Nature’s Sunshine announced its third quarter financial results for 2024. Net sales for the quarter were up 3% to $114.6 million, and adjusted EBITDA was $10.7 million, a 5% increase from $10.3 million in the same period last year. Gross profit margin during the third quarter was 71.3%, down from 73.1% in the third quarter of 2023. The company attributes this slight decline to inflation and an unfavorable foreign exchange that negatively impacted its savings initiatives.
Operating income during the quarter was $2.6 million, a significant improvement from a loss of $0.9 million in the same quarter of 2023.
“The third quarter delivered the highest sales volume this year, with $114.6 million in sales, up 4% versus prior year on a local currency basis,” said Terrence Moorehead, Nature’s Sunshine CEO. “The strong performance was driven by robust customer growth in Japan and Taiwan, continued progress in Korea, and strong execution and customer activation in Central Europe. The positive momentum was somewhat offset by the macroeconomic headwinds in China. We are excited about the actions we’ve taken to advance our strategic agenda and remain confident that our approach will allow us to attract and retain more customers, drive profitable growth, and build shareholder value.”
Guidance for full year 2024 now expects net sales between $443-$448 million with an adjusted EBITDA between $40-$42 million.
