Medifast Second Quarter 2024 Earnings: Misses Expectations

Medifast (NYSE:MED) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$168.6m (down 43% from 2Q 2023).
• Net loss: US$8.15m (down by 127% from US$30.3m profit in 2Q 2023).
• US$0.75 loss per share (down from US$2.78 profit in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Medifast Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) was also behind analyst expectations.

Looking ahead, revenue is expected to decline by 20% p.a. on average during the next 2 years, while revenues in the Personal Products industry in the US are expected to grow by 6.5%.

Performance of the American Personal Products industry.

The company's shares are down 4.4% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Medifast that we have uncovered.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com