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Mar 31, 2021
Medifast Q1 2021 Earnings Report
Medifast reported an exceptional quarter of growth and productivity, driven by the abilities of independent OPTAVIA Coaches and employees.
Key Takeaways
Medifast reported a significant increase in revenue and earnings for the first quarter of 2021. Revenue increased by 90.9% to $340.7 million, driven by a rise in active OPTAVIA Coaches and increased productivity. Net income also saw a substantial increase, reaching $41.1 million, or $3.46 per diluted share.
First quarter revenue increased by 90.9% to $340.7 million compared to the prior-year period.
The total number of active earning OPTAVIA Coaches increased 61.0% to 52,500.
Average revenue per active earning OPTAVIA Coach increased 21.0% to $6,454.
First quarter net income was $41.1 million, or $3.46 per diluted share.
Forward Guidance
The Company expects full-year 2021 revenue to be in the range of $1.4 billion to $1.475 billion and full-year 2021 EPS to be in the range of $12.69 to $14.14. The full-year 2021 earnings guidance assumes a 23.0% to 24.0% effective tax rate.
Positive Outlook
- Full-year 2021 revenue expected to be in the range of $1.4 billion to $1.475 billion.
- Full-year 2021 EPS expected to be in the range of $12.69 to $14.14.
- Earnings guidance assumes a 23.0% to 24.0% effective tax rate.
- Company maintains a strong balance sheet.
- Company prioritizes capital allocation to drive long-term stockholder value.
Challenges Ahead
- Risks associated with Medifast’s direct-to-consumer business model.
- Impact of rapid growth on Medifast’s systems.
- Disruptions in Medifast’s supply chain.
- Inability to maintain and grow the network of independent OPTAVIA Coaches.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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