USANA Health Sciences, Inc. reported its financial results for the second quarter of 2024. Net sales for the quarter were $213 million, an 11% decline from the same quarter last year, and a 7% decline sequentially. Diluted EPS was down 39% year over year to $0.54, while active customer numbers dipped 4% from the second quarter of 2023 to 468,000.
“Second quarter operating results were below our expectations,” said Jim Brown, USANA President and Chief Executive Officer. “Ongoing macroeconomic pressures in several of our key markets continue to impact consumer spending. This in turn creates challenges in our ability to attract and engage new customers and generate sales momentum. To counter these challenges, we have made several strategic changes in our business over the past few quarters, including (i) restructuring our commercial team, (ii) heightening our focus on product innovation, (iii) increasing our efforts to engage our sales leaders with an Associate-first approach, (iv) expanding into India, and (v) evaluating more business development activities.”
Asia Pacific continued to be the strongest region for the company, with $171 million in net sales, a 12% decline year over year, and 369,000 active customers. Americas and Europe saw $42 million in net sales, a 5% decline year over year and 99,000 active customers.
Operating cash flow generated during the second quarter was $8 million. The company ended the quarter with $332 million in cash and cash equivalents with no debt outstanding.
