Medifast says 2024 guidance issued inadvertently, should not be relied on

Medifast disclosed that it attended an investor meeting yesterday, during which management of the company discussed its previously disclosed “Fuel for the Future” program, and inadvertently shared the company’s internal target, that was established at the beginning of 2023, of anticipated flat revenue growth for fiscal year 2024, which could be perceived as providing guidance. “There was no intention to provide 2024 guidance, as the Company has not yet finalized its forecast and planning for 2024, and therefore no reliance should be made on such information. The 2024 aspirational, internal, revenue target is subject to numerous uncertainties as described below and could meaningfully change depending on future developments,”Medifast said in a regulatory filing.