Why Rite Aid's Q4 Earnings Caused the Stock to Tank More Than 20% [The Motley Fool]
Rite Aid Corporation (RAD)
Last rite aid corporation earnings: 4/16 07:00 am
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Source: The Motley Fool
Rite Aid Corporation(NYSE:RADThe company announced its fiscal 00 fourth-quarter and full-year results before the market opened on Thursday. Rite Aid's shares promptly plunged more than 0%. Here's why investors didn't like the pharmacy retailer's Q update.Image source: Getty Images.By the numbersRite Aid reported revenue in the fourth quarter of $.7 billion, up nearly 6% year over year. However, the revenue total wasn't enough to make Wall Street happy. The analysts' consensus estimate projected Q revenue of $.9 billion.The company announced a net loss from continuing operations of $. million, or $6. per share, in the fourth quarter based on generally accepted accounting principles (GAAPOn a non-GAAP adjusted basis, Rite Aid's net loss from continuing operations in the fourth quarter was $9.8 million, or $0.7 per share. This represented a regression from the net loss of $. million, or $0. per share, posted in the prior-year period. It also failed to meet analysts' average estimate of a
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