Source: Dreamstime
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The U.S. drugstore chain reported strong first-quarter figures and provided a strong financial outlook for its fiscal 2022. Here’s just how well the company did in the past three months.
Financial performance for Q1 2022
“We are pleased with our first-quarter results, as we delivered adjusted EBITDA at the top end of our guidance range and continued our extraordinary efforts to vaccinate Americans against COVID-19.”
Heyward Donigan, president and chief executive officer
Here are the main financial highlights from Rite Aid’s earnings release:
– Revenues from continuing operations: up 2.2% to $6.16 billion vs. the $6.03 billion from a year earlier. This increase was also driven by the Retail Pharmacy Segment’s revenue growth
– Net income from continuing operations: $20.9 million vs. last year’s net loss of $2 million
– Earnings per share: $0.38 vs last year’s $0.04 per share
– Retail Pharmacy Segment revenues: up 5.5% year over year
– Same-store sales: up 1.4% year over year
– Number of prescriptions filled in same stores: up 11.2% year over year
– Net loss: $13.1 million compared to the net loss of $72.7 million from a year earlier. According to the pharmacy chain, this improvement was driven by the strong performance of the Retail Pharmacy Segment
– COVID-19 vaccination efforts: for the period, Rite Aid administered close to 4.7 million vaccines. So far, it has provided a total of over 6 million COVID-19 vaccines
Forecast for fiscal 2022
“Our results improved sequentially through the first quarter and we have momentum in several areas of our business as the country began taking meaningful steps towards a post-pandemic world. With a healthier economy and the reopening of the communities we serve, combined with the execution of our RxEvolution strategy, we are well-positioned to deliver on our strategic priorities.”
Heyward Donigan
Here are some of the ballpark figures that Rite Aid expects to achieve during its fiscal 2022:
– Total revenues: $25.1 – $25.5 billion
– Pharmacy Services Segment revenue: $7.9 – $8.0 billion
– Net loss: $175 – $138 million
– Net loss per share: $0.79 – $0.24
– Capital expenditures: approximately $300 million
Upcoming reports
See the full list of upcoming earnings reports for 28th June – 2nd July in the tables below.
Monday, 28th June 2021
| Country | Company name | Fiscal period |
|---|---|---|
| USA | Jefferies Financial Group Inc | Q2 2021 |
Wednesday, 30th June 2021
| Country | Company name | Fiscal period |
|---|---|---|
| САЩ | Micron Technology Inc | Q3 2021 |
| САЩ | General Mills Inc | Q4 2021 |
| САЩ | Constellation Brands Inc | Q1 2022 |
| САЩ | Bed Bath & Beyond Inc | Q1 2021 |
Thursday, 1st July 2021
| Country | Company name | Fiscal period |
|---|---|---|
| USA | Walgreens Boots Alliance Inc | Q3 2021 |
| United Kingdom | Micro Focus International PLC | Half Year 2021 |
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