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Nu Skin Enterprises Reports Second Quarter Results

Nu Skin Enterprises Inc. (NYSE: NUS) today announced second quarter results in line with top-line guidance.

Executive Summary

Q2 2024 vs. Prior-year Quarter

 

Revenue

$439.1 million; (12.2)%

  • (4.2)% FX impact or $(21.0) million
  • Rhyz revenue $67.8 million; 32.3%

Earnings Per Share (EPS)

$(2.38) or $0.21 excluding restructuring and impairment charges, compared to $0.54

Customers

893,514; (14)%

Paid Affiliates

155,486; (17)% or (9)% excluding an adjustment to eligibility requirements

Sales Leaders

38,592; (16)%

We are pleased with our progress as we perform to plan on our transformational efforts, and we are on track as evidenced by our second quarter results,” said Ryan Napierski, Nu Skin president and CEO. “Our revenue was in-line with our expectations despite a 4 percent FX headwind, while adjusted earnings per share slightly exceeded our projections due to heightened operational discipline, excluding our restructuring and impairment charges. As our core Nu Skin business continues to navigate the macro-economic environment, we were encouraged by sequential gains in several of our markets including the U.S. and most of Southeast Asia/Pacific. Additionally, our Rhyz business grew 32 percent versus the prior-year quarter led by strong performances in our Mavely affiliate platform and manufacturing companies.

“We are intensifying our transformation efforts to become a leading integrated beauty, wellness and lifestyle ecosystem by building synergistic value between our Nu Skin core and Rhyz. In late July, we held our first Western market, in-person affiliate event in over five years with a similar event for Eastern markets coming in September. At the event, we were able to drive energy and alignment among our leaders as we previewed our MYND360 cognitive health division and promoted new activation efforts to grow our salesforce. We also announced plans for a Nu Skin/Mavely app, with Mavely’s more than 1,200 brands and 70,000 everyday influencers, for our Nu Skin affiliates, anticipated for second-half introduction in the U.S.

“We are enhancing our developing market strategy including a revised business model, targeted product offering and streamlined operating infrastructure beginning with Latin America and parts of Southeast Asia in the second half. In addition, we are intensifying our plans to enter India with a proprietary business model that will be a catalyst for expansion into other emerging markets. We are also exploring integrated brand building initiatives, including digital marketing and third-party marketplaces, as we strive to be wherever our customers seek to find us.”

Q2 2024 Year-over-year Operating Results

 

Revenue

$439.1 million compared to $500.3 million

  • (4.2)% FX impact or $(21.0) million
  • Rhyz revenue $67.8 million; +32.3%

 

Gross Margin

70.0% compared to 72.9%

  • Nu Skin business was 76.1% compared to 77.2% 

 

Selling Expenses

37.7% compared to 37.0%

  • Nu Skin business was 42.2% compared to 40.2% 

 

G&A Expenses

26.9% compared to 27.4%

Operating Margin

(28.6)% or 5.4% excluding restructuring and impairment charges compared to 8.5%

Interest Expense

$6.7 million compared to $5.8 million

Other Income/(Expense)

$0.6 million compared to $0.4 million

Income Tax Rate

10.2% or 41.4% excluding restructuring and impairment charges compared to 27.5%

EPS

$(2.38) or $0.21 excluding restructuring and impairment charges compared to $0.54

 

Stockholder Value

 

Dividend Payments

$3.0 million

Stock Repurchases

$0.0 million

  • $162.4 million remaining in authorization 

 

Q3 and Full-year 2024 Outlook

 

Q3 2024 Revenue

$430 to $465 million; (14)% to (7)%

  • Approximately (4) to (3)% FX impact 

 

Q3 2024 EPS

$0.08 to $0.18 or $0.15 to $0.25 non-GAAP

2024 Revenue

$1.73 to $1.81 billion; (12)% to (8)%

  • Approximately (4) to (3)% FX impact 

 

