Elizabeth “Busy Burr”, Interim Chief Executive Officer and Matt Schroeder, Executive Vice President and Chief Financial Officer will begin the call with prepared remarks.

We welcome you to our fiscal 2023 fourth quarter earnings call. Thank you, Rob, and good morning, everyone. Thank you.īyron Purcell, Vice President, Investor Relations and Treasurer, you may begin your conference. At this time, I would like to welcome everyone to the Rite Aid Corporation Fourth Quarter Fiscal Year 2023 Earnings Conference Call. My name is Rob and I’ll be your conference operator today. William Reuter - Bank of America - AnalystĬarla Casella - J.P. Schroeder - Executive VP & Chief Financial OfficerĬhris DuPaul - Chief Operating Officer, Elixir Analysts:Įlizabeth Anderson - Evercore ISI - Analyst 20, 2023 Corporate Participants:īyron Purcell - Vice President of Investor Relations & TreasurerĮlizabeth “Busy” Burr - Interim Chief Financial Officer To read this article on click here.Rite Aid Corporation ( NYSE: RAD) Q4 2023 earnings call dated Apr. Rite Aid Corporation (RAD) : Free Stock Analysis ReportĬVS Health Corporation (CVS) : Free Stock Analysis Report Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. The consensus EPS estimate for the quarter has been revised 0.1% higher over the last 30 days to the current level.ĬVS Health's revenues are expected to be $81.6 billion, up 6.2% from the year-ago quarter. This drugstore chain and pharmacy benefits manager is expected to post quarterly earnings of $2.09 per share in its upcoming report, which represents a year-over-year change of -5.9%. The results are expected to be released on May 3. One other stock from the same industry, CVS Health (CVS), is yet to report results for the quarter ended March 2023. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. In terms of the Zacks Industry Rank, Retail - Pharmacies and Drug Stores is currently in the top 42% of the 250 plus Zacks industries. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. The current consensus EPS estimate is -$0.23 on $5.7 billion in revenues for the coming quarter and -$1.56 on $22.33 billion in revenues for the current fiscal year. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. So, the shares are expected to perform in line with the market in the near future. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.Īhead of this earnings release, the estimate revisions trend for Rite Aid: mixed. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. While Rite Aid has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

Rite Aid shares have lost about 29% since the beginning of the year versus the S&P 500's gain of 8.2%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. The company has topped consensus revenue estimates four times over the last four quarters. This compares to year-ago revenues of $6.07 billion. Rite Aid, which belongs to the Zacks Retail - Pharmacies and Drug Stores industry, posted revenues of $6.09 billion for the quarter ended February 2023, surpassing the Zacks Consensus Estimate by 6.90%. Over the last four quarters, the company has surpassed consensus EPS estimates two times.

Rite aid earnings call