Rite Aid Revises Its FY24 Sales Guidance To $22.6B-$23B Compared To $21.7B-$22.1B Expected Earlier And Consensus Of $21.8B, It Sees Adjusted EPS Loss Of $(4.29)-$(4.78) Compared To $(4.44)-$(4.93) Expected Earlier And Consensus Of $(4.82)
Portfolio Pulse from Benzinga Newsdesk
Rite Aid has revised its FY24 sales guidance to $22.6B-$23B, up from the earlier expected range of $21.7B-$22.1B and consensus of $21.8B. The company also anticipates an adjusted EPS loss of $(4.29)-$(4.78), narrower than the previously expected $(4.44)-$(4.93) and consensus of $(4.82).
June 29, 2023 | 11:09 am
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POSITIVE IMPACT
Rite Aid's upward revision of its FY24 sales guidance and narrower expected EPS loss could potentially boost investor confidence and positively impact its stock price in the short term.
Rite Aid's revised sales guidance indicates that the company expects higher sales than previously anticipated. This, coupled with the narrower expected EPS loss, suggests improved financial performance, which could boost investor confidence and drive up the stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100