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Mar 31, 2021
Nature's Sunshine Q1 2021 Earnings Report
Reported record first quarter results with net sales increasing 7% to $102.4 million.
Key Takeaways
Nature's Sunshine Products reported a record first quarter in 2021, with net sales reaching $102.4 million, a 7% increase compared to the previous year. GAAP net income increased significantly to $4.2 million, or $0.20 per diluted share. Non-GAAP net income per diluted share was $0.21. Adjusted EBITDA increased 20% to $11.6 million.
Net sales increased 7% to a record $102.4 million compared to $95.9 million.
GAAP net income increased significantly to $4.2 million, or $0.20 per diluted share, compared to $3.0 million, or $0.15 per diluted share.
Non-GAAP net income per diluted share was $0.21, compared to an adjusted net income per share of $0.12.
Adjusted EBITDA increased 20% to $11.6 million compared to $9.7 million.
Nature's Sunshine
Nature's Sunshine
Nature's Sunshine Revenue by Geographic Location
Revenue by Geographic Location
Asia Revenue
CapyFin.comEurope Revenue
CapyFin.comNorth America Revenue
CapyFin.comLatin America and Other Revenue
CapyFin.com Forward Guidance
The company is optimistic that its momentum will continue in 2021 as it launches the next phase of its customer-driven strategy. They believe they are well-positioned to intensify their efforts and move forward with confidence.
Positive Outlook
- Momentum is expected to continue as the next phase of the customer-driven strategy is launched.
- The company believes it is well-positioned to intensify efforts.
- The company has confidence in the strong operational and financial foundation built by the team.
- The global response to the new branding has been tremendous.
- The 'Subscribe and Thrive' auto-ship program continues to gain traction.
Challenges Ahead
- The market remains dynamic.
- Gross margin decreased due to changes in market mix, material cost increase, and changes in inventory reserves.
- Selling, general and administrative expenses increased primarily attributable to higher costs associated with the implementation of business transformation initiatives as well as growth in markets with higher variable costs.
- Net cash provided by operating activities was $2.7 million compared to $13.5 million provided in the prior year period.
- Other loss, net, primarily consisted of foreign exchange losses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income