Nu Skin Enterprises, Inc. announced record-breaking revenue amounts for the first quarter of 2021 reaching $677 million, with earnings per share in the quarter increasing 153%, to $0.91.
Recruiting held strong for the company, with a 22% increase in distributors, totaling more than 60,000 in number. Customers increased 34%, to more than 1.5 million people.
“We are very pleased with a strong start to 2021 with our highest-ever first quarter revenue and earnings per share,” said Ritch Wood, Chief Executive Officer. “Our innovative beauty and wellness product initiatives powered by our social commerce business model led to 34 percent growth in our customer base over the prior year and a 22 percent increase in global sales leaders. We were recognized again by Euromonitor as the world’s number one beauty device systems brand. We continue to improve our geographic balance, driven by ongoing strong performance in the West, providing a more diversified and sustainable growth profile. Our manufacturing segment also achieved record results with 69 percent year-over-year revenue growth.”
The company’s presence in Mainland China outperformed all other markets for revenue, with more than $149 million, but the EMEA region led the way for customer acquisition, with a 111% increase.
“We continue to make progress toward our vision of becoming the world’s leading beauty and wellness company powered by our dynamic affiliate opportunity platform,” said Ryan Napierski, President and CEO-elect. “We added innovative products to our portfolio with the launch of ageLOC Boost and Nutricentials Bioadaptives, and our markets are forecasting strong demand for new product innovations being introduced in the back half of the year. These include Beauty Focus Collagen+, which is the first product in a new beauty-from-within line, and ageLOC Meta, a metabolic health supplement and our next major Pharmanex product introduction. The West markets continue to lead out in adopting our social commerce business model with triple-digit growth. Our affiliates are leveraging this model to connect with more consumers and attract people interested in building their own socially enabled affiliate marketing business. In the East, we grew 14 percent in Japan and modestly in Mainland China and anticipate increased adoption of our social commerce strategy and digital tools.”
The outlook for total revenue in 2021 is expected to reach $2.8 -$2.87 billion, with second quarter forecasts estimating $680-$705 million in revenue.
“During the quarter, we continued our focus on generating shareholder value by improving operating margin through G&A optimization and leveraging our balance sheet to repurchase nearly one million shares,” said Mark Lawrence, Chief Financial Officer. “We continue to create synergistic value from our Rhyz manufacturing companies as they enabled the accelerated growth throughout the West. Given the strong start to the year, as well as the positive trends we have seen in customer and sales leader growth, we are increasing our annual revenue and EPS guidance.”