Medifast Q2 2024 Adj. EPS $0.92 Beats $0.39 Estimate, Sales $168.558M Miss $174.050M Estimate
Portfolio Pulse from Benzinga Newsdesk
Medifast (NYSE:MED) reported Q2 2024 adjusted EPS of $0.92, significantly beating the analyst estimate of $0.39. However, sales of $168.558 million missed the $174.050 million estimate and were down 43.09% year-over-year.
August 05, 2024 | 8:27 pm
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Medifast's Q2 2024 earnings per share of $0.92 beat expectations by 135.9%, but sales of $168.558 million missed estimates and were down 43.09% year-over-year.
While Medifast's EPS significantly beat expectations, the miss on sales and the substantial year-over-year decline in revenue present a mixed outlook. The positive EPS surprise may provide some short-term support to the stock, but the sales miss and revenue decline could weigh on investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100