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Mar 31, 2024
Nu Skin Q1 2024 Earnings Report
Nu Skin's first quarter revenue aligned with guidance, but was negatively impacted by foreign currency headwinds. Cost management efforts helped the company post earnings per share in the upper half of its guide.
Key Takeaways
Nu Skin Enterprises reported first quarter results in line with guidance. Revenue was $417.3 million, a decrease of 13.3% year-over-year, but Rhyz revenue increased by 57.5%. The company reported a loss per share of $(0.01), or earnings per share of $0.09 excluding restructuring charges.
First quarter revenue came in at the mid-point of guidance, impacted by foreign currency headwinds.
Rhyz business grew nearly 60% year-over-year.
Macro-economic environment impacted affiliate and customer growth.
Aligned around the upcoming preview of new MYND360 cognitive health line and saw healthy energy for the opening of India next year.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
For the second quarter, the company projects sequential improvement with revenue of $420 to $455 million, assuming an increased foreign currency impact, with reported earnings per share of $0.01 to $0.10 or $0.10 to $0.20 excluding restructuring charges.
Positive Outlook
- Strategic measures to refine cost structure.
- Cost-saving initiatives to boost productivity.
- Vigilant in scrutinizing all facets of operations.
- Prioritizing initiatives to drive revenue.
- Amplifying margins and securing financial position.
Challenges Ahead
- Negative foreign currency impacted results more than initially expected.
- Foreign currency impact will likely continue.
- Revenue is expected to be $420 to $455 million, (16)% to (9)%.
- Approximately (4) to (3)% FX impact.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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