Provo, Utah-based Nu Skin Enterprises Inc. recently announced its second-quarter 2017 financial results. The company reported second-quarter revenue of $550.1 million, compared to $600.5 million in Q2 2016, which included $106 million in limited-time-offer (LTO) sales. Q2 2017 was negatively impacted 2 percent by foreign currency fluctuations.
The $550.1 million was at the high end of its outlook of $530 to $550 million, and earnings per share of $0.77 exceeded its outlook of $0.65 to $0.70.
“We are pleased to deliver strong quarterly results as we implement our growth strategy,” said Chief Executive Officer Ritch Wood. “We believe our second-quarter results provide momentum we can build on as we prepare to introduce several new products and significant business initiatives in the fourth quarter. We remain focused on customer acquisition and are encouraged by our year-over-year customer growth. Looking forward, we believe our product and business initiatives, coupled with our continued efforts to increase our customer base, will help support business and sales leader growth in the second half of the year.”
“As we move into the second half of the year, we remain focused on executing our three key growth drivers—platforms, products and programs,” said Wood. “In the platforms area, we continue to drive social selling throughout our markets to expand our customer acquisition efforts. To support this strategy, we will introduce several new products at our ‘Nu Skin LIVE!’ global distributor event in October, including our ageLOC LumiSpa device. Additionally, we will begin to introduce new and enhanced programs designed to more effectively reward our sales leaders to drive growth. The progress we are making with these initiatives gives us confidence in our future.”
Chief Financial Officer Mark Lawrence added, “Given our strong second-quarter financial results, we are raising our full-year 2017 earnings per share outlook to $3.20 to $3.30 and reiterating our annual revenue guidance of $2.26 billion to $2.30 billion. For the third quarter, we project revenue of $540 million to $560 million and earnings per share of 71 cents to 76 cents. Our new products and programs are planned for the fourth quarter with the primary focus around ageLOC LumiSpa, which we anticipate will generate approximately $100 million in sales.”
To read the full Q2 report, click here.