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Rite Aid skyrockets 50% on blockbuster earnings, its biggest jump in 10 years (RAD) | Markets Insider

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Rite Aid skyrockets 50% on blockbuster earnings, its biggest jump in 10 years

Shares of the drugstore surged as much as 50%, marking the biggest single-day percentage gain in more than 10 years. The increase came after its fiscal third quarter earnings report solidly beat analyst expectations.

Adjusted earnings per share:Net income for the third quarter was $52.3 million, a 202% increase from the $17.3 million that Rite Aid brought in during the same quarter a year earlier. The increase was primarily due to a $55.7 million gain on debt retirements and an increase in adjusted EBITDA, the company

 

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