PROVO,
Utah, Aug. 1, 2023 /PRNewswire/ -- Nu Skin
Enterprises, Inc. (NYSE: NUS) today announced second quarter 2023
results in line with expectations.
Executive Summary
Q2 2023 vs. Prior-year
Quarter
Revenue:
|
$500.3 million;
(11)%
• (3)% FX impact
or $(16.4) million
|
Earnings Per Share
(EPS):
|
$0.54 compared to $0.67
or $0.77 excluding charges associated with our exit from Grow
Tech
|
Customers:
|
1,041,118;
(25)%
|
Paid
Affiliates:
|
187,652;
(23)%
• An adjustment
to eligibility requirements accounted for approximately (13)% of
the decline
|
Sales
Leaders:
|
45,807; (9)%
|
"Our second quarter results improved sequentially and landed
within our guidance range, driven in large part by year-over-year
gains in Mainland China and our Rhyz segments," said Ryan Napierski, Nu Skin president and CEO. "We
are seeing early signs of momentum building in Mainland China;
however, we continue to be negatively impacted in several key
markets by macro-economic factors and associated price increases
that have had a dampening effect on consumer spending and customer
acquisition.
"Despite the lingering macro challenges, we continue to make
steady progress toward our Nu Vision 2025 strategy. In Q3 we will
be rolling out ageLOC® TRMe®, our personalized weight management
system, in China. Most other
markets will begin introducing ageLOC WellSpa iO™, a smart device
system focused on holistic wellness and beauty, with consumer
launches in Q4 to help us drive year-over-year growth in the
quarter. To complement these introductions, we will be introducing
a new channel growth incentive in the second half to attract new
affiliates and develop sales leaders. In addition, our Vera® and
Stela apps continue to gain healthy traction as downloads and
monthly active users exceed expectations.
"We continue to be pleased with the performance of Rhyz
improving 33% year over year. As part of building our long-term
enterprise strategy, we announced today the Rhyz acquisition of
BeautyBio, an omnichannel, clean and clinically proven skincare and
beauty device brand. BeautyBio's unique device IP in hydration
facial and micro-needling technology will further strengthen Nu
Skin's position as the world's best-selling beauty device systems
brand.* Our expertise in devices, manufacturing and technology will
help BeautyBio reach its potential as we explore synergies within
the Rhyz ecosystem."
Q2 2023 Year-over-year Operating
Results
Revenue:
|
$500.3 million compared
to $560.6 million
• (3)% FX
impact or $(16.4) million
|
Gross
Margin:
|
72.9% compared to
73.6%
• Nu Skin
business was 77.2% compared
to 77.0%
• Impacted by
revenue growth in Rhyz Manufacturing
|
Selling
Expenses:
|
37.0% compared to
39.1%
• Nu Skin
business was 40.2% compared to 42.0%
|
G&A
Expenses:
|
27.4% compared to
25.3%
|
Operating
Margin:
|
8.5% compared to
9.2%
|
Other Income /
(Expense):
|
$(5.4) million compared
to $(8.6) million
|
Income Tax
Rate:
|
27.5% compared to
20.2%
|
EPS:
|
$0.54 compared to $0.67
or $0.77 excluding charges associated with our exit from Grow
Tech
|
Stockholder Value
Dividend
Payments:
|
$19.5
million
|
Stock
Repurchases:
|
$0.0 million
• $175.4 million
remaining in authorization
|
Q3 and Full-year 2023 Outlook
Q3 2023
Revenue:
|
$500 to $540 million;
(7)% to 0.5%
• Approximately
(2) to (1)% FX impact
|
Q3 2023
EPS:
|
$0.54 to
$0.69
|
2023
Revenue:
|
$2.00 to $2.08 billion;
(10)% to (6)%
• Approximately
(3) to (2)% FX impact
|
2023
EPS:
|
$2.15 to $2.45 or $2.30
to $2.60 non-GAAP
|
"Taking into account first half results, a
stronger-than-expected U.S. dollar and recent acquisitions, we are
adjusting our 2023 guidance, which continues to show sequential
improvements in the back half of the year with a return to
year-over-year growth in the fourth quarter," said James D. Thomas, chief financial officer. "We
now anticipate our annual revenue to be $2.00 to $2.08
billion, with an approximate 2 to 3 percent foreign currency
headwind. We are also adjusting reported EPS of $2.15 to $2.45, or
$2.30 to $2.60 excluding first quarter restructuring
charges. For the third quarter, we project revenue of $500 to $540
million, assuming a negative foreign currency impact of
approximately 1 to 2 percent, with reported earnings per share of
$0.54 to $0.69. In summary, while the persistence of macro
headwinds has made the journey more challenging than expected, we
continue to invest in key growth initiatives that support our
long-term enterprise strategy and remain confident in our direction
and future."
