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Mar 31, 2023
Nu Skin Q1 2023 Earnings Report
Nu Skin's Q1 2023 results were announced, aligning with expectations, but revenue and EPS decreased compared to the prior-year quarter.
Key Takeaways
Nu Skin Enterprises reported first quarter 2023 financial results that were in line with expectations. Revenue was $481.5 million, a decrease of 20% compared to the prior-year quarter. EPS was $0.23, or $0.37 excluding restructuring and impairment charges, compared to $0.76 in the prior-year quarter. The company reiterated its 2023 guidance, expecting gradual sequential improvements throughout the year.
First quarter results aligned with guidance, showing better performance in South Korea and Mainland China.
Americas and Southeast Asia were impacted by macro-economic factors like inflation and recession concerns.
Sequential trends in customers and paid affiliates in Mainland China improved.
ageLOC® TRMe® launched in South Korea, while ageLOC® LumiSpa® iO device continued to gain traction.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company is reiterating its 2023 guidance with gradual sequential improvements in the business throughout the year, despite a challenging global macro environment. For Q2 2023, revenue is projected to be $485 to $525 million with EPS of $0.45 to $0.55.
Positive Outlook
- Reiterating 2023 revenue guidance of $2.03 to $2.18 billion.
- Expecting gradual sequential improvements in business throughout the year.
- Managing cost structure conservatively and investing in key growth initiatives.
- Reiterating reported EPS of $2.27 to $2.67.
- Increasing non-GAAP EPS to $2.41 to $2.81, excluding the first quarter restructuring charge of $9.8 million.
Challenges Ahead
- Challenging global macro environment.
- Negative foreign currency impact of approximately 1 to 2 percent expected.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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