November 02, 2017
Nu Skin Q3 Revenue Down 6.7% Over Prior Year
Provo, Utah-based Nu Skin Enterprises Inc. has announced financial results for the third quarter of 2017. The company reported third-quarter revenue of $563.7 million, compared to $604.2 million in Q3 2016, which included $56 million in limited-time-offer (LTO) sales. Q3 2017 was negatively impacted approximately 1 percent by foreign currency fluctuations.
“During the third quarter, we continued to execute our growth strategy and delivered results at the top-end of our previous guidance range,” said CEO Ritch Wood. “We generated sequential improvements in the business and are confident that our focus on social selling served as an important catalyst for steady customer and business growth in many of our markets. We also saw healthy energy within our salesforce leading up to our October Nu Skin LIVE! event.
“As we look ahead to the fourth quarter, we remain focused on expanding our customer base as we begin rolling out our platform, product and program initiatives,” said Wood. “During our LIVE! event, we introduced several new products aimed at increasing the pace of our social selling efforts, including the ageLOC LumiSpa treatment and cleansing device, which we plan to launch in every market during the first half of 2018. Over the next several quarters, we will begin implementing enhanced programs to more effectively reward our sales leaders and build long-term customer loyalty. We are confident that our strategic focus on these initiatives will help us build a solid base for future growth and enhanced value for our shareholders.”
“Looking forward, we expect fourth-quarter revenue in the $650 million to $670 million range, which includes a 1 percent negative foreign currency impact,” said Mark Lawrence, Chief Financial Officer. “In the quarter, we continue to anticipate approximately $100 million from the introduction of ageLOC LumiSpa, and project fourth-quarter earnings per share of $1.16 to $1.21.”
To read the full Nu Skin Q3 report, click here.