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Recap: Rite Aid Q2 Earnings

Benzinga Insights
September 29, 2022

Rite Aid (NYSE:RAD) reported its Q2 earnings results on Thursday, September 29, 2022 at 07:00 AM.

Here's what investors need to know about the announcement.

Earnings

Rite Aid missed estimated earnings by 14.55%, reporting an EPS of $-0.63 versus an estimate of $-0.55.

Revenue was down $212.00 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.1 which was followed by a 7.95% increase in the share price the next day.

Here's a look at Rite Aid's past performance:

 

Quarter Q1 2023 Q4 2022 Q3 2022 Q2 2022
EPS Estimate -0.7 -0.56 -0.14 -0.48
EPS Actual -0.6 -1.63 0.15 -0.41
Revenue Estimate 5.75B 5.95B 6.32B 6.21B
Revenue Actual 6.01B 6.07B 6.23B 6.11B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Rite Aid management provided guidance for FY 2023, expecting earnings between $-1.52 and $-0.97 per share.

To track all earnings releases for Rite Aid visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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