Conference Call
The Nu Skin Enterprises management team will host a conference
call with the investment community today at 5 p.m. (ET). Those
wishing to access the webcast, as well as the financial information
presented during the call, can visit the Investor Relations page on
the company's website at ir.nuskin.com. A replay of the
webcast will be available on the same page through Aug. 15,
2023.
About Nu Skin Enterprises Inc.
The Nu Skin Enterprises Inc. (NYSE: NUS) family of companies
includes Nu Skin and Rhyz Inc. Nu Skin is an integrated beauty
and wellness company, powered by a dynamic affiliate opportunity
platform, which operates in nearly 50 markets worldwide. Backed by
nearly 40 years of scientific research, the company's products help
people look, feel and live their best with brands including Nu
Skin® personal care, Pharmanex® nutrition and ageLOC® anti-aging,
which includes an award-winning line of beauty device systems. Rhyz
is the strategic investment arm of Nu Skin Enterprises. Formed in
2018, Rhyz is a synergistic ecosystem of consumer, technology and
manufacturing companies focused on innovation within the beauty,
wellness and lifestyle categories.
*Source Euromonitor International Limited; Retail Value RSP
terms; all channels; 2017 to 2022. Beauty Systems are at-home Skin
Care Beauty Devices that are exclusively paired or recommended to
be used with a topical consumable of the same brand. Claim
verification based on Euromonitor custom research and methodology
conducted April - June of 2023. Sales of at-home skin care beauty
devices includes sales of electric facial cleansers as defined in
Passport database. This category does not include hair care/removal
appliances, body shavers, and oral care appliances.
Important Information Regarding Forward-Looking
Statements: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that represent the
company's current expectations and beliefs. All statements other
than statements of historical fact are "forward-looking statements"
for purposes of federal and state securities laws and include, but
are not limited to, statements of management's expectations
regarding the macro-environment and the company's performance,
growth, shareholder value, strategies, transformation, initiatives,
product pipeline and product introductions/launches, digital and
social-commerce tools and initiatives, benefits of the BeautyBio
acquisition, customers, sales leaders, and affiliates; projections
regarding revenue, expenses, operating income, earnings per share,
foreign currency fluctuations, uses of cash and other financial
items; statements of belief; and statements of assumptions
underlying any of the foregoing. In some cases, you can identify
these statements by forward-looking words such as "believe,"
"expect," "anticipate," "project," "continue," "outlook,"
"guidance," "remain," "will," "would," "could," "may," "might," the
negative of these words and other similar words.
The forward-looking statements and related assumptions
involve risks and uncertainties that could cause actual results and
outcomes to differ materially from any forward-looking statements
or views expressed herein. These risks and uncertainties include,
but are not limited to, the following:
- risk that epidemics, including COVID-19 and related
disruptions, and other crises could negatively impact our
business;
- adverse publicity related to the company's business,
products, industry or any legal actions or complaints by the
company's sales force or others;
- risk that direct selling laws and regulations in any of the
company's markets, including the United
States and Mainland China, may be modified, interpreted or
enforced in a manner that results in negative changes to the
company's business model or negatively impacts its revenue, sales
force or business, including through the interruption of sales
activities, loss of licenses, increased scrutiny of sales force
actions, imposition of fines, or any other adverse actions or
events;
- any failure of current or planned initiatives or products to
generate interest among the company's sales force and customers and
generate sponsoring and selling activities on a sustained
basis;
- political, legal, tax and regulatory uncertainties,
including trade policies, associated with operating in Mainland
China and other international markets;
- uncertainty regarding meeting restrictions and other
government scrutiny in Mainland China, as well as negative media
and consumer sentiment in Mainland China on our business operations
and results;
- risk of foreign-currency fluctuations and the currency
translation impact on the company's business associated with these
fluctuations;
- uncertainties regarding the future financial performance of
the businesses the company has acquired;
- risks related to accurately predicting, delivering or
maintaining sufficient quantities of products to support planned
initiatives or launch strategies, and increased risk of inventory
write-offs if the company over-forecasts demand for a product or
changes its planned initiatives or launch strategies;
- regulatory risks associated with the company's products,
which could require the company to modify its claims or inhibit its
ability to import or continue selling a product in a market if the
product is determined to be a medical device or if the company is
unable to register the product in a timely manner under applicable
regulatory requirements;
- unpredictable economic conditions and events
globally;
- the company's future tax-planning initiatives; any
prospective or retrospective increases in duties or tariffs on the
company's products imported into the company's markets outside of
the United States; and any adverse
results of tax audits or unfavorable changes to tax laws in the
company's various markets; and
- continued competitive pressures in the company's
markets.
