Nu Skin Enterprises
November 5, 2020
Nu Skin Enterprises reported third-quarter revenue of 703.3 million dollars, up 19 percent from a year earlier, for the three months ended September 30, 2020.
Chief executive Ritch Wood said revenue and earnings per share were well above expectations. He said the company produced double-digit growth in both customers and sales leaders, with revenue higher in every reporting segment but one. Growth was strongest in the Americas, Pacific, and EMEA regions, with modest gains across most of Asia. He said mainland China was stabilizing, with sequential improvement in revenue, customers, and sales leaders, and that the company still expected a return to year-over-year growth in China in the fourth quarter. The manufacturing division grew 34 percent.
Segment revenue, in thousands of dollars, was 169,068 in mainland China, down 3 percent from 173,974; 151,465 in the Americas and Pacific, up 81 percent from 83,635; 83,460 in South Korea, up 5 percent from 79,435; 84,102 in Southeast Asia, up 7 percent from 78,963; 70,958 in Japan, up 6 percent from 67,197; 61,411 in EMEA, up 72 percent from 35,742; and 42,265 in Hong Kong and Taiwan, up 4 percent from 40,449.
Wood said product demand and digital tools for sales leaders and affiliates were running ahead of the company's 2020 growth projections. He said about 90 percent of Nu Skin revenue was coming from digital transactions as more people worked from home and shopped online.