Nu Skin Enterprises Inc. (NUS—NYSE) is raising its full-year revenue guidance on the back of a strong third quarter.
Management said sales of the company’s beauty and wellness products totaled $604.2 million in the quarter, up 6 percent from the year-earlier $571.3 million. Factoring out currency exchange, sales were up 4 percent. Revenue outstripped the $585.1 million estimate from analysts polled by Thomson Reuters.
“We introduced ageLOC Youth in South Korea in the quarter and saw continued enthusiasm around the globe for our latest ageLOC products,” said Truman Hunt, Nu Skin President and CEO. “We produced double-digit gains in North Asia and Greater China and posted growth in each of our regions with the exception of South Asia-Pacific, where a significant limited-time offer in the prior year made for a difficult comparison.”
For the quarter ended Sept. 30, the Utah company posted per-share earnings of 98 cents, compared with 28 cents a year ago, when Nu Skin absorbed a 43 cents per share inventory write-down charge in China. Boosted 9 cents by the closing of operations in Venezuela, third-quarter EPS beat the 84 cents predicted by analysts.
In the fourth quarter, management sees revenue of $550 million to $570 million, with earnings per share in the range of 77 cents to 81 cents. The company’s revenue outlook for the year is $2.23 billion to $2.25 billion, up from August guidance of $2.20 billion to $2.24 billion.