The company's financial performance and the forward-looking
statements contained herein are further qualified by a detailed
discussion of associated risks set forth in the documents filed by
the company with the Securities and Exchange Commission. The
forward-looking statements set forth the company's beliefs as of
the date that such information was first provided, and the company
assumes no duty to update the forward-looking statements contained
in this release to reflect any change except as required by
law.
Non-GAAP Financial Measures: Constant-currency
revenue change is a non-GAAP financial measure that removes the
impact of fluctuations in foreign-currency exchange rates, thereby
facilitating period-to-period comparisons of the company's
performance. It is calculated by translating the current period's
revenue at the same average exchange rates in effect during the
applicable prior-year period and then comparing that amount to the
prior-year period's revenue. The company believes that
constant-currency revenue change is useful to investors, lenders
and analysts because such information enables them to gauge the
impact of foreign-currency fluctuations on the company's revenue
from period to period.
Earnings per share, excluding charges associated with our
exit from Grow Tech or restructuring and impairment charges, is
also a non-GAAP financial measure. Charges associated with our exit
from Grow Tech and restructuring and impairment charges are not
part of the ongoing operations of our underlying business. The
company believes that these non-GAAP financial measures are useful
to investors, lenders and analysts because removing the impact of
charges associated with our exit from Grow Tech and restructuring
and impairment charges facilitates period-to-period comparisons of
the company's performance. Please see the reconciliations of these
items to our earnings per share and operating margin calculated
under GAAP, below.
The following table sets forth revenue for the three-month
periods ended June 30, 2023 and 2022
for each of our reportable segments (U.S. dollars in
thousands):
|
Three Months
Ended
June
30,
|
|
|
|
Constant- Currency
|
|
2023
|
|
2022
|
|
Change
|
|
Change
|
Nu
Skin
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
$
|
107,641
|
|
$
|
124,445
|
|
|
(14) %
|
|
|
(10) %
|
Mainland
China
|
|
88,362
|
|
|
86,808
|
|
|
2 %
|
|
|
8 %
|
Southeast
Asia/Pacific
|
|
63,764
|
|
|
94,067
|
|
|
(32) %
|
|
|
(30) %
|
South Korea
|
|
53,686
|
|
|
69,308
|
|
|
(23) %
|
|
|
(19) %
|
Japan
|
|
50,862
|
|
|
55,952
|
|
|
(9) %
|
|
|
(4) %
|
Europe &
Africa
|
|
46,968
|
|
|
50,871
|
|
|
(8) %
|
|
|
(9) %
|
Hong
Kong/Taiwan
|
|
37,108
|
|
|
39,327
|
|
|
(6) %
|
|
|
(3) %
|
Nu Skin
other
|
|
597
|
|
|
1,318
|
|
|
(55) %
|
|
|
(55) %
|
Total Nu
Skin
|
|
448,988
|
|
|
522,096
|
|
|
(14) %
|
|
|
(11) %
|
Rhyz
Investments
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing
|
|
45,551
|
|
|
38,229
|
|
|
19 %
|
|
|
19 %
|
Rhyz other
|
|
5,718
|
|
|
290
|
|
|
1872 %
|
|
|
1872 %
|
Total Rhyz
Investments
|
|
51,269
|
|
|
38,519
|
|
|
33 %
|
|
|
33 %
|
Total
|
$
|
500,257
