Nu Skin Enterprises, Inc. (NYSE: NUS) today announced third quarter 2022 results.
Executive Summary Q3 2022 vs. Prior-year Quarter:
Revenue: $537.8 million; (16)%
Earnings Per Share (EPS): $(0.51) or $0.47
Customers: 1,239,384; (11)%
Paid Affiliates: 243,276; (11)%
Sales Leaders: 49,824; (22)%
“Our third quarter results were impacted more than anticipated by worsening macro headwinds, including prolonged COVID-related disruptions in Mainland China, slowdown in South Korea, persistent global inflation and excessive foreign currency pressure,”
said Ryan Napierski, Nu Skin president and CEO.
“Despite the challenging macro environment, we further strengthened our position as the world’s leading beauty device system company by introducing our connected ageLOC® LumiSpa® iO.
This introduction, which continues in the fourth quarter, along with the expansion of ageLOC® Meta and Beauty Focus Collagen+ products and further advancement of our social commerce initiatives, helped us deliver constant-currency growth in four of our reporting segments.
The growth was led by Southeast Asia/Pacific and our tenth consecutive quarter of growth in our U.S. market. Japan and our Taiwan/Hong Kong segments grew in constant currency, with reported currency declines due to unfavorable foreign currency.
“We remain focused on Nu Vision 2025 for driving long-term growth and shareholder value as we continue executing against the core elements including the introduction of EmpowerMe,