What happened Shares of Rite Aid (NYSE: RAD) were sinking 8% as of 11:06 a.m. EDT on Thursday. The decline came after the pharmacy chain announced its second-quarter earnings results before the market opened. So what Revenue from continuing operations in the second quarter was $6.11 billion, up 2.2% year over year. This fell short of the Wall Street consensus estimate of $6.21 billion. The company announced an adjusted net loss from continuing operations in the second quarter of $22 million, or $0.41 per share. This reflected significant deterioration from Rite Aid's adjusted net income of $13.5 million, or $0.25 per share, in the prior-year period. However, the adjusted net loss came in better than the average analysts' estimate of a net loss of $0.48 per share. Image source: Getty Images. Investors shouldn't place too much focus on a single quarter. Rite Aid's second-quarter results provide only a snapshot of how the company is doing. In this case, though, those results reflect both the progress it is making and the challenges that it continues to face. Rite Aid's retail pharmacy business continues to perform relatively well. Sales increased 6.5% year over year to $4.28 billion. But the company's pharmacy services segment is struggling. Revenue fell 6.9% to $1.9 billion with declining membership in the pharmacy benefits management business and Elixir insurance. Now what Rite Aid thinks that it could receive a boost from increased demand for COVID vaccines and testing through the end of the year. The company increased its full-year guidance for adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to a range of $460 million to $500 million. 10 stocks we like better than Rite AidWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Rite Aid wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of September 17, 2021 Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source