|
|
$
|
560,615
|
|
|
(11) %
|
|
|
(8) %
|
The following table sets forth revenue for the six-month periods
ended June 30, 2023 and 2022 for each
of our reportable segments (U.S. dollars in thousands):
|
Six Months
Ended
June
30,
|
|
|
|
Constant- Currency
|
|
2023
|
|
2022
|
|
Change
|
|
Change
|
Nu
Skin
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
$
|
208,798
|
|
$
|
248,025
|
|
|
(16) %
|
|
|
(12) %
|
Mainland
China
|
|
156,338
|
|
|
211,303
|
|
|
(26) %
|
|
|
(21) %
|
Southeast
Asia/Pacific
|
|
131,574
|
|
|
184,303
|
|
|
(29) %
|
|
|
(26) %
|
South Korea
|
|
124,010
|
|
|
141,441
|
|
|
(12) %
|
|
|
(8) %
|
Japan
|
|
103,468
|
|
|
117,743
|
|
|
(12) %
|
|
|
(3) %
|
Europe &
Africa
|
|
94,412
|
|
|
103,839
|
|
|
(9) %
|
|
|
(8) %
|
Hong
Kong/Taiwan
|
|
71,656
|
|
|
77,821
|
|
|
(8) %
|
|
|
(4) %
|
Nu Skin
other
|
|
482
|
|
|
1,938
|
|
|
(75) %
|
|
|
(75) %
|
Total Nu
Skin
|
|
890,738
|
|
|
1,086,413
|
|
|
(18) %
|
|
|
(14) %
|
Rhyz
Investments
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing
|
|
81,318
|
|
|
78,570
|
|
|
3 %
|
|
|
3 %
|
Rhyz other
|
|
9,663
|
|
|
531
|
|
|
1720 %
|
|
|
1720 %
|
Total Rhyz
Investments
|
|
90,981
|
|
|
79,101
|
|
|
15 %
|
|
|
15 %
|
Total
|
$
|
981,719
|
|
$
|
1,165,514
|
|
|
(16) %
|
|
|
(12) %
|
The following table provides information concerning the number
of Customers, Paid Affiliates and Sales Leaders in our core Nu
Skin business for the three-month periods ended June 30, 2023 and 2022:
|
Three Months
Ended
June
30,
|
|
|
|
2023
|
|
2022
|
|
Change
|
Customers
|
|
|
|
|
|
|
|
Americas
|
|
263,138
|
|
|
302,849
|
|
(13) %
|
Mainland
China
|
|
214,907
|
|
|
392,268
|
|
(45) %
|
Southeast
Asia/Pacific
|
|
106,283
|
|
|
152,775
|
|
(30) %
|
South Korea
|
|
112,019
|
|
|
135,290
|
|
(17) %
|
Japan
|
|
112,484
|
|
|
122,643
|
|
(8) %
|
Europe &
Africa
|
|
177,472
|
|
|
205,379
|
|
(14) %
|
Hong
Kong/Taiwan
|
|
54,815
|
|
|
69,411
|
|
(21) %
|
Total
Customers
|
|
1,041,118
|
|
|
1,380,615
|
|
(25) %
|
|
|
|
Paid
Affiliates
|
|
|
|
|
|
|
|
Americas
|
|
36,048
|
|
|
44,523
|
|
(19) %
|
Mainland
China
|
|
28,825
|
|
|
19,257
|
|
50 %
|
Southeast
Asia/Pacific
|
|
32,769
|
|
|
41,512
|
|
(21) %
|
South
Korea(1)
|
|
23,012
|
|
|
48,605
|
|
(53) %
|
Japan
|
|
36,765
|
|
|
38,269
|
|
(4) %
|
Europe &
Africa(1)
|
|
19,906
|
|
|
32,323
|
|
(38) %
|
Hong
Kong/Taiwan(1)
|
|
10,327
|
|
|
17,644
|
|
(41) %
|
Total Paid
Affiliates
|
|
187,652
|
|
|
242,133
|
|
(23) %
|
|
|
|
Sales
Leaders
|
|
|
|
|
|
|
|
Americas
|
|
7,872
|
|
|
9,320
|
|
(16) %
|
Mainland
China(2)
|
|
13,777
|
|
|
11,458
|
|
20 %
|
Southeast
Asia/Pacific
|
|
5,814
|
|
|
8,407
|
|
(31) %
|
South Korea
|
|
5,784
|
|
|
6,557
|
|
(12) %
|
Japan
|
|
5,853
|
|
|
6,097
|
|
(4) %
|
Europe &
Africa
|
|
4,105
|
|
|
5,192
|
|
(21) %
|
Hong
Kong/Taiwan
|
|
2,602
|
|
|
3,054
|
|
(15) %
|
Total Sales
Leaders
|
|
45,807
|
|
|
50,085
|
|
(9) %
|
|
(1) The June 30,
2023 number is affected by a change in eligibility requirements for
receiving certain rewards within our compensation structure. We
plan to implement these changes in additional segments over the
next several quarters.
