MED - Medifast Non-GAAP EPS of $3.70 beats by $1.48 revenue of $337.2M beats by $7.1M

• Medifast press release ( NYSE: MED ): Q4 Non-GAAP EPS of $3.70 beats by $1.48 .
• Revenue of $337.2M (-10.7% Y/Y) beats by $7.1M .

• Full Year 2022 Highlights

• Revenue increased 4.8% to $1.6 billion

• Net income of $143.6 million (non-GAAP adjusted net income of $163.5 million)

• EPS of $12.73 (non-GAAP adjusted EPS of $14.50)

• Cash, cash equivalents and investment securities of $87.7 million and the Company remains free of interest-bearing debt as of December 31, 2022

• Outlook

• The company expects first quarter 2023 revenue to be in the range of $300 million to $320 million

• First quarter 2023 diluted EPS to be in the range of $1.75 to $2.40.

• The first quarter 2023 earnings guidance assumes a 26% to 27% effective tax rate.

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