Rite Aid Posts Loss In Q2; Confirms FY19 Outlook For Adj. EBITDA, Revenues

(RTTNews) - Rite Aid Corp. (RAD) reported a second-quarter adjusted net loss from continuing operations of $7.9 million or $0.01 per share, compared to adjusted net income of $17.4 million or $0.02 per share, prior year. Adjusted EBITDA from continuing operations was $148.6 million, compared to the prior year adjusted EBITDA from continuing operations of $136.9 million and prior year pro-forma adjusted EBITDA from continuing operations of $160.9 million.

For the second-quarter, revenues from continuing operations were $5.4 billion compared to $5.3 billion in the prior year's second quarter. Retail Pharmacy Segment revenues were $3.9 billion and increased 0.2 percent compared to the prior year period due to an increase in same store sales, partially offset by a reduction in store count. Revenues in the Pharmacy Services Segment were $1.6 billion, an increase of 4.6 percent compared to the prior year period, which was due to an increase in Medicare Part D membership.

Same store sales from Retail Pharmacy continuing operations for the quarter increased 1.0 percent compared to the prior year, consisting of a 1.6 percent increase in pharmacy sales and 0.1 percent decrease in front-end sales.

For fiscal 2019, the company now expects adjusted net result per share to be between a loss of $0.03 and income of $0.01. Rite Aid confirmed its fiscal 2019 outlook for revenues, same store sales, adjusted EBITDA.