2024 EPS

$(2.01) to $(1.81) or $0.75 to $0.95 non-GAAP

“As we continue to refine our operating model during our transformation, we remain diligent in pursuing cost saving initiatives going forward, including additional product portfolio optimization along with expense management,” said James D. Thomas, chief financial officer. “We remain on track with our cost efficiency program as reflected by our reductions in G&A expense, helping to protect profitability despite revenue pressures. During the quarter, we generated $51.2 million in cash from operations, reduced inventory levels and paid down debt to strengthen our balance sheet. We also performed an impairment analysis and recorded a $141 million non-cash charge for impairment of goodwill and other intangibles as a result of the decline in stock price and current market conditions.

“Given that we have performed in-line with expectations for the first half of the year while also considering the increasing FX headwind, we believe it prudent to narrow our annual revenue guidance range. We are now projecting 2024 revenue in the $1.73 to $1.81 billion range, with earnings of $(2.01) to $(1.81) or $0.75 to $0.95 excluding restructuring and impairment charges. Our Q3 guidance assumes continued sequential improvement with projected revenue of $430 to $465 million and earnings per share of $0.08 to $0.18 or $0.15 to $0.25 excluding restructuring and impairment charges.”

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. 22, 2024.

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 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. Formed in 2018, Rhyz is a synergistic ecosystem of consumer, technology and manufacturing companies focused on innovation within the beauty, wellness and lifestyle categories.

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 and growth opportunities, strategies, sales force, shareholder value, product previews and launches, product portfolio optimization, transformation, evolution, operational and financial initiatives, digital tools and initiatives, new market expansion, and plans for developing and emerging markets; projections regarding revenue, expenses, margins, tax rates, earnings per share, foreign currency fluctuations, future dividends, uses of cash, financial position 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,” “become,” “”plan,” accelerate,” “project,” “continue,” “outlook,” “guidance,” “improve,” “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:

  • 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;
  • 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;
  • economic conditions and events globally;
  • competitive pressures in the company’s markets;
  • risk that epidemics, including COVID-19 and related disruptions, or 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;
  • 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; and
  • 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.

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, operating margin and income tax rate, each excluding restructuring and impairment charges, also are non-GAAP financial measures. 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 these charges facilitates period-to-period comparisons of the company’s performance. Please see the reconciliations of these items to our earnings per share, operating margin and income tax rate calculated under GAAP, below.

The following table sets forth revenue for the three-month periods ended June 30, 2024, and 2023 for each of our reportable segments (U.S. dollars in thousands):

Three Months Ended June 30,

 

 

Constant-Currency

 

2024

 

 

2023

 

Change

 

Change

Nu Skin

Americas

$

84,935

 

 

$

107,641

 

 

(21.1

)%

 

(15.1

)%

Mainland China

 

64,710

 

 

88,362

 

 

(26.8

)%

 

(24.5

)%

Southeast Asia/Pacific

 

60,341

 

 

 

63,764

 

 

(5.4

)%

 

(0.5

)%

Japan

 

42,587

 

 

 

50,862

 

 

(16.3

)%

 

(4.9

)%

South Korea

 

44,119

 

 

 

53,686

 

 

(17.8

)%

 

 

(14.3

)%

Europe & Africa

 

40,714

 

 

 

46,968

 

 

(13.3

)%

 

(12.3

)%

Hong Kong/Taiwan

 

33,846

 

 

 

37,108

 

 

(8.8

)%

 

(5.5

)%

Nu Skin other

 

(4

)

 

 

597

 

 

(100.7

)%

 

 

(100.8

)%

Total Nu Skin

371,248

 

448,988

(17.3

)%

(12.6

)%

Rhyz Investments

Manufacturing

51,473

 

45,551

13.0

%

13.0

%

Rhyz other

16,360

 

5,718

186.1

%

186.1

%

Total Rhyz Investments

67,833

 

51,269

32.3

%

32.3

%

Total

$

439,081

 

 

$

500,257

 

 

