Nu Skin Second Quarter Revenue Falls 20 Percent; Plans Second-Half Restructuring

Nu Skin Enterprises said second-quarter 2022 revenue was 560.6 million dollars, down 20 percent from a year earlier, including about a 5 percent foreign-currency headwind. Diluted earnings per share were 67 cents, or 77 cents excluding Grow Tech exit charges, versus 1.15 dollars a year earlier. Customers fell 6 percent, paid affiliates 16 percent, and sales leaders 24 percent.

President and chief executive Ryan Napierski cited extended China COVID factors, EMEA distraction from the Ukraine conflict, weaker emerging-market conditions, and a strong dollar. The company cut 2022 revenue guidance to 2.33 billion to 2.41 billion dollars and said second-half restructuring and impairment charges of 35 million to 45 million dollars would support about 100 million dollars of 2023 cost savings under Nu Vision 2025. Third-quarter revenue was projected at 550 million to 590 million dollars.