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Nature's Sunshine(NATR) - 2023 Q3 - Quarterly Report
2023-11-07 22:11
Sales Performance - Consolidated net sales for Q3 2023 were $111.2 million, a 6.4% increase from $104.5 million in Q3 2022, while net sales for the nine months ended September 30, 2023, were $336.4 million, up 5.4% from $319.2 million in the same period last year [103]. - Net sales in Asia for Q3 2023 reached $52.2 million, a 9.1% increase from $47.9 million in Q3 2022, and for the nine months, sales were $153.4 million, up 8.5% from $141.4 million [104]. - In North America, net sales for Q3 2023 were $34.8 million, a 10.4% increase from $31.5 million in Q3 2022, and for the nine months, sales were $104.1 million, up 2.5% from $101.6 million [110]. - In the Taiwan market, net sales increased by $2.1 million (15.8%) for Q3 2023 compared to Q3 2022, attributed to effective sales force execution [106]. - The China market saw a significant increase in net sales of $2.5 million (30.7%) for Q3 2023, driven by the expiration of COVID-19 restrictions and product promotions [108]. - Europe experienced a slight decrease in net sales for Q3 2023, totaling $18.8 million, down 2.9% from $19.3 million in Q3 2022, primarily due to reduced average order sizes [109]. - Latin America and Other markets reported net sales of $5.4 million for Q3 2023, a decrease of 6.4% from $5.8 million in Q3 2022, reflecting customer sensitivity to economic conditions [112]. - The company anticipates continued growth in net sales driven by product sales improvements in Asia and North America, despite challenges from foreign currency fluctuations and inflation [102]. Cost and Expenses - Cost of sales as a percentage of net sales decreased to 26.9% for Q3 2023 from 28.4% in Q3 2022, indicating improved contribution margin initiatives despite inflationary pressures [114]. - Volume incentives as a percentage of net sales were 30.7% for Q3 2023, down from 31.6% in Q3 2022, reflecting changes in promotional activity and sales mix [115]. - Selling, general and administrative expenses increased by $4.5 million to $41.3 million for the three months ended September 30, 2023, and by $12.9 million to $127.2 million for the nine months ended September 30, 2023, compared to the same periods in 2022 [117]. - Selling, general and administrative expenses represented 37.1% and 37.8% of net sales for the three and nine months ended September 30, 2023, respectively, compared to 35.2% and 35.8% for the same periods in 2022 [117]. Cash Flow and Financial Position - Operating activities provided cash of $31.6 million for the nine months ended September 30, 2023, compared to using cash of $2.9 million in the same period in 2022 [132]. - Investing activities used $9.2 million for the nine months ended September 30, 2023, compared to $4.7 million for the same period in 2022 [133]. - Financing activities used $3.4 million for the nine months ended September 30, 2023, compared to $15.3 million in cash for the same period in 2022 [134]. - The company had $76.0 million in cash as of September 30, 2023, with $66.7 million held in foreign markets [130]. Tax and Other Charges - The provision for income taxes was 35.9% for the three months ended September 30, 2023, compared to 92.7% for the same period in 2022 [119]. - A one-time pre-tax charge of $5.8 million was recorded for the nine months ended September 30, 2023, related to a criminal scheme directed at a wholly owned subsidiary [117]. - Other loss, net, for the three months ended September 30, 2023, was $0.9 million, an improvement from a loss of $2.3 million in the same period in 2022 [118]. Share Repurchase - The company repurchased 180,000 shares of common stock for $2.2 million during the nine months ended September 30, 2023 [134].
Nature's Sunshine(NATR) - 2023 Q2 - Earnings Call Transcript
2023-08-10 01:55
Nature's Sunshine Products, Inc. (NASDAQ:NATR) Q2 2023 Earnings Conference Call August 9, 2023 5:00 PM ET Company Participants Nathan Brower - General Counsel Terrence Moorehead - CEO Shane Jones - CFO Conference Call Participants Linda Bolton-Weiser - D.A. Davidson Operator Good afternoon, everyone, and thank you for participating in today's conference call to discuss Nature's Sunshine's Financial Results for the Second Quarter Ended June 30, 2023. Joining us today are Nature's Sunshine's CEO, Terrence Moo ...
Nature's Sunshine(NATR) - 2023 Q2 - Quarterly Report
2023-08-09 21:09
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF FORM 10-Q (Mark One) For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission File Number: 001-34483 NATURE'S SUNSHINE PRODUCTS, INC. (Exact n ...
Nature's Sunshine(NATR) - 2023 Q1 - Earnings Call Transcript
2023-05-13 18:28
Nature's Sunshine Products, Inc. (NASDAQ:NATR) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Nathan Brower - General Counsel Terrence Moorehead - Chief Executive Officer Shane Jones - Chief Financial Officer Conference Call Participants Linda Bolton-Weiser - D.A. Davidson Operator Good afternoon, everyone, and thank you for participating in today's Conference Call to discuss Nature's Sunshine Financial Results for the First Quarter Ended March 31, 2023. Joining us today are Na ...