(12.2

)%

 

(8.0

)%

The following table sets forth revenue for the six-month periods ended June 30, 2024, and 2023 for each of our reportable segments (U.S. dollars in thousands):

Six Months Ended June 30,

 

 

Constant-Currency

 

2024

 

2023

 

Change

 

Change

Nu Skin

Americas

$

159,966

 

$

208,798

 

 

(23.4

)%

 

(17.5

)%

Mainland China

 

125,777

 

156,338

 

 

(19.5

)%

 

(16.5

)%

Southeast Asia/Pacific

 

120,406

 

 

131,574

 

 

(8.5

)%

 

(4.4

)%

Japan

 

86,823

 

 

103,468

 

 

(16.1

)%

 

(5.3

)%

South Korea

 

85,082

 

 

124,010

 

 

(31.4

)%

 

 

(28.5

)%

Europe & Africa

 

82,987

 

 

94,412

 

 

(12.1

)%

 

(12.1

)%

Hong Kong/Taiwan

 

64,312

 

 

71,656

 

 

(10.2

)%

 

(7.6

)%

Nu Skin other

 

668

 

 

482

 

 

38.6

%

 

 

38.6

%

Total Nu Skin

726,021

890,738

(18.5

)%

(14.1

)%

Rhyz Investments

Manufacturing

101,775

81,318

25.2

%

25.2

%

Rhyz other

28,591

9,663

195.9

%

195.9

%

Total Rhyz Investments

130,366

90,981

43.3

%

43.3

%

Total

$

856,387

 

$

981,719

 

 

(12.8

)%

 

(8.8

)%

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, 2024, and 2023:

Three Months Ended

June 30,

2024

 

2023

Change

Customers

 

 

 

 

 

 

 

Americas

 

226,626

263,138

(14)%

Mainland China

 

179,021

214,907

(17)%

Southeast Asia/Pacific

 

88,662

106,283

(17)%

Japan

 

109,357

112,484

 

(3)%

South Korea

 

99,358

112,019

(11)%

Europe & Africa

 

143,336

177,472

(19)%

Hong Kong/Taiwan

 

47,154

54,815

(14)%

Total Customers

893,514

1,041,118

(14)%

Paid Affiliates

 

 

 

 

 

 

 

Americas

 

29,531

36,048

(18)%

Mainland China

 

24,404

28,825

(15)%

Southeast Asia/Pacific(1)

 

29,701

32,769

(9)%

Japan(1)

 

21,575

36,765

(41)%

South Korea

 

22,116

23,012

(4)%

Europe & Africa

 

17,402

19,906

(13)%

Hong Kong/Taiwan

 

10,757

10,327

4%

Total Paid Affiliates

155,486

187,652

(17)%

Sales Leaders

 

 

 

 

 

 

 

Americas

 

6,070

7,872

(23)%

Mainland China

10,266

13,777

(25)%

Southeast Asia/Pacific

 

5,601

5,814

(4)%

Japan

 

6,116

5,853

4%

South Korea

 

4,689

5,784

(19)%

Europe & Africa

 

3,432

4,105

(16)%

Hong Kong/Taiwan

 

2,418

2,602

(7)%

Total Sales Leaders

38,592

45,807

(16)%

(1) The June 30, 2024, 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.

  • “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,

 

2024

 

 

2023

 

2024

 

 

2023

Revenue

$

439,081

 

 

$

500,257

 

$

856,387

 

 

$

981,719

Cost of sales

 

131,904

 

 

 

135,542

 

 

255,146

 

 

 

269,130

Gross profit

 

307,177

 

 

 

364,715

 

 

601,241

 

 

 

712,589

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

Selling expenses

 

165,463

 

 

 

185,165

 

 

319,005

 

 

 

373,289

General and administrative expenses

 

117,921

 

 

 

137,044

 

 

242,487

 

 

 

270,943

Restructuring and impairment expenses

149,350

 

156,484

 

9,787

Total operating expenses

 

