NATURE'S SUNSHINE PRODUCTS
March 12, 2024
LEHI, Utah, March 12, 2024 --
Nature's Sunshine Products reported fourth-quarter 2023 net sales of 108.9 million dollars, up 6.0 percent from 102.7 million dollars a year earlier, or 5.6 percent in constant currency. GAAP net income attributable to common shareholders rose to 9.0 million dollars, or 0.46 dollars per diluted share, from 2.0 million dollars, or 0.10 dollars. Adjusted EBITDA rose 21 percent to 9.7 million dollars.
Full-year sales were 445.3 million dollars, up 5.5 percent, or 7.3 percent in constant currency, with net income of 15.1 million dollars compared with a 0.4 million dollar net loss in 2022. Gross margin for the year expanded 110 basis points to 72.1 percent. Chief Executive Terrence Moorehead said North America delivered double-digit fourth-quarter growth and that gross-margin initiatives remained on track.
Cash and cash equivalents were 82.4 million dollars with no outstanding debt at year end. Nature's Sunshine guided 2024 net sales to 455 million to 480 million dollars and adjusted EBITDA to 42 million to 48 million dollars.