Medifast Full Year 2023 Earnings: EPS Misses Expectations
Medifast (NYSE:MED) Full Year 2023 Results
Key Financial Results
Revenue: US$1.07b (down 33% from FY 2022).
Net income: US$99.4m (down 31% from FY 2022).
Profit margin: 9.3% (up from 9.0% in FY 2022). The increase in margin was driven by lower expenses.
EPS: US$9.13 (down from US$12.82 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Medifast EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.4%.
Looking ahead, revenue is expected to decline by 19% p.a. on average during the next 2 years, while revenues in the Personal Products industry in the US are expected to grow by 7.1%.
Performance of the American Personal Products industry.
The company's shares are down 23% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on Medifast's balance sheet health.
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