Here comes Weight Watchers...

Mohammed Elshamy/Anadolu Agency/Getty Images)Mindy Grossman, President & Chief Executive Officer, Weight Watchers speaks at Forbes Women’s Summit 2018 in New York, United States on June 19, 2018.
  • Weight Watchers is set to report first-quarter earnings after the market close on Thursday.
  • The company’s shares have been under pressure in 2019 despite a shift to app-based services.
  • Watch Weight Watchers trade live.

Weight Watchers will report earnings after Thursday’s closing bell.

Here’s what analysts surveyed by Bloomberg are expecting:

  • Adjusted loss per share: $US0.26
  • Revenue: $US365.6 million
  • EBIT: $US80.3 million

Management had previously warned of decreasing revenues on its fourth-quarter call, referencing a “slow start” to the 2019 diet season. The company has sought to introduce new innovations to its business in recent years, such as the Weight Watchers app, which operates via a subscription service. The app assigns every food you eat a point value with users having a point limit for each week.

In March 2018, Weight Watchers spokesperson Oprah Winfrey sold 1 million shares of the company, avoiding losses in the tens of millions of dollars.

The company’s previously shares soared on the affiliation of Winfrey and other celebrities, such as DJ Khaled. In May 2018, the company’s weight-control program reported a record 4.6 million subscribers. Shares to a record high of $US105.60 in June.

Since then, however, subscribers have fallen significantly, to 3.2 million at the end of 2018. That has put pressure on shares, which have plunged 70% to about $US20 apiece. At current prices, Winfrey has made nearly tripled her 2015 investment in Weight Watchers and at one point owned 10% of the company.

Weight Watchers is down 49% this year.

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