Medifast Inc reports results for the quarter ended in March - Earnings Summary

Medifast

30/04/2024 02:28

* Medifast Inc  MED.N  reported quarterly adjusted earnings
of 66
cents​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of $3.67. 
The mean expectation of two analysts for the quarter was
for earnings of 78 cents per share. Wall Street expected
results to range from 74 cents to 82 cents per share.
    * Revenue fell 49.9% to $174.74 million from a year ago;
analysts
expected $168.90 million. 
    * Medifast Inc's reported EPS for the quarter was 76 cents​.
    * The company reported quarterly net income of $8.32
million.
    * Medifast Inc shares had fallen by 12.0% this quarter and
lost 49.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 47.8%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the food
processing
peer group is also "hold"

Wall Street's median 12-month price target for Medifast Inc is
$37.50 
This summary was machine generated from LSEG data April 30 at
01:28 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.78           0.66           Missed
 Dec. 31 2023      0.96           0.55           Missed
 Sep. 30 2023      1.07           2.12           Beat
 Jun. 30 2023      1.44           2.77           Beat