Medifast down 29% premarket on Q3 miss and guidance cut

Medifast (NYSE:MED) is down 29% premarket on light volume on the heels of its Q3 report released after the close yesterday. Highlights:

Revenue: $190.1M (+36.5%).

Net income: $15.9M (+15.4%); EPS: $1.32 (+15.8%).

Q4 guidance: Revenue: $157M – 167M; EPS: $1.03 – 1.13.

2019 guidance: Revenue: $700M – 710M from $730M – 750M; EPS: $5.80 – 5.90 from $6.75 – 6.95. Guidance revised due to “short-term challenges.”

Previously: Medifast EPS misses by $0.01, misses on revenue (Nov. 7)

https://seekingalpha.com/news/3517104-medifast-29-percent-premarket-q3-miss-guidance-cut