Nu Skin released its third quarter 2022 financial report, posting Earnings Per Share (EPS) of $0.47, compared to $0.97 in the third quarter of last year. Third quarter revenue was $537.8 million, down from $641.2 million during the same quarter of 2021 and $703.3 million during the third quarter of 2020.
“Our third quarter results were impacted more than anticipated by worsening macro headwinds, including prolonged COVID-related disruptions in Mainland China, slowdown in South Korea, persistent global inflation and excessive foreign currency pressure,” said Ryan Napierski, Nu Skin president and CEO. “Despite the challenging macro environment, we further strengthened our position as the world’s leading beauty device system company by introducing our connected ageLOC LumiSpa iO. This introduction, which continues in the fourth quarter, along with the expansion of ageLOC Meta and Beauty Focus Collagen+ products and further advancement of our social commerce initiatives, helped us deliver constant-currency growth in four of our reporting segments. The growth was led by Southeast Asia/Pacific and our tenth consecutive quarter of growth in our U.S. market. Japan and our Taiwan/Hong Kong segments grew in constant currency, with reported currency declines due to unfavorable foreign currency. With more challenging macro conditions expected over the near to mid-term, we are pursuing a more aggressive tactical approach to our previously indicated restructuring to better align capabilities, resources and operational efficiencies. While these decisions are never easy, the moves we are making will place us in a stronger financial position going forward.”
The company’s fourth quarter outlook now includes revenue between $500 million-$550 million with an EPS between $0.30-$0.50, and full-year outlook now includes revenue between $2.2 billion-$2.25 billion and an EPS between $1.25-$1.45.
