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Rite Aid Skyrockets on Impressive Earnings Report

  +Follow September 19, 2013 11:33AM
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Drugstore chain Rite Aid Corporation (RAD) issued their second quarter earnings report on Sept. 19, showing that the company’s turnaround has not slowed a bit. The company posted increased sales, notably in the key same-store sales metric, and a marked growth in the pharmacy department, upending analyst expectations.

The drugstore, which for a time flirted with bankruptcy, is in the midst of a massive turnaround.  After posting one lone profitable quarter in five years, Rite Aid has posted net gains over the last four quarters, and this one comfortably trumped analyst expectations.

Of particular excitement for Rite Aid is growing pharmaceutical sales. In a conference call with investors, Chief Financial Officer Frank G. Vitrano said, “The (sales) increase was due to higher pharmacy sales. Overall same-store sales increased 1% in the quarter, reflecting a higher pharmacy inflation rate,” referencing the chain’s aggressive expansion of that division, including the completion of the 1,000th Wellness Store remodel.

For their second quarter 2013 earnings report, Rite Aid reported a net profit of $32.8 million, or $0.03 per share, versus the net loss of $39 million, or -$0.05 per share, from the same period a year ago. Revenue for the quarter was $6.3 billion, as compared to $6.253 billion from the previous year. Analysts were expecting a loss of -$0.04 per share on revenues of $6.2 billion.

In its history, Rite Aid’s stock has gotten as high as $48.56 a share, in Dec. 1998, before a major accounting scandal racked the company, ending with several key executives, including the company’s CEO, going to jail.

