Anzeige
Mehr »
Login
Donnerstag, 28.03.2024 Börsentäglich über 12.000 News von 687 internationalen Medien
Spezial am Donnerstag: Rallye II. - Neuer Anstoß, News und was die Börsencommunity jetzt nicht verpassen will…
Anzeige

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Fonds

Kurs

%

Devisen

Kurs

%

Rohstoffe

Kurs

%

Themen

Kurs

%

Erweiterte Suche
PR Newswire
451 Leser
Artikel bewerten:
(2)

Nu Skin Enterprises Reports Fourth Quarter and 2022 Financial Results

Company Provides Initial Outlook for Q1 and FY 2023

PROVO, Utah, Feb. 15, 2023 /PRNewswire/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today announced fourth quarter and full year 2022 results.

Executive Summary

Q4 2022 vs. Prior-year Quarter

Revenue:

$522.3 million; (22)%

• (7)% FX impact or $(51) million

Earnings Per Share
(EPS):

$1.15 or $0.89 excluding restructuring and impairment charges
associated with the company's strategic resource reallocation and a
recent IRS-approved favorable tax method change, compared to
$(0.18) or $1.11 excluding restructuring and impairment charges in
Q4 2021

Customers:

1,147,124; (16)%

Paid Affiliates:

236,956; (13)%

Sales Leaders:

48,737; (21)%

Executive Summary

2022 vs. 2021

Revenue:

$2.23 billion; (17)%

• (5)% FX impact or $(150) million

Earnings Per Share
(EPS):

$2.07 or $2.90 excluding restructuring and impairment charges and
a tax method change, compared to $2.86 or $4.14 excluding
restructuring and impairment charges

"We made steady progress toward our Nu Vision 2025 strategy, despite persistent macro-economic challenges, which primarily included COVID-related disruptions in Mainland China, global inflation and foreign currency headwinds," said Ryan Napierski, Nu Skin president and CEO. "We achieved several key milestones during 2022 including the introduction of our first connected device, ageLOC® LumiSpa® iO, further strengthening our position as the world's leading beauty device system brand; the rollout of our Vera and Stela apps in all markets, which provide increased consumer and affiliate engagement; and steady advancements with our social commerce model. While we saw our sales channel contract primarily due to macroeconomic factors, we drove annual revenue growth of 4 percent in the U.S. and 2 percent in Southeast Asia/Pacific . Japan and Hong Kong / Taiwan also grew in constant currency, while reported revenue was down due to FX headwinds.

"Looking ahead, while the macro-environment remains uncertain, we expect it to steadily improve throughout the year. We remain confident in our Nu Vision 2025 strategy to help drive long-term growth and increase shareholder value, which we will update on our earnings call today. During the year, we will be advancing our EmpowerMe personalized beauty and wellness strategy by introducing our body iO smart, connected device system and rolling out our TRMe® weight management line. We will also continue to enhance our Vera and Stela apps with additional capabilities, features and improvements to streamline the overall user experience. In addition, as we continue to expand our affiliate-powered social commerce model, we will focus on stabilizing performance in more challenged regions and leveraging best practices from our markets that are further along in their social commerce transition. Lastly, as we navigate the year ahead, we will continue to be conservative in our guidance and prudent in our cost management while we invest in our future."

Q4 2022 Year-over-year Operating Results

Revenue:

$522.3 million compared to $673.4 million

• (7)% FX impact or $(51) million

Gross Margin:

71.7% compared to 74.2% or 75.2% excluding restructuring and
impairment charges in Q4 2021

• Impacted by geographic footprint, foreign currency and
global inflationary pressures

• Nu Skin business was 74.9% compared to 77.9%

Selling Expenses:

38.5% compared to 39.1%

• Nu Skin business was 40.5% compared to 41.4%

G&A Expenses:

24.4% compared to 24.4%

Operating Margin:

5.3% or 8.8% excluding restructuring and impairment charges,
compared to 3.0% or 11.7% excluding restructuring and impairment
charges

Other Income /
(Expense):

