Medifast Q1 2024 Adj EPS $0.66 Misses $0.78 Estimate, Sales $174.739M Beat $168.900M Estimate
Portfolio Pulse from Benzinga Newsdesk
Medifast reported Q1 2024 earnings of $0.66 per share, missing the consensus estimate of $0.78, and sales of $174.739M, beating the estimate of $168.900M. This represents a significant decrease in both earnings and sales from the same period last year.
April 29, 2024 | 8:31 pm
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NEGATIVE IMPACT
Medifast's Q1 2024 earnings missed estimates with a significant decrease from last year, though sales slightly exceeded expectations.
The miss on earnings per share (EPS) expectations and the significant year-over-year decrease in both earnings and sales are likely to negatively impact investor sentiment and could lead to a short-term decrease in Medifast's stock price. However, the slight beat on sales estimates may provide some offsetting positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100