Rite Aid Narrows FY20 Adj. EPS Outlook Range; Boosts Revenue Guidance - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, drugstore chain Rite Aid Corp. (RAD) narrowed its adjusted earnings guidance for the full-year 2021, while raising annual revenue outlook.

For fiscal 2020, the company now projects adjusted earnings in a range of $0.45 to $0.85 per share on revenues between $23.9 billion and $24.2 billion, with same-store sales growth of 3.5 to 4.5 percent.

Previously, the company expected adjusted results between a loss of $0.67 per share and earnings of $0.09 per share on revenues between $23.5 billion and $24.0 billion, with same-store sales growth of 3.0 to 4.0 percent.

On average, analysts polled by Thomson Reuters expect the company to report a loss of $0.09 per share on revenues of $23.76 billion for the year. Analysts' estimates typically exclude special items.