Nu Skin Enterprises, Inc. released its second quarter 2021 financial results, revealing a 15% increase in revenue over the same quarter last year. Total revenue for the quarter was $704.1 million, with a 42% growth in earnings per share (EPS), which now stands at $1.15.
“Our growth and success this quarter and over the past year reflect our strategy of delivering world-class beauty and wellness products, being customer obsessed, and digitally enabling our business,” said Ritch Wood, Chief Executive Officer. “Our performance was led by continued growth in our beauty device systems and further adoption of social commerce. In addition, we significantly improved profitability during the quarter, which led to strong earnings per share growth. We have a solid foundation in place, and I am fully confident in Ryan and our leadership team to build on the momentum and take Nu Skin to the next level.”
Sales leaders within the company increased 15% to total 64,228, while customer numbers grew 2% to 1,467,617.
“We continue to advance 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. “During the quarter, we strengthened our position as the market leader in beauty device systems as our latest device system, ageLOC Boost, generated momentum with a strong launch in EMEA. Additionally, we are pleased with the rollout of Nutricentials Bioadaptives, which is targeted at a millennial/Gen Z consumer. In the back half of the year, we will begin rolling out Beauty Focus Collagen+, which leverages our unique strength in both beauty and wellness, and ageLOC Meta, our next significant Pharmanex product introduction. We are pleased with 15 percent growth in sales leaders, while customers declined slightly due to a significant surge in the prior year. To better support our affiliates with customer acquisition, we will be rolling out additional digital tools over the next several quarters such as personalized social commerce shops in Mainland China. This represents a significant step forward in deploying our digital tools in the world’s largest social commerce market.”
Third quarter outlook includes an expected revenue of $700-$730 million, and $2.81 to $2.87 billion for the full-year. Third quarter EPS is expected to fall within the range of $1.10 to $1.20, and $4.30 to $4.50 for the full year.
“We reported 42 percent EPS growth driven by strong improvements in both gross margin and operating margin as a result of continued expense control and supply chain efficiency,” said Mark Lawrence, Chief Financial Officer. “We are raising our EPS guidance for the year as we continue to focus on generating enhanced value for our shareholders.”