Nature's Sunshine(NATR) - 2023 Q1 - Quarterly Report
2023-05-09 21:11
Financial Performance - Consolidated net sales for Q1 2023 were $108.6 million, a decrease of 1.7% compared to $110.5 million in Q1 2022, primarily due to declines in North America [99]. - Excluding the impact of foreign currency fluctuations, consolidated net sales increased by 2.4% in Q1 2023 compared to the same period in 2022 [100]. - In Asia, net sales increased by 0.5% to $46.3 million in Q1 2023, with a local currency increase of 9.1% [101]. - North America net sales decreased by 3.7% to $34.6 million in Q1 2023, attributed to reduced average order sizes due to inflationary pressures [106]. - Other income for Q1 2023 was $1.5 million, compared to a loss of $0.3 million in Q1 2022, mainly due to foreign exchange gains [114]. - The effective tax rate for Q1 2023 was 25.7%, significantly lower than 369.9% in Q1 2022, due to changes in foreign operations tax liabilities [115]. Expenses and Costs - Selling, general and administrative expenses rose to $43.6 million in Q1 2023, representing 40.2% of net sales, up from 36.8% in Q1 2022 [113]. - Cost of sales as a percentage of net sales improved to 29.2% in Q1 2023 from 31.2% in Q1 2022, primarily due to prior-year inventory valuation reserves [110]. - Volume incentives as a percentage of net sales were 30.5% in Q1 2023, slightly down from 30.9% in Q1 2022 [111]. Cash Flow and Working Capital - As of March 31, 2023, working capital was $82.8 million, a slight decrease from $83.9 million as of December 31, 2022 [126]. - Operating activities generated cash of $9.3 million for the three months ended March 31, 2023, compared to a cash outflow of $7.9 million in the same period in 2022 [128]. - Investing activities used $2.3 million for capital expenditures related to equipment and software for the three months ended March 31, 2023, up from $1.5 million in the same period in 2022 [129]. - Financing activities used $1.2 million in cash for the three months ended March 31, 2023, a significant decrease from $9.4 million in the same period in 2022 [130]. - As of March 31, 2023, the company had $65.7 million in cash, with $61.0 million held in foreign markets subject to repatriation restrictions [126]. - The company believes that cash generated from operations will be sufficient to fund normal operating needs, including capital expenditures [132]. Shareholder Activities - The company repurchased 90,000 shares of common stock for $0.8 million during the three months ended March 31, 2023, with a remaining balance of $23.2 million available for future repurchases [130]. Business Operations - The company’s product categories include over 800 products across various health segments, with manufacturing primarily in Spanish Fork, Utah [120]. - The company markets its products through a network of independent consultants, providing incentives and support to drive sales [122].
Nature's Sunshine(NATR) - 2022 Q4 - Annual Report
2023-03-16 17:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________ FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2022 OR ☐ Transition report under Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from to . Commission file number 001-34483 NATURE'S SUNSHINE PRODUCTS, INC. (Exact name of registrant as specified in its charter) (State or ot ...
Nature's Sunshine(NATR) - 2022 Q4 - Earnings Call Transcript
2023-03-15 23:03
Nature's Sunshine Products, Inc. (NASDAQ:NATR) Q4 2022 Earnings Conference Call March 15, 2023 5:00 PM ET Company Participants Nate Brower - General Counsel Terrence Moorehead - Chief Executive Officer Shane Jones - CFO Martin Gonzalez - Executive Vice President, Global Supply Chain Conference Call Participants Linda Bolton Weiser - D.A. Davidson Operator Good afternoon, everyone and thank you for participating in today???s Conference Call to discuss Nature???s Sunshine???s Financial Results for the Fourth ...
Nature's Sunshine Products Common Stock (NATR)Investor Presentation - Slideshow
2022-12-09 02:14
| --- | --- | --- | --- | |------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | CONNECT WITH | | | | | | | | | | NATURE Investor Presentation \| December | | | | | | | | | | | | | | S A F E H A R B O R S T A T E M E N T S Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements regarding the Company's future business expectations, which are subject to the safe harbor provisions of the Private ...
Nature's Sunshine(NATR) - 2022 Q3 - Earnings Call Presentation
2022-11-06 16:42
| --- | --- | --- | --- | |------------------------------------------------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | CONNECT WITH | | | | | | | | | | NATURE | | | | | Q3 2022 Earnings Presentation November 3, 2022 | | | | | | | | | | | | | | S A F E H A R B O R S T A T E M E N T S Cautionary Note Regarding Forward-Looking Statements This presentation contains forward-looking statements regarding the Company's future business expectations, which are subject to the safe har ...
Nature's Sunshine(NATR) - 2022 Q3 - Earnings Call Transcript
2022-11-06 16:38
Nature???s Sunshine Products, Inc. (NASDAQ:NATR) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Terrence Moorehead - Chief Executive Officer Martin Gonzalez - Executive Vice President, Global Supply Chain Jon Lanoy - Interim CFO Nate Brower - General Counsel Conference Call Participants Steven Martin - Slater Operator Please standby. Good afternoon, everyone. And thank you for participating in today???s Conference Call to discuss Nature???s Sunshine???s Financial Results f ...