USANA Health Sciences, Inc. announced preliminary third quarter results, including 2021 net sales expected to reach between $265 to $275 million, a decrease from the prior year period’s $299 million. Earnings per share for the quarter are also expected to decline, totaling $1.28 to $1.33 per share, down from $1.44 during the third quarter of 2020.
“Our sales results for the third quarter have been softer than we anticipated, largely because of increased disruptions and lockdowns in several of our markets due to the escalation of the COVID-19 pandemic,” said Kevin Guest, Chief Executive Officer and Chairman of the Board. “These disruptions have affected our customers and salesforce and, in some cases, our ability to operate and ship products. In some markets, we have had to postpone or cancel certain planned business events and activities. In other markets, we have delayed the introduction of new product offerings until 2022. These collective challenges have made it difficult to generate the level of sales activity we were expecting following the short-term sales incentive program offered in the second quarter. Finally, less favorable currency exchange rates also impacted our results during the third quarter and contributed to our adjusted sales outlook for the remainder of the year. As a result of these third quarter developments, we are revising our outlook for 2021. Despite these challenges, we are on track to deliver another record sales year with sales growth in the range of 4% to 6% versus the prior year.”
USANA’s Board of Directors has also increased the company’s share repurchase authorization to $150 million, which includes the remaining $14 million in the September 16, 2021 share repurchase authorization.