Rite Aid popped on the news, gaining 21.02 percent to hit $4.49 a share. The stock is up a whopping 166 percent on the year, and has gained over 1,000 percent since March 2009, when the stock hit an all-time low of 20 cents a share.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for RAD
Langan Stocks
20 Dec 14 07:28:12
$MUX Stock Forum Updated Saturday, December 20, 2014 10:03:24 AM $TNA $VTI $RAD $RSX http://t.co/LZLyWTBXdX
ProTradersNews
20 Dec 14 07:28:04
$RAD: Rite Aid: Roller Coaster Ride Continues Following An Unexpected ... http://t.co/yC3PWEwuGk http://t.co/3yCUPNVqXJ
Seeking Alpha
20 Dec 14 07:21:34
Rite Aid: Roller Coaster Ride Continues Following An Unexpected Beat http://t.co/oAaevCe3uh $RAD
MarketCurrents
20 Dec 14 07:18:00
Retail trends to watch: Athleisure, P-E buyouts, and new online channels http://t.co/Ywd1Hfj4lU $XRT $CVS $RAD $WAG
Robert Weinstein
20 Dec 14 06:51:34
Walgreen's 1st Qtr Earnings Preview: Making New Highs http://t.co/8okvAotOoE $RAD $WAG $CVS
bigblaster stocks
20 Dec 14 06:47:01
RT @WallStJesus: $WAG is where all the big $$ is flowing RT @FedPorn: @WallStJesus $CVS $RAD or $WAG in 2015? Or All three?
IH News Desk
20 Dec 14 06:43:36
$UVXY News Updated Saturday, December 20, 2014 09:11:24 AM $UVXY $RAD $BAC $RIG http://t.co/MXJQvqvvJM
IH News Desk
20 Dec 14 06:43:34
$RAD Percent Change Updated Saturday, December 20, 2014 09:11:24 AM $RSP $CVX $SH $AZFL http://t.co/CrvQan8Khc
Langan Stocks
20 Dec 14 06:28:19
$GDXJ Stock Message Board Updated Saturday, December 20, 2014 09:03:25 AM $XRT $RAD $SVXY $ABX http://t.co/yiiZIZKIf4
Fed Porn
20 Dec 14 06:27:18
RT @WallStJesus: $WAG is where all the big $$ is flowing RT @FedPorn: @WallStJesus $CVS $RAD or $WAG in 2015? Or All three?
JE$US
20 Dec 14 06:23:43
$WAG is where all the big $$ is flowing RT @FedPorn: @WallStJesus $CVS $RAD or $WAG in 2015? Or All three?
Fed Porn
20 Dec 14 06:19:29
@WallStJesus $CVS $RAD or $WAG in 2015? Or All three?
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20 Dec 14 05:42:19
$RIG Percent Change Updated Saturday, December 20, 2014 08:11:24 AM $XLF $LUV $MNKD $RAD http://t.co/PeRauTkeqj
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20 Dec 14 05:27:24
$NFLX Percent Change Updated Saturday, December 20, 2014 08:07:24 AM $CSCO $QCOM $QCOM $RAD http://t.co/PC6uvkuNic
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20 Dec 14 05:00:05
Upgraded: $BDSI $GLW $TDW $ESV $CVS $RCAP $GOL $PAY $XOOM $PTEN $DNR $PXD $RAD $CROX $WPX http://t.co/Vv2VEnpBuv #stockpicks #stock #stocks
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20 Dec 14 04:48:07
$RAD: Update: Rite Aid Earnings Continue To Grow - Our Bull Case Stands ... http://t.co/qqkr3fydjs http://t.co/glzS1qlKXo
Seeking Alpha
20 Dec 14 04:45:07
Update: Rite Aid Earnings Continue To Grow - Our Bull Case Stands http://t.co/NiXjhbmOFa $RAD
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20 Dec 14 04:34:31
RT @SeekingAlpha: Why Rite Aid Will Trade Higher In 2015 http://t.co/YwPIl8zvnM $RAD
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20 Dec 14 04:25:46
$MRK Short Sales Updated Saturday, December 20, 2014 06:59:25 AM $DBC $TNA $RAD $XLP http://t.co/tk8kNyTR5d
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20 Dec 14 04:04:51
Cost on $RAD $3.58 Cost on $CTRX $41.19 Cost on $CVS $36
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20 Dec 14 04:03:07
2015 for healthcare stocks should be easy too. When $CVS becomes a $125B company I will move some poker chips more into $RAD $CTRX.
John Addison
20 Dec 14 03:15:25
RT @lancejepsen: Rite Aid Stock Breaks Above 200 Day Moving Average $RAD $IWM http://t.co/bkTIIY44wP http://t.co/Hd3tw94CGc
Stock Signaling
20 Dec 14 03:01:07
Earnings Surprises: $SAFM $CAG $NKE $RAD $ACN $NQ $RHT $CTAS $PIR $FDX $JOY $ORCL $JBL $NAV $DRI http://t.co/S9oPUZ8PN3 #stock #analyst #mkt
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20 Dec 14 02:47:13
http://t.co/X5RWmIYKd4 Use coupon code PROFITMAS on any Profitly newsletter 50%+ discount! OVAS $PIR $ORCL $RAD
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20 Dec 14 02:24:15
$RAD Percent Change Updated Saturday, December 20, 2014 04:59:25 AM $JNJ $UCO $BBBY $NUGT http://t.co/re58R72KQv
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Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $RAD $SBGI $MEG
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Platinum Memberships Rose, After 528% Gains On Penny Stocks, In One Month! Big Update: http://t.co/2W3yKD2d5Q $ALTO $USA $RAD
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20 Dec 14 01:48:12
RT @SeekingAlpha: Rite Aid's Move Higher May Be Just The Beginning http://t.co/wWzwPeRgpN $RAD
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20 Dec 14 01:48:02
$RAD: Rite Aid's Move Higher May Be Just The Beginning (RAD) http://t.co/lfmaHZFXYX http://t.co/I9LxQGmuGJ
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Rite Aid's Move Higher May Be Just The Beginning http://t.co/wWzwPeRgpN $RAD
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20 Dec 14 01:38:12
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20 Dec 14 00:38:58
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20 Dec 14 00:38:03
$RAD: Why Rite Aid Will Trade Higher In 2015 (RAD) http://t.co/khhzCF4kqf http://t.co/oMmx9Q6wYw
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20 Dec 14 00:34:21
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19 Dec 14 23:20:08
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OTPicks.com
19 Dec 14 23:14:16
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19 Dec 14 23:14:14
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ProVesting
19 Dec 14 23:13:02
$RAD: Rite Aid Sees Large Increase in Short Interest (RAD) http://t.co/XHvMLD1UX0 http://t.co/1E7caFQTC7
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19 Dec 14 23:05:10
Bloomberg's Top Ten Stocks for Dec. 18: $NYNY $SPN $ACE $JD $RAD $AMZN $DNKN $KRFT $HTZ $ORCL http://t.co/Lz7DLHRQtx
Buster Mohr
19 Dec 14 22:48:45
RT @lancejepsen: Rite Aid Stock Breaks Above 200 Day Moving Average $RAD $IWM http://t.co/bkTIIY44wP http://t.co/Hd3tw94CGc
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19 Dec 14 22:21:35
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19 Dec 14 22:01:26
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  +Follow September 19, 2013 11:33AM
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