Nature's Sunshine Second Quarter Sales Fall 5 Percent; Cuts Full-Year Outlook on Asia Weakness

LEHI, Utah, August 8, 2024 --

Nature's Sunshine Products reported second-quarter 2024 net sales of 110.6 million dollars, down 5 percent from 116.5 million dollars a year earlier, or 3 percent in constant currency. Net income attributable to common shareholders fell to 1.3 million dollars, or 0.07 dollars per diluted share, from 2.4 million dollars, and adjusted EBITDA fell 8 percent to 10.4 million dollars.

Asia sales fell 8.9 percent and North America fell 3.2 percent, while Europe rose 1.7 percent. Chief Executive Terrence Moorehead cited macroeconomic headwinds in China, slower U.S. consumer spending and a temporary disruption in North America tied to a digital platform upgrade. He said the company cut more than 5 million dollars of annualized SG&A costs.

Citing softness in Asia, Nature's Sunshine lowered its full-year 2024 outlook to net sales of 436 million to 445 million dollars, from 455 million to 480 million dollars, and adjusted EBITDA of 39 million to 42 million dollars, from 42 million to 48 million dollars.