Rite Aid Corporation (NYSE:RAD) shares rose nearly 8% on Friday following the company’s reported Q1 earnings results, with EPS coming in at ($0.60), better than the Street estimate of ($0.70). Revenue was $6.01 billion, beating the Street estimate of $5.75 billion.
The company expects the full 2023-year EPS to be in the range of ($1.19)-($0.66), compared to the Street estimate of ($1.41). 2023 revenue is expected in the range of $23.6-24 billion, compared to the Street estimate of $22.91 billion. The company maintained its EBITDA target in the range of $460 million-$500 million.