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Rite Aid profit beats consensus by 44.1% in fiscal Q2

Rite Aid Corp. said its normalized net income for the fiscal second quarter ended Aug. 30 was 9 cents per share, compared with the S&P Capital IQ consensus estimate of 7 cents per share.

EPS rose 33.0% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $95.7 million, a gain of 43.5% from $66.7 million in the prior-year period.

The normalized profit margin rose to 1.5% from 1.1% in the year-earlier period.

Total revenue increased year over year to $6.52 billion from $6.28 billion, and total operating expenses rose on an annual basis to $6.27 billion from $6.06 billion.

Reported net income rose on an annual basis to $129.2 million, or 13 cents per share, from $28.4 million, or 3 cents per share.