Nu Skin First Quarter Sales Fall 13 Percent to 417 Million; Rhyz Grows Nearly 60 Percent

PROVO, Utah, May 8, 2024 --

Nu Skin Enterprises reported first-quarter 2024 revenue of 417.3 million dollars, down 13.3 percent from 481.5 million dollars a year earlier, including a 3.8 percent foreign-currency headwind, while posting a diluted net loss of 0.01 dollars per share, or 0.09 dollars excluding restructuring charges.

Customers fell 19 percent to 875,261 and paid affiliates fell 30 percent to 154,171. The Rhyz investment arm grew 57.5 percent to 62.5 million dollars in revenue. Core Nu Skin revenue fell 19.7 percent. The company recorded 7.1 million dollars of restructuring and impairment expenses in the quarter.

President and Chief Executive Ryan Napierski said cost management kept earnings in the upper half of guidance despite heavier FX pressure. Nu Skin held full-year 2024 revenue guidance of 1.73 billion to 1.87 billion dollars and guided second-quarter revenue of 420 million to 455 million dollars.