WW International Slips To Loss In Q3; Cuts FY Outlook

(RTTNews) - WW International Inc. (WW) reported that its third quarter net loss was $206.0 million or $2.93 per share compared to net income of $46.3 million or $0.65 per share in the prior year period.

Revenues for the quarter declined to $249.72 million from $293.50 million in the previous year. On a constant currency basis, revenues decreased 10.7% versus the prior year period.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.36 per share and revenues of $252.99 million for the quarter. Analysts' estimates typically exclude special items.

The company cut its full year fiscal 2022 guidance.

Annual revenues are expected to be about $1.04 billion, reflecting greater pressure from foreign currency and lower subscriber levels. Prior revenue guidance was in the range of $1.05 billion to $1.09 billion.

Annual GAAP net loss per share expected to be in the range of $3.16 to $3.21, which incorporates a negative net impact of about $3.94 per share from the Franchise Rights Acquired and Goodwill impairment charges. Prior GAAP earnings per share guidance was in the range of $0.25 to $0.30 per share.

Wall Street currently is looking for fiscal year 2022 earnings of $0.25 per share on annual revenues of $1.06 billion.

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