Categories AlphaGraphs, Earnings, Health Care

Rite Aid Corp. (RAD) Q1 2024 adj. loss narrows; revenue down 6%

Drugstore chain Rite Aid Corporation (NYSE: RAD) announced first-quarter results, reporting lower revenues and a narrower adjusted loss.

Rite Aid Corporation Q1 2024 earnings infographic

First-quarter loss, excluding special items, improved to $0.73 per share from a loss of $0.86 per share in the same period of last year. On a reported basis, the net loss attributable to common stockholders was $306.7 million or $5.56 per share, compared to a loss of $110.2 million or $2.03 per share in the prior-year quarter.

Total revenues decreased modestly to $5.65 billion in the first quarter from $6.01 billion in the corresponding period of 2023. Retail comparable same-store prescriptions moved up 4.7%, while front-end same-store sales, excluding cigarettes and tobacco products, decreased by 3.8%.

“Our first quarter results were driven by strong script growth, solid pharmacy margins, and early progress with our turnaround program, which offset underperformance on front-end sales in the Retail Pharmacy Segment and a higher-than-expected medical loss ratio at Elixir Insurance,” said interim chief executive officer Elizabeth Burr.

Prior Performance

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

Key highlights from McCormick & Company’s (MKC) Q3 2023 earnings results

McCormick & Company, Incorporated (NYSE: MKC) reported third quarter 2023 earnings results today. Net sales increased 6% year-over-year to $1.68 billion, but narrowly missed estimates of $1.70 billion.   Net income

Carnival Corporation (CCL): A couple of factors that work in favour of this cruise ship operator

Shares of Carnival Corporation & plc (NYSE: CCL) were down on Monday. The stock has gained 69% year-to-date. The company delivered strong results for the third quarter of 2023 and although

Earnings Preview: PepsiCo (PEP) likely to deliver another strong quarter

Over the years, brand loyalty and diversification of the portfolio have played a key role in the continued success of PepsiCo, Inc. (NASDAQ: PEP) The soft drink giant is now

Add Comment
Viewing Highlight