$(3.1) million compared to $(1.9) million

Income Tax Rate:

(134.9)% or (3.7)% excluding restructuring and impairment charges
and a recent IRS-approved favorable tax method change, compared
to 150.1% or 26.9% excluding restructuring and impairment charges

EPS:

$1.15 or $0.89 excluding restructuring and impairment charges and
a tax method change, compared to $(0.18) or $1.11 excluding
restructuring and impairment charges

Stockholder Value

Dividend Payments:

$19.0 million

Stock Repurchases:

$10.0 million

• $175.4 million remaining in authorization

Q1 and Full-year 2023 Outlook

Q1 2023 Revenue:

$450 to $490 million; (26) to (19)%

• Approximately (6) to (5)% FX impact

Q1 2023 EPS:

$0.17 to $0.27 or $0.25 to $0.35 non-GAAP

2023 Revenue:

$2.03 to $2.18 billion; (9)% to (2)%

• Approximately (2) to (1)% FX impact

2023 EPS:

$2.27 to $2.67 or $2.35 to $2.75 non-GAAP

"Our initial 2023 guidance assumes the global macro environment remains challenging in the near-term, improving throughout the year," said Mark Lawrence, chief financial officer. "Our annual revenue guidance is $2.03 to $2.18 billion, with an approximate 1 to 2 percent foreign currency headwind. We anticipate reported EPS of $2.27 to $2.67 or $2.35 to $2.75 excluding charges associated with a modest amount of 2023 restructuring. For the first quarter, we project revenue of $450 to $490 million, assuming a negative foreign currency impact of approximately 5 to 6 percent, with reported earnings per share of $0.17 to $0.27 or $0.25 to $0.35 when excluding an anticipated first-quarter restructuring and impairment charge of $5 to $10 million ."

Conference Call

The Nu Skin Enterprises management team will host a conference call with the investment community today at 5 p.m. (ET). Those wishing to access the webcast, as well as the financial information presented during the call, can visit the Investor Relations page on the company's website at ir.nuskin.com. A replay of the webcast will be available on the same page through March 1, 2023.

About Nu Skin Enterprises, Inc.

Nu Skin Enterprises, Inc. (NYSE: NUS) is a global integrated beauty and wellness company, powered by a dynamic affiliate opportunity platform. The company helps people look, feel and live their best with products that combine the best of science, technology and nature. Backed by more than 35 years of scientific research, Nu Skin develops innovative products including Nu Skin® personal care, Pharmanex® nutrition and the ageLOC® anti-aging brand which includes an award-winning line of beauty device systems. Nu Skin operates in nearly 50 markets worldwide in the Americas, Asia, Europe, Africa and the Pacific. Rhyz Inc. is the company's strategic investment arm that includes a collection of technology and manufacturing companies to support growth in the core Nu Skin business. Nu Skin is committed to sustainability, including global initiatives such as transitioning to reduced and sustainable packaging for all products by 2030. The Nu Skin Force for Good Foundation also strives to improve children's health, education and economic circumstances throughout the world. For more information, visit nuskin.com.

Important Information Regarding Forward-Looking Statements: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that represent the company's current expectations and beliefs. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws and include, but are not limited to, statements of management's expectations regarding the macro-environment and the company's performance, growth, shareholder value, financial position, strategies, vision, transformation, initiatives, product pipeline and product introductions, digital and social-commerce tools and initiatives, customers, sales leaders, affiliates, and operational improvements; projections regarding revenue, expenses, operating income, earnings per share, foreign currency fluctuations, uses of cash and other financial items; statements of belief; and statements of assumptions underlying any of the foregoing. In some cases, you can identify these statements by forward-looking words such as "believe," "expect," "anticipate," "project," "continue," "outlook," "guidance," "remain," "become," "plan," "potential," "expand," "will," "would," "could," "may," "might," the negative of these words and other similar words.

