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Rite Aid Q4 adjusted net loss from continuing operations $13.3 million

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Christian Fernsby |
Rite Aid
Rite Aid   Adjusted EBITDA is expected to be between $500.0 million and $560.0 million

Rite Aid announced, for fiscal 2020, the company expects sales to be between $21.5 billion and $21.9 billion with same store sales expected to range from flat to an increase of 1.0 percent over fiscal 2019.

Adjusted EBITDA is expected to be between $500.0 million and $560.0 million.

Adjusted result per share is expected to be between a loss of $0.01 and income of $0.04.

Analysts' estimates typically exclude special items.

The company reported a fourth-quarter adjusted net loss from continuing operations of $13.3 million or $0.01 per share, compared to a loss of $7.8 Million or $0.01 per share, prior year.

On average, four analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02 for the quarter.

Adjusted EBITDA from continuing operations was $134.1 million compared to $154.8 million, last year.

Fourth-quarter revenues from continuing operations were $5.38 billion compared to $5.39 billion in the prior year's fourth quarter.

Analysts expected revenue of $5.56 billion for the quarter.

Retail Pharmacy Segment revenues were $3.97 billion and were flat compared to the prior year period.

Revenues in the Pharmacy Services Segment were $1.46 billion, an increase of 1.2 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 fourth quarter increased 0.7 percent over the prior year, consisting of a 2.1 percent increase in pharmacy sales and a 1.9 percent decrease in front-end sales.

On April 10, 2019, Rite Aid's Board approved the implementation of the Reverse Stock Split at a ratio of 1-for-20.

Once effective, the reverse stock split will reduce the number of shares of common stock issued and outstanding from approximately 1.08 billion to approximately 54 million.

Rite Aid's common stock will begin trading on a split-adjusted basis on the NYSE, at the market open on April 22, 2019.

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