impacts, Increased 6.9 Percent.Revenues of $24.1 billion, Compared to Prior Year Revenues of $24.6 billion.Completed Tender Offer for $165 million of our 2025 notes – Reducing Amount Outstanding to $320 million From $600 million at Beginning of Fiscal 2022.Adjusted EBITDA of $128.6 million, Compared to the Prior Year Adjusted EBITDA of $106.1 million. Net Loss per Share of $4.39, Compared to Prior Year Net Loss per Share of $7.18.Retail Comparable Same Store Prescriptions Increased 5.2 Percent – Comparable Same Store Prescriptions, Excluding COVID Impacts, Increased 9.7 Percent.Revenues of $6.1 billion, Comparable to Prior Year.All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2019 and/or its affiliates. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. Factset: FactSet Research Systems Inc.2019. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes.
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