Nu Skin Enterprises, Inc. announced its second quarter financial results for 2023, including revenue of $500.3 million, a $16.4 million decrease from the same period in 2022. Earnings per share (EPS)in the quarter were $0.54, compared to $0.67 in the second quarter of last year.
Customer and paid affiliate numbers declined by 25% and 23% year over year, respectively, to 1,041,118 and 187,652.
The company offered a third quarter outlook of $500-$540 million in revenue with an EPS of $0.54-$0.69, and full year revenue of $2-$2.08 billion with an EPS of $2.15-$2.45.
“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.”
