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.
