Medifast Q1 revenue down 16.4% to $349M; guides Q2 revenue $250-270M, EPS $1.32-1.44

MEDIFAST INC

2023-Q1 EPS reported $3.67 revenue$348,983,000

Revenue $349M (-16.4% YoY); net income $40M ($3.67 diluted EPS) vs $41.8M ($3.59) prior year.
Active earning OPTA VIA coaches 58,700 (-8.1%); revenue per coach $5,945 (-9.0%).
Gross profit margin 70.6% vs 72.4% due to cost inflation and lower volumes.
Q2 2023 guidance: revenue $250-270M, diluted EPS $1.32-1.44, effective tax rate 24.5-26.25%.
Quarterly dividend $1.65/share payable May 9; cash $123.7M, no debt.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MEDIFAST INC reported the first quarter ended March 31, 2023 results: revenue $349.0 million, net income $40.0 million, EPS $3.67 per diluted share.

Period: the first quarter ended March 31, 2023
Revenue: $349.0 million
Net income: $40.0 million
EPS: $3.67 per diluted share
Result: reported results

Exact text from the filing

Medifast (NYSE: MED), the global company behind one of the fastest-growing health and wellness communities, OPTA VIA® , today reported results for the first quarter ended March 31, 2023. First Quarter 2023 • Revenue of $349.0 million, with revenue per active earning coach of $5,945 • Independent active earning OPTA VIA Coaches of 58,700 • Net income of $40.0 million • Earnings per diluted share (“EPS”) of $3.67

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Source: SEC EDGAR

accession 0001628280-23-014561

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