The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to, the following:

  • risk that epidemics, including COVID-19 and related disruptions, and other crises could negatively impact our business;
  • adverse publicity related to the company's business, products, industry or any legal actions or complaints by the company's sales force or others;
  • risk that direct selling laws and regulations in any of the company's markets, including the United States and Mainland China, may be modified, interpreted or enforced in a manner that results in negative changes to the company's business model or negatively impacts its revenue, sales force or business, including through the interruption of sales activities, loss of licenses, increased scrutiny of sales force actions, imposition of fines, or any other adverse actions or events;
  • any failure of current or planned initiatives or products to generate interest among the company's sales force and customers and generate sponsoring and selling activities on a sustained basis;
  • political, legal, tax and regulatory uncertainties, including trade policies, associated with operating in Mainland China and other international markets;
  • uncertainty regarding meeting restrictions and other government scrutiny in Mainland China, as well as negative media and consumer sentiment in Mainland China on our business operations and results;
  • risk of foreign-currency fluctuations and the currency translation impact on the company's business associated with these fluctuations;
  • uncertainties regarding the future financial performance of the businesses the company has acquired;
  • risks related to accurately predicting, delivering or maintaining sufficient quantities of products to support planned initiatives or launch strategies, and increased risk of inventory write-offs if the company over-forecasts demand for a product or changes its planned initiatives or launch strategies;
  • regulatory risks associated with the company's products, which could require the company to modify its claims or inhibit its ability to import or continue selling a product in a market if the product is determined to be a medical device or if the company is unable to register the product in a timely manner under applicable regulatory requirements;
  • unpredictable economic conditions and events globally;
  • the company's future tax-planning initiatives; any prospective or retrospective increases in duties or tariffs on the company's products imported into the company's markets outside of the United States ; and any adverse results of tax audits or unfavorable changes to tax laws in the company's various markets; and
  • continued competitive pressures in the company's markets.

The company's financial performance and the forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission. The forward-looking statements set forth the company's beliefs as of the date that such information was first provided, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change except as required by law.

Non-GAAP Financial Measures: Constant-currency revenue change is a non-GAAP financial measure that removes the impact of fluctuations in foreign-currency exchange rates, thereby facilitating period-to-period comparisons of the company's performance. It is calculated by translating the current period's revenue at the same average exchange rates in effect during the applicable prior-year period and then comparing that amount to the prior-year period's revenue. The company believes that constant-currency revenue change is useful to investors, lenders and analysts because such information enables them to gauge the impact of foreign-currency fluctuations on the company's revenue from period to period.

Earnings per share, gross margin, operating margin, and income tax rate, each excluding restructuring and impairment charges and/or tax method changes, also are non-GAAP financial measures. Restructuring and impairment charges and tax method changes are not part of the ongoing operations of our underlying business. The company believes that these non-GAAP financial measures are useful to investors, lenders and analysts because removing the impact of restructuring and impairment charges and tax method changes facilitates period-to-period comparisons of the company's performance. Please see the reconciliations of these items to our earnings per share and other income (expense) calculated under GAAP, below.

The following table sets forth revenue for the three-month periods ended December 31, 2022 and 2021 for each of our reportable segments (U.S. dollars in thousands):


Three Months Ended

December 31,




Constant-
Currency


2022


2021


Change


Change

Nu Skin












Americas

$

128,921


$

144,000



(10) %



(7) %

Mainland China


73,935



130,708



(43) %



(37) %

Southeast Asia/Pacific


76,606



90,313



(15) %



(8) %

South Korea


60,029



92,528



(35) %



(26) %

Japan


53,877



63,215



(15) %



6 %

EMEA


55,337



68,066



(19) %



(9) %

Hong Kong/Taiwan


39,789



47,816



(17) %



(10) %

Nu Skin o ther


1,525



156



878 %



876 %

Total Nu Skin


490,019



636,802



(23) %



(15) %

Rhyz Investments












Manufacturing


29,560



36,360



(19) %



(19) %

Rhyz other


2,761



274



908 %



908 %

Total Rhyz Investments


32,321



36,634



(12) %



(12) %

Total

$

522,340


$

673,436



(22) %



(15) %

The following table sets forth revenue for the years ended December 31, 2022 and 2021 for each of our reportable segments (U.S. dollars in thousands):


