Nu Skin Enterprises
October 1, 2020
Nu Skin Enterprises estimated third-quarter 2020 revenue of 700 million to 703 million dollars, far above its previous guidance of 605 million to 635 million dollars. The Provo, Utah company, traded on the New York Stock Exchange as NUS, released the preliminary figure on October 1, 2020, and said full results and an updated 2020 outlook would come after the market close on November 4.
Chief executive Ritch Wood said ongoing investment in a digitally enabled business model and a strong product portfolio drove significant growth in both customers and sales leaders. He said results also benefited from consumers spending more time online and working from home, with sales leaders using social sharing. Digital transactions accounted for about 90 percent of sales in the quarter.
Wood said the business showed more geographic balance, with continued expansion in the West, sequential improvement in China, and strong growth in the manufacturing segment. He pointed to coming global previews of a new ageLOC Boost device and a Nutricentials Bioadaptive Skin Care line as the company heads into the fourth quarter.
Management planned an investor call at 5 p.m. Eastern Time on November 4, with a webcast on the company investor relations site and a replay available through November 18. The company warned that the figures are preliminary and that closing and review procedures could require material adjustments. Nu Skin said it sells beauty and wellness products through sales leaders in Asia, the Americas, Europe, Africa, and the Pacific, and that its Rhyz arm includes manufacturing and technology companies.