|
(2) The June 30,
2023 number reflects a modified Sales Leader definition, as
described in our quarterly report on Form 10-Q.
|
- "Customers" are persons who have purchased directly from the
Company during the three months ended as of the date indicated. Our
Customer numbers include members of our sales force who made such a
purchase, including Paid Affiliates and those who qualify as Sales
Leaders, but they do not include consumers who purchase directly
from members of our sales force.
- "Paid Affiliates" are any Brand Affiliates, as well as members
of our sales force in Mainland China, who earned sales compensation
during the three-month period. In all of our markets besides
Mainland China, we refer to members of our independent sales force
as "Brand Affiliates" because their primary role is to promote our
brand and products through their personal social networks.
- "Sales Leaders" are the three-month average of our monthly
Brand Affiliates, as well as sales employees and independent
marketers in Mainland China, who achieved certain qualification
requirements as of the end of each month of the quarter.
NU SKIN ENTERPRISES,
INC.
Consolidated
Statements of Income (Unaudited)
(U.S. dollars in
thousands, except per share amounts)
|
|
|
|
|
|
Three Months
Ended
June
30,
|
|
Six Months
Ended
June
30,
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Revenue
|
$
|
500,257
|
|
$
|
560,615
|
|
$
|
981,719
|
|
$
|
1,165,514
|
Cost of
sales
|
|
135,542
|
|
|
148,100
|
|
|
269,130
|
|
|
309,599
|
Gross profit
|
|
364,715
|
|
|
412,515
|
|
|
712,589
|
|
|
855,915
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
|
185,165
|
|
|
219,426
|
|
|
373,289
|
|
|
462,125
|
General and
administrative expenses
|
|
137,044
|
|
|
141,562
|
|
|
270,943
|
|
|
290,118
|
Restructuring and
impairment expenses
|
|
—
|
|
|
—
|
|
|
9,787
|
|
|
—
|
Total operating
expenses
|
|
322,209
|
|
|
360,988
|
|
|
654,019
|
|
|
752,243
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
42,506
|
|
|
51,527
|
|
|
58,570
|
|
|
103,672
|
Other expense,
net
|
|
(5,393)
|
|
|
(8,640)
|
|
|
(6,869)
|
|
|
(10,093)
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before provision
for income taxes
|
|
37,113
|
|
|
42,887
|
|
|
51,701
|
|
|
93,579
|
Provision for income
taxes
|
|
10,221
|
|
|
8,650
|
|
|
13,433
|
|
|
20,626
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
26,892
|
|
$
|
34,237
|
|
$
|
38,268
|
|
$
|
72,953
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per
share:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
|
0.54
|
|
$
|
0.68
|
|
$
|
0.77
|
|
$
|
1.45
|
Diluted
|
$
|
0.54
|
|
$
|
0.67
|
|
$
|
0.76
|
|
$
|
1.43
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common
shares outstanding (000s):
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
49,931
|
|
|
50,368
|
|
|
49,789
|
|
|
50,181
|
Diluted
|
|
50,161
|
|
|
50,960
|
|
|
50,098
|
|
|
50,959
|
NU SKIN ENTERPRISES,
INC.