Year Ended

December 31,




Constant-
Currency


2022


2021


Change


Change

Nu Skin












Americas

$

508,537


$

547,755



(7) %



(5) %

Mainland China


360,389



568,774



(37) %



(35) %

Southeast Asia/Pacific


344,411



336,651



2 %



7 %

South Korea


268,707



354,252



(24) %



(15) %

Japan


224,896



266,216



(16) %



-

EMEA


204,275



283,200



(28) %



(19) %

Hong Kong/Taiwan


157,197



162,611



(3) %



1 %

Nu Skin o ther


3,959



3,653



8 %



8 %

Total Nu Skin


2,072,371



2,523,112



(18) %



(12) %

Rhyz Investments












Manufacturing


149,458



172,120



(13) %



(13) %

Rhyz other


3,830



437



776 %



776 %

Total Rhyz Investments


153,288



172,557



(11) %



(11) %

Total

$

2,225,659


$

2,695,669



(17) %



(12) %

The following table provides information concerning the number of Customers, Paid Affiliates and Sales Leaders in our core Nu Skin business for the three-month periods ended December 31, 2022 and 2021:


Three Months Ended

December 31,



Customers

2022


2021


Change

Americas


299,287



336,564


(11) %

Mainland China


202,933



315,418


(36) %

Southeast Asia/Pacific


141,183



169,601


(17) %

South Korea


123,749



146,354


(15) %

Japan


119,152



122,813


(3) %

EMEA


197,917



210,414


(6) %

Hong Kong/Taiwan


62,903



66,395


(5) %

Total


1,147,124



1,367,559


(16) %



Three Months Ended

December 31,



Paid Affiliates

2022


2021


Change

Americas


42,633



49,328


(14) %

Mainland China


23,436



30,546


(23) %

Southeast Asia/Pacific


38,653



44,050


(12) %

South Korea


45,058



52,036


(13) %

Japan


38,021



38,428


(1) %

EMEA


31,869



36,482


(13) %

Hong Kong/Taiwan


17,286



20,155


(14) %

Total


236,956



271,025


(13) %



Three Months Ended

December 31,



Sales Leaders

2022


2021


Change

Americas


9,594



10,879


(12) %

Mainland China(1)


12,359



18,207


(32) %

Southeast Asia/Pacific


6,999



8,800


(20) %

South Korea


6,094



8,224


(26) %

Japan


5,936



5,864


1 %

EMEA


4,740



5,743


(17) %

Hong Kong/Taiwan


3,015



3,666


(18) %

Total


48,737



61,383


(21) %

(1) The December 31, 2022 number reflects a modified Sales Leader definition, as described in our annual report on form 10-K.

  • "Customers" are persons who have purchased directly from the Company during the three months ended as of the date indicated. Our Customer numbers include members of our sales force who made such a purchase, including Paid Affiliates and those who qualify as Sales Leaders, but they do not include consumers who purchase directly from members of our sales force.
  • "Paid Affiliates" are any Brand Affiliates, as well as members of our sales force in Mainland China, who earned sales compensation during the three-month period. In all of our markets besides Mainland China, we refer to members of our independent sales force as "Brand Affiliates" because their primary role is to promote our brand and products through their personal social networks.
  • "Sales Leaders" are the three-month average of our monthly Brand Affiliates, as well as sales employees and independent marketers in Mainland China, who achieved certain qualification requirements as of the end of each month of the quarter.

NU SKIN ENTERPRISES, INC.

