Nu Skin Enterprises
August 1, 2023
PROVO, Utah, Aug. 1, 2023 --
Nu Skin Enterprises reported second-quarter 2023 revenue of 500.3 million dollars, down 11 percent from 560.6 million dollars a year earlier, including about 16.4 million dollars of foreign-currency impact. Diluted EPS was 0.54 dollars compared with 0.67 dollars, or 0.77 dollars excluding prior-year Grow Tech exit charges. Customers fell 25 percent to about 1.04 million and sales leaders fell 9 percent.
President and chief executive Ryan Napierski cited sequential improvement and year-over-year gains in mainland China and the Rhyz segment alongside continued macro pressure on consumer spending and customer acquisition in several markets. Rhyz revenue rose 33 percent. Gross margin was 72.9 percent and operating margin 8.5 percent.
Nu Skin cut full-year 2023 revenue guidance to 2.00 billion to 2.08 billion dollars and reported EPS to 2.15 to 2.45 dollars, or 2.30 to 2.60 dollars excluding first-quarter restructuring charges. Third-quarter guidance is revenue of 500 million to 540 million dollars and EPS of 0.54 to 0.69 dollars.