Rite Aid Narrows FY20 Revenue Outlook Range - Quick Facts

(RTTNews) - Rite Aid Corp. (RAD) on Monday narrowed its revenue outlook for the full-year 2020 and initiated full-year 2021 and long term guidance ahead of its Analyst Day webcast later in the day, whereby the management will outline the Company's corporate strategy and growth plan.

The Company will also provide details on how its strategic initiatives are designed to drive revenue and Adjusted EBITDA growth, as well as reduce the Company's leverage ratio.

For fiscal 2020, the company now projects revenues between $21.9 billion and $21.925 billion, with same-store sales growth of 1.0 to 1.1 percent.

Previously, the company expected revenues between $21.5 billion and $21.9 billion, with same store sales expected to be between flat and an increase of 1.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.37 per share on revenues of $21.66 billion for the year. Analysts' estimates typically exclude special items.

For fiscal 2021, the company now projects adjusted results between a loss of $0.22 per share and earnings of $0.19 per share on revenues between $22.5 billion and $22.9 billion, with same-store sales growth of 1.5 to 2.5 percent. The Street is looking for earnings of $0.28 per share on revenues of $21.89 billion for fiscal 2021.

On a long-term basis by fiscal year 2023, the company projects pharmacy benefits and services revenue to grow in the high-single to low-double digits, with same-store scripts growth in the mid-single digits. Front End revenue is projected to grow in the low-single digits.