Medifast, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 04:05 pm EDT
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Medifast, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 296.19 million compared to USD 453.33 million a year ago. Net income was USD 30.28 million compared to USD 39.11 million a year ago. Basic earnings per share from continuing operations was USD 2.78 compared to USD 3.44 a year ago. Diluted earnings per share from continuing operations was USD 2.77 compared to USD 3.42 a year ago.
For the six months, sales was USD 645.17 million compared to USD 870.93 million a year ago. Net income was USD 70.25 million compared to USD 80.89 million a year ago. Basic earnings per share from continuing operations was USD 6.46 compared to USD 7.06 a year ago. Diluted earnings per share from continuing operations was USD 6.43 compared to USD 7.01 a year ago.
Medifast, Inc. is a health and wellness company. The Company provides a habit-based and coach-guided lifestyle solution OPTAVIA, which provides people with a comprehensive approach to help them achieve lasting optimal health and wellbeing. OPTAVIA's lifestyle plans deliver clinically proven health benefits as well as evidence-based tools, including scientifically developed products and a framework for habit creation reinforced by independent coaches and community support. Through a collaboration with the virtual primary care provider LifeMD, Inc (LifeMD), OPTAVIA customers have access to board-certified affiliated clinicians and medications, such as GLP-1s, that support treatment plans for obesity and other health conditions. OPTAVIA Coaches introduce customers to a set of healthy habits, and offer OPTAVIA-branded products, including Fuelings as well as OPTAVIA ACTIVE, a line of essential amino acid supplements and protein powders. Its operations are conducted through its subsidiaries.
MEDIFAST, INC. 
