Benzinga | Sep 24, 2020 07:04AM EDT

Rite Aid Sees FY21 Adj. EPS $(0.67)-$0.09 vs $0.38 Est., Sales $23.5B-$24B vs $23.47B Est.

Outlook for Fiscal 2021

Rite Aid Corporation is issuing revised fiscal 2021 guidance. The company's guidance assumes strong demand for flu immunizations, continued improvement in pharmacy network management at Elixir and savings from our previously announced cost reduction initiatives, offset by continued reimbursement rate pressure and the impact of a less severe cough, cold and flu season on OTC sales and related prescriptions.

Rite Aid Corporation expects revenues to be between $23.5 billion and $24.0 billion in fiscal 2021 with same store sales expected to range from an increase of 3.0 percent to an increase of 4.0 percent over fiscal 2020.

Net loss is expected to be between $190 million and $140 million.

Adjusted EBITDA is expected to be between $475 million and $525 million.

Adjusted net (loss) income per share is expected to be between $(0.67) and $0.09.

Capital expenditures are expected to be approximately $275 million.

Free cash flow is expected to be between $110 million and $160 million.