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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) reported Q3 2022 results, revealing a revenue decline of 5.6% to $390.4 million compared to Q3 2021. Active earning OPTAVIA Coaches increased by 8.5% to 66,200, but average revenue per coach fell by 12.9% to $5,897. Net income decreased to $36.2 million, or $3.27 per diluted share. The company announced a quarterly cash dividend of $1.64 per share and ended the quarter with $69.7 million in cash and no debt. Full-year revenue guidance was revised down to $1.51 billion to $1.59 billion due to inflation and acquisition challenges.
Medifast (NYSE: MED) announced that its OPTA VIA Program was recognized as the #1 Weight Loss Program in the U.S. by revenue for 2021, according to Euromonitor International. The program focuses on holistic health, impacting over two million lives and achieving a revenue increase of 455% over five years, from $501 million in 2018 to $1.526 billion in 2021. Medifast's independent coaches supported over one million clients in the past year. The company will announce its Q3 2022 financial results on November 3, 2022.
Medifast (NYSE: MED) will announce its third quarter financial results for the period ending September 30, 2022 on November 3, 2022, after market close. A conference call to discuss the results will take place at 4:30 p.m. ET on the same day, hosted by CEO Dan Chard and CFO Jim Maloney. Investors can join the call via the company’s website or by telephone. A playback of the call will be available until November 10, 2022. Medifast is recognized as a leader in the U.S. weight management industry, valued at $7 billion.
Medifast (NYSE: MED) has launched the "Healthy Habits For All" curriculum in partnership with WeAreTeachers, aiming to promote health education among students nationwide. Designed for grades K-5, the curriculum focuses on essential health topics such as nutrition, physical activity, and mental well-being. It is accessible to millions of teachers, with a priority on under-resourced communities. Medifast projects the program will reach over 20,000 students in 700 school districts across all 50 states. This initiative aligns with Medifast's commitment to improving public health through education.
Medifast (NYSE: MED) declared a $1.64 quarterly cash dividend, payable on November 8, 2022, to stockholders of record as of September 20, 2022. The company aims to sustain a quarterly dividend program, contingent on its Board of Directors' discretion. Medifast is a leader in the U.S. weight management market, valued at $7 billion, helping over 2 million customers through its OPTAVIA® community. This dividend announcement underscores Medifast's financial health and commitment to returning value to shareholders.
Medifast, Inc. (NYSE: MED) announced that CEO Dan Chard and CFO Jim Maloney will participate in a fireside chat at the Jefferies Virtual Fitness & Wellness Summit on September 12, 2022. A webcast of this event will be accessible on Medifast's Investor Relations website starting at 9:00am ET and will remain available for about 30 days. Medifast, recognized as a leader in the health and wellness sector, offers OPTAVIA®, a comprehensive weight management solution. The company emphasizes lifelong transformation through healthy habits.
Medifast (NYSE: MED) reported a 15.0% increase in revenue to $453.3 million for Q2 2022, driven by a 14.9% rise in active earning OPTAVIA Coaches to 68,000. However, net income decreased 16.7% to $39.1 million, leading to an EPS of $3.42, down 13.6%. The company announced a $100 million accelerated share repurchase program and plans to pay a quarterly cash dividend of $1.64 per share. Due to macroeconomic pressures, Medifast revised its full-year revenue guidance down to $1.58 billion - $1.66 billion and EPS to $12.70 - $14.10.
Medifast (NYSE: MED) hosted its annual OPTAVIA Convention from July 21-23, 2022, in Atlanta, attracting over 17,000 attendees, marking the largest event to date. The company reported significant growth, becoming the top weight loss program in the U.S. by revenue in 2021. Medifast aims to expand its presence in the $230 billion health market, with CEO Dan Chard stating they've served more clients than ever. The event included keynote speakers and raised over $90,000 for charity, emphasizing their commitment to community and health transformation.
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