432,734

 

 

 

322,209

 

 

717,976

 

 

 

654,019

 

 

 

 

 

 

 

 

 

 

 

 

Operating income (loss)

 

(125,557

)

 

 

42,506

 

 

(116,735

)

 

 

58,570

Interest expense

 

6,720

 

 

 

5,769

 

 

14,045

 

 

 

10,657

Other expense, net

 

629

 

 

 

376

 

 

233

 

 

 

3,788

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before provision for income taxes

 

(131,648

)

 

 

37,113

 

 

(130,547

)

 

 

51,701

Provision (benefit) for income taxes

 

(13,390

)

 

 

10,221

 

 

(11,756

)

 

 

13,433

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

$

(118,258

)

 

$

26,892

 

$

(118,791

)

 

$

38,268

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Basic

$

(2.38

)

 

$

0.54

 

$

(2.39

)

 

$

0.77

Diluted

$

(2.38

)

 

$

0.54

 

$

(2.39

)

 

$

0.76

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding (000s):

 

 

 

 

 

 

 

 

 

 

 

Basic

 

49,688

 

 

 

49,931

 

 

49,613

 

 

 

49,789

Diluted

 

49,688

 

 

 

50,161

 

 

49,613

 

 

 

50,098

NU SKIN ENTERPRISES, INC.

Consolidated Balance Sheets (Unaudited)

(U.S. dollars in thousands)

 

 

 

 

 

June 30,

2024

 

December 31,

2023

ASSETS

 

 

 

Current assets:

 

 

 

Cash and cash equivalents

$

224,250

 

 

$

256,057

 

Current investments

 

8,671

 

 

 

11,759

 

Accounts receivable, net

 

71,554

 

 

 

72,879

 

Inventories, net

 

243,994

 

 

 

279,978

 

Prepaid expenses and other

 

105,937

 

 

 

81,198

 

Total current assets

 

654,406

 

 

 

701,871

 

 

 

 

 

 

 

Property and equipment, net

 

411,918

 

 

 

432,965

 

Operating lease right-of-use assets

88,071

 

90,107

 

Goodwill

 

99,885

 

 

 

230,768

 

Other intangible assets, net

 

88,464

 

 

 

105,309

 

Other assets

 

243,228

 

 

 

245,443

 

Total assets

$

1,585,972

 

 

$

1,806,463

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

Current liabilities:

 

 

 

 

 

Accounts payable

$

36,305

 

 

$

43,505

 

Accrued expenses

 

242,288

 

 

 

260,366

 

Current portion of long-term debt

 

30,000

 

 

 

25,000

 

Total current liabilities

 

308,593

 

 

 

328,871

 

 

Operating lease liabilities

 

70,318

 

 

 

70,943

 

Long-term debt

 

428,327

 

 

 

478,040

 

Other liabilities

 

92,570

 

 

 

106,641

 

Total liabilities

 

899,808

 

 

 

984,495

 

 

 

 

 

 

 

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

 

621,440

 

 

 

621,853

 

Treasury stock, at cost – 40.9 million and 41.1 million shares

 

(1,564,090

)

 

 

(1,570,440

)

Accumulated other comprehensive loss

 

(116,995

)

 

 

(100,006

)

Retained earnings

 

1,745,718

 

 

 

1,870,470

 

Total stockholders' equity

 

686,164

 

 

 

821,968

 

Total liabilities and stockholders’ equity

$

1,585,972

 

 

$

1,806,463

 

NU SKIN ENTERPRISES, INC.