Consolidated Statements of Income (Unaudited)

(U.S. dollars in thousands, except per share amounts)






Three Months Ended

December 31,


Year Ended

December 31,


2022


2021


2022


2021

Revenue

$

522,340


$

673,436


$

2,225,659


$

2,695,669

Cost of sales


147,816



173,775



630,915



675,223

Gross profit


374,524



499,661



1,594,744



2,020,446













Operating expenses:












Selling expenses


201,031



263,265



879,634



1,080,153

General and administrative expenses


127,664



164,206



555,769



654,431

Restructuring and impairment expenses


18,370



51,870



48,494



51,870

Total operating expenses


347,065



479,341



1,483,897



1,786,454













Operating income (loss)


27,459



20,320



110,847



233,992

Other income (expense), net


(3,104)



(1,884)



(21,877)



(1,533)













Income before provision for income taxes


24,355



18,436



88,970



232,459

Provision (benefit) for income taxes


(32,860)



27,666



(15,808)



85,193













Net income (loss)

$

57,215


$

(9,230)


$

104,778


$

147,266













Net income (loss) per share:












Basic

$

1.16


$

(0.19)


$

2.10


$

2.93

Diluted

$

1.15


$

(0.18)


$

2.07


$

2.86













Weighted-average common shares outstanding (000s):












Basic


49,452



49,862



50,002



50,193

Diluted


49,783



50,801



50,525



51,427

NU SKIN ENTERPRISES, INC.

Consolidated Balance Sheets (Unaudited)

(U.S. dollars in thousands)






December 31,

2022


December 31,

2021

ASSETS




Current assets:




Cash and cash equivalents

$

264,725


$

339,593

Current investments


13,784



15,221

Accounts receivable, net


47,360



41,299

Inventories, net


346,183



399,931

Prepaid expenses and other


87,816



76,906

Total current assets


759,868



872,950







Property and equipment, net


444,806



453,674

Operating lease right-of-use assets


98,734



120,973

Goodwill


206,432



206,432

Other intangible assets, net


66,701



76,991

Other assets


244,429



175,460

Total assets

$

1,820,970


$

1,906,480







LIABILITIES AND STOCKHOLDERS' EQUITY






Current liabilities:






Accounts payable

$

53,963


$

49,993

Accrued expenses


280,280



372,201

Current portion of long-term debt


25,000



107,500

Total current liabilities


359,243



529,694







Operating lease liabilities


76,540



88,759

Long-term debt


377,466



268,781

Other liabilities


110,425



106,474

Total liabilities


923,674



993,708







Commitments and contingencies












Stockholders' equity:






Class A common stock - 500 million shares authorized, $ 0.001 par value, 90.6 million shares issued


91



91

Additional paid-in capital


613,278



601,703

Treasury stock, at cost - 41.1 million and 40.7 million shares


(1,569,061)



(1,526,860)

Accumulated other comprehensive loss


(86,509)



(73,896)

Retained earnings


1,939,497



1,911,734

Total stockholders' equity


897,296



912,772

Total liabilities and stockholders' equity

$

$1,820,970


$

1,906,480

NU SKIN ENTERPRISES, INC.
Reconciliation of Gross Margin Excluding Impact of Restructuring and Impairment to GAAP Gross Margin
(in thousands, except for per share amounts)
















Three months ended
December 31,


Year ended

December 31,



2022


2021


2022


2021

Gross profit


$

374,524


$

499,661


$

1,594,744


$

2,020,446

Impact of restructuring and impairment:













Inventory write-off



-



6,656



26,905



6,656

Adjusted gross profit


$

374,524


$

506,317


$

1,621,649


$

2,027,102














Gross margin



71.7 %



74.2 %



71.7 %



75.0 %

Gross margin, excluding restructuring impact



71.7 %



75.2 %



72.9 %



75.2 %














Revenue


$

522,340


$

673,436


$

2,225,659


$

2,695,669

NU SKIN ENTERPRISES, INC.
Reconciliation of Operating Margin Excluding Impact of Restructuring and Impairment to GAAP Operating Margin
(in thousands, except for per share amounts)

















Three months ended
December 31,


Year ended

December 31,



2022


2021


2022


2021


Operating Income


$

27,459


$

20,320


$

110,847


$

233,992


Impact of restructuring and impairment:














