Rite Aid plummets. CEO Hayward Donigan quotes Covid for a cautious outlook

Rite Aid CEO Hayward Donigan told CNBC Thursday that she was “carefully optimistic.” Delta variant..

“We all want enough people to be vaccinated and important enough to close our market again,” said Donigan. “Squawk Box”

Still, CEO said drugstore chains are cautious about financial forecasts, partly because of the unpredictable impact of the coronavirus pandemic on their business.

Rite Aid’s stock fell about 14% on Thursday, and as Wall Street digested, the company’s stock market value fell below $ 1 billion. Mixed first quarter results And weak earnings guidance.

According to FactSet, Rite Aid’s forecast for adjusted EBITDA (interest, taxes, depreciation, income before amortization) was $ 440 million and $ 480 million in fiscal year 2022, an estimate of 500 million. It was below $ 24 million.

“I’m very cautious last quarter because I made a mistake due to a complete meltdown. I call it cough, cold, flu, because I didn’t have a cough, cold at both the pharmacy and the front end. “Influenza,” Donigan hinted at recent times. Surprisingly mild flu season Impact on the United States and its Rite Aid.

Donigan, CEO of Pennsylvania, said: Rite Aid base after August 2019.

“We expect some improvement, not complete improvement,” Donigan added.

She also said, “It’s very difficult, it’s very difficult to predict, and the year-round results at retail pharmacies in the midst of a pandemic … are still facing this problem to some extent.” I admitted.

According to FactSet, the company’s full-year revenue is between $ 25.1 billion and $ 25.5 billion, exceeding Wall Street’s forecast of $ 24.66 billion.

Rite Aid outlook is not taken into account Potential Covid Vaccine Booster Or vaccinations for children under the age of 12 have been pointed out by Donigan. A trial is currently underway to test the vaccine in children under the age of 12.

Food and Drug Administration cleared Pfizer “■ Covid vaccine Used for children 12 to 15 years old A little over a month ago. ModanaAlso manufactures a double vaccination, but to the FDA Expand Emergency Use Authorization It is intended for adolescents aged 12 to 17 years.

Rite Aid plummets. CEO Hayward Donigan quotes Covid for a cautious outlook

Source link Rite Aid plummets. CEO Hayward Donigan quotes Covid for a cautious outlook

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