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Medifast, Inc. (NYSE: MED), established in 1980, is a renowned nutrition and weight loss company based in Maryland. With the endorsement of over 20,000 doctors, Medifast is a trusted name in the industry, known for its clinically proven products developed by physicians. The company's mission is to empower individuals to lead healthier lives by providing effective weight loss and management solutions.
Medifast offers a diverse range of support programs tailored to meet the unique needs and goals of its customers. These programs are designed to help individuals achieve their health and wellness objectives through personalized guidance and scientifically backed products. The company’s vision is to create a world where people can easily take control of their own well-being, believing that healthier individuals lead happier lives.
One of the core aspects of Medifast's approach is its commitment to producing results and helping people succeed on their wellness journeys. The company generates revenue primarily through e-commerce transactions, where it sells various health and nutritional products aimed at promoting weight loss, weight management, and overall healthy living.
Recent achievements of Medifast include expanding its product line to cater to a broader audience and forming strategic partnerships to enhance its distribution network. The company’s current projects focus on leveraging technology to provide more personalized and accessible health solutions to its customers. Financially, Medifast has shown resilience and growth, reflecting its strong market position and the effectiveness of its business strategies.
Medifast's dedication to changing lives is evident in the numerous success stories of individuals who have transformed their health and well-being through its programs. By providing the right opportunities and support, Medifast continues to make a significant impact on the lives of many, fostering a sense of joy and achievement among its customers.
Medifast (NYSE: MED) will report its financial results for Q1 2023, which ended on March 31, on May 1, 2023, after the market closes. This announcement will be followed by a conference call at 4:30 PM ET the same day, featuring Dan Chard, CEO, and Jim Maloney, CFO. The call will be accessible via the Investor Relations section of Medifast's website and archived until August 1, 2023. Medifast is a leader in the U.S. weight management industry, generating around $7 billion in revenue and known for its OPTAVIA brand that promotes healthy habits. The company has received recognition as one of America’s Best Mid-Sized Companies and has positively impacted over 2 million lives through its health and wellness community.
Medifast (NYSE: MED) has declared a $1.65 quarterly cash dividend to its shareholders, payable on May 9, 2023, to those on record by March 28, 2023. This signifies the company's commitment to returning value to its investors. Medifast aims to maintain a program of quarterly dividends; however, future declarations are subject to the discretion of the Board, depending on various factors. As a leading player in the $7 billion U.S. weight management industry, Medifast's community-focused model has transformed over 2 million lives through OPTA VIA Coaches. For further details, visit MedifastInc.com.
Medifast (NYSE: MED) announced the appointment of Steven Zenker as its new Vice President of Investor Relations on March 2, 2023. Zenker brings over 30 years of experience in investor relations, financial planning, and investment management. Reporting to CFO Jim Maloney, he will enhance Medifast's investor relations strategy. Maloney expressed confidence in Zenker's leadership to strengthen connections with the financial community and communicate the company's unique business model. Zenker previously held various leadership roles, including at Sinclair Broadcast Group and Central Garden & Pet Company, and holds degrees from SUNY Albany and Fordham University.
Medifast (NYSE: MED) reported its fourth quarter 2022 results, revealing a revenue of $337.2 million, a decrease of 10.7% year-over-year. The company had 60,900 active OPTAVIA Coaches, with revenue per coach declining 12.4% to $5,538. Net income stood at $26.5 million, with an EPS of $2.41. For the full year, revenue increased 4.8% to $1.6 billion, but net income fell to $143.6 million. The company holds $87.7 million in cash and has no debt. Looking ahead, Q1 2023 revenue is projected between $300 million and $320 million.
Medifast (NYSE: MED) will announce its fourth quarter and full year financial results on February 21, 2023, after market close. The announcement will be followed by a conference call at 4:30 p.m. ET, featuring CEO Dan Chard and CFO Jim Maloney. Interested parties can listen via the company's website. A telephonic playback will be available from 6:30 p.m. ET on the same day until February 28, 2023. Medifast emphasizes its position as a leader in the $7 billion weight management industry, impacting over 2 million lives through its community of OPTAVIA Coaches.
On December 8, 2022, Medifast (NYSE: MED) announced a quarterly cash dividend of $1.64 per share to stockholders, payable on February 7, 2023, to those on record as of December 20, 2022. The company aims to maintain a consistent dividend program, although future declarations depend on the Board of Directors' discretion based on relevant evaluations. Medifast is a leader in the $7 billion weight management industry, impacting over 2 million lives through its health community, OPTAVIA.
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