Medifast, Inc. (NYSE:MED) Q1 2024 Earnings Call Transcript

James Maloney: Yes. I mean, when you look at the gross margin we were 220 basis points higher than 2023 and most of that impact versus the prior year was due to the Fuel for the Future initiatives that we referred to, which helped gross margins. So, I would expect that gross margins would be steady for the next quarter. The reason is, because we’re really, when you look at commodity inflation, we’re basically seeing it to be flat for at least the next quarter. So I would expect it to be very similar.

Linda Bolton-Weiser: So you mean flat with — compared with first quarter, flat sequentially?

James Maloney: Correct. Flat sequentially, correct.

Linda Bolton-Weiser: Okay, thank you. That’s very helpful. That’s all I have. Thanks.

Operator: Thank you. And since we have no more questions, I will now turn the call back over to CEO Dan Chard for closing remarks.

Dan Chard: I want to thank you all for joining us today, and we look forward to speaking with you at upcoming conferences and on our second quarter earnings call in early August. Thank you.

Operator: And this concludes today’s conference and you may disconnect your lines at this time. Thank you for your participation.