NATURE'S SUNSHINE PRODUCTS
November 7, 2023
LEHI, Utah, November 7, 2023 --
Nature's Sunshine Products reported third-quarter 2023 net sales of 111.2 million dollars, up 6 percent from 104.5 million dollars a year earlier, or 7.1 percent in constant currency. Asia sales rose 9.1 percent to 52.2 million dollars, up 12.4 percent in local currency, and North America rose 10.4 percent to 34.8 million dollars, while Europe fell 2.9 percent and Latin America and other fell 6.4 percent.
Gross margin improved 150 basis points to 73.1 percent. Net income attributable to common shareholders rose to 2.8 million dollars, or 0.15 dollars per diluted share, from 0.1 million dollars, and adjusted EBITDA increased 50 percent to 10.3 million dollars. Chief Executive Terrence Moorehead credited digital investments and improved field activation for North America's strongest growth in many years.
The company maintained its full-year 2023 net sales outlook of 443 million to 451 million dollars and raised its adjusted EBITDA forecast to 37 million to 40 million dollars from an original range of 34 million to 38 million dollars.