Published on 9 May 2024 on Zacks via Yahoo Finance
Nu Skin (NUS) Q1 Earnings Beat, Revenues Hurt by Currency Woes
Nu Skin Enterprises, Inc. NUS posted first-quarter 2024 results, wherein both the top and bottom lines declined year over year, and revenues missed the Zacks Consensus Estimate. Foreign currency headwinds had a greater-than-anticipated impact on revenues. However, the company’s diligent cost management efforts aided its bottom-line performance.Nu Skin is actively pursuing business transformation initiatives and advancing its integrated beauty, wellness and lifestyle ecosystem. While macroeconomic challenges hurt the affiliate and customer growth globally in the Nu Skin core business, the company saw notable gains in the Rhyz business. Key product launches such as ageLOC WellSpa iO, RenuSpa iO, and TRMe also performed well.Amid the ongoing business transformation challenges in the current disruptive landscape, Nu Skin remains steadfast in evolving strategies for both Nu Skin and Rhyz businesses, prioritizing long-term growth and delivering shareholder value.
Quarter in Detail
Nu Skin posted adjusted earnings of 9 cents a share, excluding restructuring. The metric declined from the adjusted figure of 37 cents reported in the year-ago quarter. However, the bottom line surpassed the Zacks Consensus Estimate of 5 cents.