Nature’s Sunshine Products, Inc. announced its financial results for the first quarter of 2024, posting a 2% increase in net sales over the prior year’s quarter to reach $111 million. Adjusted EBITDA was also up slightly to $9.2 million, up from $9.1 million in Q1 2023.
“In the first quarter, our omni-channel approach and high-quality products combined to drive momentum in our business,” said Terrence Moorehead, Nature’s Sunshine CEO. “Specifically, we saw digital sales surge 33% with a 34% increase in new customers, helping our North American business unit grow 5% for the quarter. What’s more, the successful launch of our new Power Line products helped drive improved performance in our European business that further reinforced our positive momentum.”
The company’s gains in North America were offset by slower sales in the Asia/Pacific market, even as it remained positive, delivering 4% revenue growth in local currency. Inflationary pressures also continued to negatively impact costs, as did volatile foreign exchange rates.
The company ended the quarter with cash and cash equivalents of $77.8 million and $2.1 million of debt. Guidance for full year 2024 now includes net sales between $455-$480 million with an adjusted EBITDA between $42-$48 million.