Restructuring and impairment



18,369



51,870



48,493



51,870


Inventory write-off



-



6,656



26,905



6,656


Adjusted operating income


$

45,828


$

78,846


$

186,245


$

292,518






























Operating margin



5.3 %



3.0 %



5.0 %



8.7 %


Operating margin, excluding restructuring impact



8.8 %



11.7 %



8.4 %



10.9 %
















Revenue


$

522,340


$

673,436


$

2,225,659


$

2,695,669


NU SKIN ENTERPRISES, INC.
Reconciliation of Effective Tax Rate Excluding Impact of Restructuring to GAAP Effective Tax Rate
(in thousands, except for per share amounts)
















Three months ended
December 31,


Year ended

December 31,



2022


2021


2022


2021

Provision (benefit) for income taxes


$

(32,860)


$

27,666


$

(15,808)


$

85,193

Impact of restructuring on provision for
income taxes



(903)



(6,933)



10,651



(6,933)

Impact of Tax Changes



32,187



-



32,187



-

Provision for income taxes, excluding
impact of restructuring


$

(1,576)


$

20,733


$

27,030


$

78,260














Income before provision for income taxes



24,355



18,436



88,970



232,459

Impact of restructuring and impairment expense:













Inventory write-off



-



6,656



26,905



6,656

Restructuring and impairment



18,369



51,870



48,493



51,870

Impact of charges associated with our Q4
exit from Grow Tech:













Unrealized investment loss



-



-



9,009



-

Income before provision for income taxes,
excluding impact of restructuring


$

42,724


$

76,962


$

173,377


$

290,985














Effective tax rate



-134.9 %



150.1 %



-17.8 %



36.6 %

Effective tax rate, excluding restructuring impact



-3.7 %



26.9 %



15.6 %



26.9 %

NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Restructuring to GAAP Earnings Per Share
(in thousands, except for per share amounts)
















Three months ended
December 31,


Year ended

December 31,



2022


2021


2022


2021

Net income


$

57,215


$

(9,230)


$

104,778


$

147,266

Impact of restructuring and impairment expense:













Restructuring and impairment



18,369



51,870



48,493



51,870

Cost of sales - Restructuring



-



6,656



26,905



6,656

Tax impact



903



6,933



(9,566)



6,933

Impact of charges associated with our Q4
exit from Grow Tech:













Unrealized loss on investment



-



-



9,009



-

Tax impact



-



-



(1,085)



-

Tax impact from method change



(32,187)



-



(32,187)



-

Adjusted net income


$

44,300


$

56,229


$

146,347


$

212,725



























Diluted earnings per share


$

1.15


$

(0.18)


$

2.07


$

2.86

Diluted earnings per share, excluding
restructuring impact


$

0.89


$

1.11


$

2.90


$

4.14














Weighted-average common shares
outstanding (000):



49,783



50,801



50,525



51,427

NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Restructuring to GAAP Earnings Per Share
















Three months ended
March 31,


Year ended December 31,



2023 - Low-end


2023 High-end


2023 - Low-end


2023 High-end

Earnings Per Share


$

0.17


$

0.27


$

2.27


$

2.67

Impact of restructuring and impairment expense:













Restructuring and impairment



0.10



0.10



0.10



0.10

Tax impact



(0.02)



(0.02)



(0.02)



(0.02)

Adjusted EPS


$

0.25


$

0.35


$

2.35


$

2.75

SOURCE Nu Skin Enterprises

Großer Dividenden-Report 2024 von Dr. Dennis Riedl
Der kostenlose Dividenden-Report zeigt ganz genau, wo Sie in diesem Jahr zuschlagen können. Das sind die Favoriten von Börsenprofi Dr. Dennis Riedl
Jetzt hier klicken
© 2023 PR Newswire
Werbehinweise: Die Billigung des Basisprospekts durch die BaFin ist nicht als ihre Befürwortung der angebotenen Wertpapiere zu verstehen. Wir empfehlen Interessenten und potenziellen Anlegern den Basisprospekt und die Endgültigen Bedingungen zu lesen, bevor sie eine Anlageentscheidung treffen, um sich möglichst umfassend zu informieren, insbesondere über die potenziellen Risiken und Chancen des Wertpapiers. Sie sind im Begriff, ein Produkt zu erwerben, das nicht einfach ist und schwer zu verstehen sein kann.