WW - WeightWatchers shares bulk up despite mixed earnings

WW International (NASDAQ:WW) shares jumped over 4% in extended hours on Thursday after posting a mixed quarterly print. For the first quarter, the company reported a lighter than expected loss and exceeded its expectations for EPS growth under its still-progressing turnaround plan. “We delivered EPS ahead of our guidance range for Q1, primarily due to lower marketing spend in our international markets, strong gross margin, and cost management,” CFO Amy O’Keefe explained. “We have taken significant and decisive action to reset the cost structure, while shifting the organization’s focus to executing on a narrowed set of priorities.” She added that despite the adverse market environment, she believes 2022 will serve as a turning point for the company as it shifts its trajectory. O’Keefe and newly-minted CEO Sima Sistani are leading the restructuring plan that remains underway and consists of organizational changes aimed at cost cutting and “rationalization” of real estate

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WeightWatchers shares bulk up despite mixed earnings