WeightWatchers Stock Falls After Q4 Results, Oprah Winfrey Exits

WW International Inc. WW reported its fourth-quarter financial results after the bell Wednesday. The company also announced Oprah Winfrey decided not to stand for re-election to its board of directors.

The Details: WW International reported quarterly adjusted losses per share of $1.11. Quarterly sales clocked in at $206 million, missing the analyst consensus estimate of $206.21 million.

“2023 was a pivotal year as we began transforming our business for the future. We returned WeightWatchers to year-end subscriber growth — for the first time in 3 years — up 7% year-over-year,” said Sima Sistani, CEO of WW International (formerly known as Weight Watchers International).

“We are on track to deliver growth in total subscribers in 2024, expecting to end the year with subscribers in the range of 3.8 million to 4.0 million, including between 140 thousand and 160 thousand subscribers to our new WeightWatchers Clinic,” Sistani added.

Winfrey has decided not to stand for re-election to the WW International board of directors. She has served on the board since 2015.

“I look forward to continuing to advise and collaborate with WeightWatchers and CEO Sima Sistani in elevating the conversation around recognizing obesity as a chronic condition, working to reduce stigma, and advocating for health equity,” said Winfrey.

“Weight health is a critically important topic and one that needs to be addressed at a broader scale. I plan to participate in a number of public forums and events where I will be a vocal advocate in advancing this conversation,” continued Winfrey.

“In addition, I have decided to donate my interest in WeightWatchers to the National Museum of African American History and Culture (NMAAHC),” she added.

WW International said that it supported Winfrey’s decision to donate her stock to NMAAHC and said the proceeds from any future exercises of her WW International stock options would also be donated to NMAAHC.

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WW Price Action: According to Benzinga Pro, WW International shares are trading down 22.15% after-hours at $2.97 at the time of publication Wednesday.

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