Market Overview

UPDATE: Rite Aid Posts 16% Rise In Q3 Earnings. Lowers Outlook

Related RAD
#PreMarket Primer: Friday, September 19: Scottish Independence Supporters Narrowly Defeated
CNBC's Stock Pops & Drops From September 18
Making Money With Charles Payne: 08/28/14 (Fox Business)

Rite Aid (NYSE: RAD) reported a 16% rise in its fiscal third-quarter earnings.

For the fiscal year, Rite Aid lowered its earnings forecast to $0.17 to $0.23 per share, on revenue of $25.3 billion to $25.425 billion. The company had earlier expected earnings of $0.18 to $0.27 per share, on revenue of $25.1 billion to $25.3 billion.

Rite Aid's quarterly profit surged to $71.5 million, from $61.9 million, in the year-ago period. On a per-share basis, its earnings fell to $0.04 per share from $0.07.

Its revenue rose 1.9% to $6.36 billion. However, analysts were estimating earnings of $0.04 per share on revenue of $6.32 billion.

Rite Aid's same-store sales climbed 2.3%.

Rite Aid shares fell 4.51% to $5.50 in pre-market trading.

Posted-In: profitEarnings News Guidance

 

Related Articles (RAD)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters