Nu Skin Enterprises Inc. (NYSE: NUS) announced third quarter results.
Business For Home comment:
Nu Skin lost almost $1 Billion in revenue from 2018 ($2,680 Million) to 2024 ($1,730 Million forecast).
Nu Skin lost 400,000+ customers from 2018 (1,244,000) to 2024 (831,768)
Nu Skin lost almost 50% of it sales leaders from 2018 (73,400) to 2024 (38,284)
Nu Skin press release:
Executive Summary Q3 2024 vs. Prior-year Quarter
Revenue $430.1 million; (13.8)%
Earnings Per Share (EPS) $0.17 compared to $(0.74) or $0.56 excluding an inventory write-off.
Customers 831,768; (15)%
Paid Affiliates; 149,264; (20)% or (11)% excluding an adjustment to eligibility requirements
Sales Leaders; 38,284; (19)%
“During the third quarter, we achieved results within our previous guidance range with challenges in the core business partially offset by continued strong growth in our Rhyz segment,”
said Ryan Napierski, Nu Skin president and CEO.
“While we continue to face macroeconomic pressures and challenges within the direct selling industry, our immediate focus is to strengthen the Nu Skin core with a revised business model intended to improve channel activation and customer growth beginning with North America and South Korea this quarter.
In addition, we are introducing a streamlined operating framework to improve profitability with an adjusted pricing model to improve customer penetration in developing markets starting with