Nu Skin Fourth Quarter Sales Fall 6 Percent; Cuts Dividend and Recasts Capital Allocation

PROVO, Utah, February 14, 2024 --

Nu Skin Enterprises reported fourth-quarter 2023 revenue of 488.6 million dollars, down 6 percent from 522.3 million dollars a year earlier, with diluted earnings per share of 0.15 dollars, or 0.37 dollars excluding restructuring and other charges. Rhyz revenue doubled to 65.1 million dollars. Full-year revenue was 1.97 billion dollars, down 12 percent.

Customers fell 15 percent to about 977,000 and sales leaders fell 10 percent to about 44,000. President and Chief Executive Ryan Napierski said macroeconomic pressure and business-transformation disruption weighed on results and that the company was reassessing capital allocation to fund Rhyz growth, a planned India expansion model and a digital-first affiliate platform.

The board cut the quarterly cash dividend to 0.06 dollars per share from prior levels, payable March 6, 2024. Nu Skin guided 2024 revenue to 1.73 billion to 1.87 billion dollars and reported EPS to 0.75 to 1.15 dollars, with first-quarter revenue guided to 400 million to 435 million dollars.