UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 
August 1, 2023
  
 
Date of Report (Date of earliest event reported)
 
  
 
NU SKIN ENTERPRISES, INC.
  
 
(Exact name of registrant as specified in its charter)
 
  

Delaware
  
001-12421
  
87-0565309
(State or other jurisdiction of incorporation)
  
(Commission File Number)
 
  
(IRS Employer Identification Number)

 
75 West Center Street
Provo, Utah 84601
  
 
(Address of principal executive offices and zip code)
 
  
 
(801) 345-1000
  
 
(Registrant’s telephone number, including area code)
 
  
 
N/A
  
 
(Former name or former address, if changed since last report)
 
  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Class A Common Stock, $.001 par value
NUS
 New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02
Results of Operations and Financial Condition.

On August 1, 2023, Nu Skin Enterprises, Inc. (the “Company”) issued a press release announcing its financial results for the three- and six-month periods ended June 30, 2023, and certain other information. A copy of the press release is attached as Exhibit 99.1 to this report.

The information furnished pursuant to this Item 2.02 and Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as shall be expressly set forth by specific reference in such filing.

Item 9.01
Financial Statements and Exhibits.

(d) Exhibits.

99.1
Nu Skin Enterprises’ press release dated August 1, 2023, regarding financial results for the three- and six-month periods ended June 30, 2023.

104
Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
NU SKIN ENTERPRISES, INC.
 
(Registrant)
   
 
/s/ James D. Thomas
  
 
James D. Thomas
 
Chief Financial Officer
   
Date:  August 1, 2023
  

 
Exhibit 99.1



FOR IMMEDIATE RELEASE

Nu Skin Enterprises Reports Second Quarter 2023 Financial Results

PROVO, Utah — Aug. 1, 2023 — 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.

 Nu Skin Enterprises Reports Second Quarter 2023 Financial Results
 page 2
“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

 Nu Skin Enterprises Reports Second Quarter 2023 Financial Results
 page 3
“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.

 Nu Skin Enterprises Reports Second Quarter 2023 Financial Results
 page 4
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.

 Nu Skin Enterprises Reports Second Quarter 2023 Financial Results
 page 5
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
)%

 Nu Skin Enterprises Reports Second Quarter 2023 Financial Results
 page 6
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 Reports Second Quarter 2023 Financial Results
 page 7
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 Reports Second Quarter 2023 Financial Results
 page 8
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 Reports Second Quarter 2023 Financial Results
 page 9

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
  

# # #
CONTACTS:
Media: media@nuskin.com, (801) 345-6397
Investors: investorrelations@nuskin.com, (801) 345-3577

v3.23.2
Document and Entity Information
Aug. 01, 2023
Cover [Abstract]  
Document Type 8-K
Amendment Flag false
Document Period End Date Aug. 01, 2023
Entity File Number 001-12421
Entity Registrant Name NU SKIN ENTERPRISES, INC.
Entity Central Index Key 0001021561
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 87-0565309
Entity Address, Address Line One 75 West Center Street
Entity Address, City or Town Provo
Entity Address, State or Province UT
Entity Address, Postal Zip Code 84601
City Area Code 801
Local Phone Number 345-1000
Title of 12(b) Security Class A Common Stock, $.001 par value
Trading Symbol NUS
Security Exchange Name NYSE
Entity Emerging Growth Company false
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
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