Consolidated Balance
Sheets (Unaudited)
(U.S. dollars in
thousands)
|
|
|
|
|
|
June
30,
2023
|
|
December
31,
2022
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
235,554
|
|
$
|
264,725
|
Current
investments
|
|
16,772
|
|
|
13,784
|
Accounts
receivable, net
|
|
67,166
|
|
|
47,360
|
Inventories,
net
|
|
372,250
|
|
|
346,183
|
Prepaid expenses and
other
|
|
100,833
|
|
|
87,816
|
Total current
assets
|
|
792,575
|
|
|
759,868
|
|
|
|
|
|
|
Property and equipment,
net
|
|
430,328
|
|
|
444,806
|
Operating lease
right-of-use assets
|
|
94,707
|
|
|
98,734
|
Goodwill
|
|
229,469
|
|
|
206,432
|
Other intangible
assets, net
|
|
112,619
|
|
|
66,701
|
Other assets
|
|
234,078
|
|
|
244,429
|
Total
assets
|
$
|
1,893,776
|
|
$
|
1,820,970
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
$
|
49,529
|
|
$
|
53,963
|
Accrued
expenses
|
|
255,510
|
|
|
280,280
|
Current portion of
long-term debt
|
|
140,000
|
|
|
25,000
|
Total current
liabilities
|
|
445,039
|
|
|
359,243
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
74,487
|
|
|
76,540
|
Long-term
debt
|
|
367,753
|
|
|
377,466
|
Other
liabilities
|
|
111,152
|
|
|
110,425
|
Total
liabilities
|
|
998,431
|
|
|
923,674
|
|
|
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
equity:
|
|
|
|
|
|
Class A common stock
– 500 million shares authorized, $0.001 par
value, 90.6 million shares issued
|
|
91
|
|
|
91
|
Additional paid-in
capital
|
|
615,579
|
|
|
613,278
|
Treasury stock, at
cost – 40.6 million and 41.1 million shares
|
|
(1,557,777)
|
|
|
(1,569,061)
|
Accumulated other
comprehensive loss
|
|
(101,446)
|
|
|
(86,509)
|
Retained
earnings
|
|
1,938,898
|
|
|
1,939,497
|
Total stockholders'
equity
|
|
895,345
|
|
|
897,296
|
Total liabilities and
stockholders' equity
|
$
|
1,893,776
|
|
$
|
$1,820,970
|
NU SKIN ENTERPRISES,
INC.
Reconciliation of Earnings Per Share Excluding Impact of
Restructuring to GAAP Earnings Per Share (in thousands,
except for per share amounts)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
June 30,
|
|
Six Months
Ended
June 30,
|
|
|
2023
|
|
2022
|
|
2023
|
|
2022
|
Net income
|
|
$
|
26,892
|
|
$
|
34,237
|
|
$
|
38,268
|
|
$
|
72,953
|
Impact of restructuring
and impairment expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
Restructuring and
impairment
|
|
|
-
|
|
|
-
|
|
|
9,787
|
|
|
-
|
Tax impact
|
|
|
-
|
|
|
-
|
|
|
(2,593)
|
|
|
-
|
Impact of charges
associated with our Q4 exit from Grow Tech:
|
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized loss on
investment
|
|
|
-
|
|
|
5,711
|
|
|
|
|
|
5,711
|
Tax impact
|
|
|
-
|
|
|
(459)
|
|
|
|
|
|
(459)
|
Adjusted net
income
|
|
$
|
26,892
|
|
$
|
39,489
|
|
$
|
45,462
|
|
$
|
78,205
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted earnings per
share
|
|
$
|
0.54
|
|
$
|
0.67
|
|
$
|
0.76
|
|
$
|
1.43
|
Diluted earnings per
share, excluding restructuring impact
|
|
$
|
0.54
|
|
$
|
0.77
|
|
$
|
0.91
|
|
$
|
1.53
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common
shares outstanding (000)
|
|
|
50,161
|
|
|
50,960
|
|
|
50,098
|
|
|
50,959
|
NU SKIN ENTERPRISES,
INC.
Reconciliation of Earnings Per Share Excluding Impact of
Restructuring to GAAP Earnings Per Share
|
|
|
|
|
|
|
|
|
|
|
Year ended December
31,
|
|
|
|
2023 -
Low-end
|
|
2023
High-end
|
|
Earnings Per
Share
|
|
$
|
2.15
|
|
$
|
2.45
|
|
Impact of Q1
restructuring and impairment expense:
|
|
|
|
|
|
|
|
Restructuring and
impairment
|
|
|
0.20
|
|
|
0.20
|
|
Tax impact
|
|
|
(0.05)
|
|
|
(0.05)
|
|
Adjusted EPS
|
|
$
|
2.30
|
|
$
|
2.60
|
|
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SOURCE Nu Skin Enterprises