[ad_1]
RiverNorthPhotography/iStock Unreleased through Getty Photographs
Ceremony Support Company (NYSE:RAD) slipped ~13% pre-market Thursday after the pharmacy retailer reported a decline in Q2 FY23 income and slashed the full-year outlook for EBITDA, citing cautious shopper demand and provide chain points.
Income for the quarter dropped ~3% YoY to $5.9B amid a decline in COVID-related income and retailer closure at the same time as retail comparable retailer prescriptions and comparable retailer acute prescriptions, excluding COVID vaccinations, rose ~3% and ~5%, respectively.
The corporate’s Retail Pharmacy Phase and Pharmacy Companies Phase reported a ~1% YoY and ~9% YoY decline in income, respectively.
Whereas adj. EBITDA plunged ~26% YoY to $78.5M, the online loss jumped ~230% YoY to $331.3M due primarily to a $252.2M impairment cost associated to the Pharmacy Companies Phase.
RAD reiterated the income outlook for fiscal 2023 at $23.6B – $24.0B and expanded the online loss forecast to $520.3M – $477.3M as a result of goodwill impairment within the Pharmacy Companies Phase and elevated impairments for retailer closures.
Citing cautious shopper demand and provide chain constraints within the retail enterprise, RAD additionally lowered the adj. EBITDA steering to $450M and $490M from the earlier projection of $460M – $500M.
Source link