Nu Skin Enterprises
May 3, 2023
PROVO, Utah, May 3, 2023 --
Nu Skin Enterprises reported first-quarter 2023 revenue of 481.5 million dollars, down 20 percent from a year earlier, including about 29 million dollars of foreign-currency impact. Diluted EPS was 0.23 dollars, or 0.37 dollars excluding 9.8 million dollars of restructuring and impairment charges. Customers fell 18 percent to about 1.08 million and sales leaders fell 17 percent.
President and chief executive Ryan Napierski cited better-than-expected South Korea and mainland China results alongside continued Americas and Southeast Asia pressure from inflation and recession concerns. Interim chief financial officer James Thomas said the company is managing costs while investing in Nu Vision 2025 initiatives.
Nu Skin reiterated full-year 2023 revenue guidance of 2.03 billion to 2.18 billion dollars and reported EPS of 2.27 to 2.67 dollars, while raising non-GAAP EPS guidance to 2.41 to 2.81 dollars. Second-quarter guidance is revenue of 485 million to 525 million dollars and reported EPS of 0.45 to 0.55 dollars.