Reconciliation of Operating Margin Excluding Impact of Restructuring and Impairment to GAAP Operating Margin

(in thousands, except for per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

June 30,

 

Six months ended

June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Operating Income

 

$

(125,557

)

 

$

42,506

 

 

$

(116,735

)

 

$

58,570

 

Impact of restructuring and impairment:

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring and impairment

 

 

149,350

 

 

 

-

 

 

 

156,484

 

 

 

9,787

 

Adjusted operating income

 

$

23,793

 

 

$

42,506

 

 

$

39,749

 

 

$

68,357

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating margin

 

 

(28.6

)%

 

 

8.5

%

 

 

(13.6

)%

 

 

6.0

%

Operating margin, excluding restructuring impact

 

 

5.4

%

 

 

8.5

%

 

 

4.6

%

 

 

7.0

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

439,081

 

 

$

500,257

 

 

$

856,387

 

 

$

981,719

 

NU SKIN ENTERPRISES, INC.

Reconciliation of Effective Tax Rate Excluding Impact of Restructuring and Impairment to GAAP Effective Tax Rate

(in thousands, except for per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

June 30,

 

Six months ended

June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Provision (benefit) for income taxes

 

$

(13,390

)

 

$

10,221

 

 

$

(11,756

)

 

$

13,433

 

Impact of restructuring and impairment on provision for income taxes

 

 

20,715

 

 

 

-

 

 

 

23,071

 

 

 

2,593

 

Provision for income taxes, excluding impact of restructuring and impairment

 

$

7,325

 

 

$

10,221

 

 

$

11,315

 

 

$

16,026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before provision for income taxes

 

 

(131,648

)

 

 

37,113

 

 

 

(130,547

)

 

 

51,701

 

Impact of restructuring and impairment expense:

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring and impairment

 

 

149,350

 

 

 

-

 

 

 

156,484

 

 

 

9,787

 

Income before provision for income taxes, excluding impact of restructuring and impairment

 

$

17,702

 

 

$

37,113

 

 

$

25,937

 

 

$

61,488

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Effective tax rate

 

 

10.2

%

 

 

27.5

%

 

 

9.0

%

 

 

26.0

%

Effective tax rate, excluding restructuring and impairment impact

 

 

41.4

%

 

 

27.5

%

 

 

43.6

%

 

 

26.1

%

NU SKIN ENTERPRISES, INC.

Reconciliation of Earnings Per Share Excluding Impact of Restructuring and Impairment to GAAP Earnings Per Share

(in thousands, except for per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

June 30,

 

Six months ended

June 30,

 

 

2024

 

 

2023

 

2024

 

 

2023

 

Net income

 

$

(118,258

)

 

$

26,892

 

$

(118,791

)

 

$

38,268

 

Impact of restructuring and impairment expense:

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring and impairment

 

 

149,350

 

 

 

-

 

 

156,484

 

 

 

9,787

 

Tax impact

 

 

(20,715

)

 

 

-

 

 

(23,071

)

 

 

(2,593

)

Adjusted net income

 

$

10,377

 

 

$

26,892

 

$

14,622

 

 

$

45,462

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$

(2.38

)

 

$

0.54

 

$

(2.39

)

 

$

0.76

 

Diluted earnings per share, excluding restructuring impact

 

$

0.21

 

 

$

0.54

 

$

0.29

 

 

$

0.91

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding (000)

 

 

49,688

 

 

 

50,161

 

 

49,613

 

 

 

50,098

 

NU SKIN ENTERPRISES, INC.

Reconciliation of Earnings Per Share Excluding Impact of Restructuring and Impairment to GAAP Earnings Per Share

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

September 30, 2024

 

Year ended December 31, 2024

 

 

Low end

 

High end

 

Low end

 

High end

Earnings Per Share

 

$

0.08

 

 

$

0.18

 

 

$

(2.01

)

 

$

(1.81

)

Impact of restructuring and impairment expense:

 

 

 

 

 

 

 

 

 

 

 

 

Restructuring and impairment

 

 

0.10

 

 

 

0.10

 

 

 

3.25

 

 

 

3.25

 

Tax impact

 

 

(0.03

)

 

 

(0.03

)

 

 

(0.50

)

 

 

(0.50

)

Adjusted EPS

 

$

0.15

 

 

$

0.25

 

 

$

0.75

 

 

$

0.95

 

 

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