Rite Aid’s stock soars 7.5% premarket after company posts narrower-than-expected loss and revenue beat

Rite Aid Corp.’s stock RAD rose 7.5% in premarket trade Thursday, after the drug store chain posted a narrower-than-expected loss for its fiscal first quarter and better-than-expected revenue. The Philadelphia-based company posted a net loss of $306.7 million, or $5.56 a share, for the quarter to June 3, wider than the loss of $110.2 million, or $2.03 a share, posted in the year-earlier period.

The wider loss was mostly due to a goodwill impairment charge at the company’s Elixir pharmacy benefit management business. The company’s adjusted per-share loss came to 73 cents, narrower than the FactSet consensus for a loss of $1.50. Revenue edged down to $5.653 billion from $6.015 billion, but was also ahead of the $5.324 billion FactSet consensus.

México Últimas Noticias, México Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Rite Aid’s stock slides to fresh record low ahead of earnings due ThursdayRite Aid Corp.’s stock slid another 3.8% Wednesday to a fresh record low, bringing its five-day loss to 23%. The stock has been under pressure since a...
Fuente: MarketWatch - 🏆 3. / 97 Leer más »