USANA Health Sciences, Inc. released its third quarter financial results, reporting net sales of $213 million, a 9% decline from $233 million during the same period of 2022, and a 10% decline sequentially. Diluted EPS was $0.59, compared to $0.78 during the same quarter in 2022. Active Customers totaled 464,000, a slight decline (2%) from Q3 2022.
Asia Pacific proved to be the strongest market for the company, reporting $170 million in net sales, a 7% decline from Q3 2022, with 362,000 Active Customers.
“Operating results for the third quarter did not meet our expectations, largely because of challenging economic conditions across many of our regions and a lower cadence of promotional activity during the quarter,” said Jim Brown, USANA President and Chief Executive Officer. “These factors made it difficult to generate both Active Customer growth and top line momentum in our business. Notwithstanding these near-term challenges, the strength of our balance sheet and business model allowed us to continue investing in key strategic initiatives during the quarter, and we plan to continue to invest in and execute these strategies going forward. We also believe that the expanding global nutrition category, and consumers’ increased focus on health and wellness, provide a compelling opportunity for us to leverage our best-in-class health products and business opportunity. Consequently, we remain confident and optimistic that our strategies will generate long-term Active Customer and sales growth for USANA.”
The company ended the quarter with $307 million in cash and cash equivalents and generated $22 million in operating cash flow.
Fiscal year 2023 outlook now includes consolidated net sales of $900-$920 million with a diluted EPS between $2.80-$3.05.
