Nu Skin Enterprises
November 7, 2024
PROVO, Utah, November 7, 2024 --
Nu Skin Enterprises reported third-quarter 2024 revenue of 430.1 million dollars, down 13.8 percent from 498.8 million dollars a year earlier, including a 3.4 percent foreign-exchange headwind. Diluted earnings per share were 0.17 dollars, compared with a loss of 0.74 dollars a year earlier. Customers fell 15 percent and sales leaders fell 19 percent, while the Rhyz segment grew 20.9 percent to 73.1 million dollars.
President and Chief Executive Ryan Napierski said the company is revising its core business model to improve channel activation starting in North America and South Korea, adjusting pricing in developing markets and accelerating product-portfolio optimization. Chief Financial Officer James Thomas said a cost-efficiency program saved another 15 million dollars in the quarter and remains on track for 45 million to 65 million dollars of 2024 savings.
Nu Skin cut full-year 2024 revenue guidance to 1.70 billion to 1.73 billion dollars and GAAP EPS to a loss of 2.32 to 2.22 dollars, or 0.65 to 0.75 dollars excluding restructuring and impairment. Fourth-quarter revenue was guided to 410 million to 445 million dollars.