WW stock falls after Q3 sales miss targets, membership slows

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Shares of WW International Inc. WW, -2.59% fell more than 5% in the extended session Thursday after the company formerly known as Weight Watchers reported quarterly sales below Wall Street expectations and said that member recruitment slowed down. WW said it earned $46.3 million, or 65 cents a share, in the quarter, compared with $54.5 million, or 78 cents a share, in the prior-year period. Revenue fell to $293 million from $321 million a year ago. FactSet consensus called for EPS of 73 cents n sales of $314 million. The company said it ended the quarter with 4.5 million subscribers. WW guided for full-year fiscal 2021 revenue “modestly above” $1.2 billion, and GAAP EPS in the range between 80 cents and 90 cents. “In an environment that was difficult to predict, member recruitment slowed more than we had anticipated during the quarter,” Chief Financial Officer Amy O’Keefe said in a statement. Shares of WW ended the regular trading day down 2.6%.

This article was originally published by Marketwatch.com. Read the original article here.

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