Nu Skin (NUS) Q4 Earnings Top Estimates, Revenues Decline Y/Y

Core Insights - Nu Skin Enterprises, Inc. (NUS) reported a decline in both revenue and earnings for the fourth quarter of 2023, although results exceeded the Zacks Consensus Estimate [1][3] - The company is focusing on long-term enterprise value by investing in three core initiatives, including growth in Rhyz, market expansion starting in India, and enhancing its digital-first affiliate platform [2] Financial Performance - Adjusted earnings were 37 cents per share, down from 89 cents year-over-year, but above the Zacks Consensus Estimate of 29 cents [3] - Revenues totaled $488.6 million, a decrease of approximately 6% year-over-year, with a 1% negative impact from foreign currency fluctuations; Rhyz revenues grew by 101% [3] - Gross profit was $352.4 million, down from $374.5 million year-over-year, with a gross margin of 72.1%, slightly up from 71.7% [4] Regional Performance - Revenue declines were observed across various regions: Americas (-19%), South Korea (-22%), Europe & Africa (-18%), while Hong Kong/Taiwan saw a 5% increase [5] Other Financial Details - The company ended the quarter with cash and cash equivalents of $256.1 million and long-term debt of $478 million [6] - Nu Skin paid out dividends of $19.3 million during the quarter and has $162.4 million remaining under its share repurchase authorization [6] Guidance - For 2024, Nu Skin anticipates revenues between $1.73 billion and $1.87 billion, indicating a decline of 12-5% from the previous year [7] - The company expects adjusted EPS to range from 95 cents to $1.35, down from $1.85 in 2023 [8] - For Q1 2024, revenue expectations are between $400 million and $435 million, reflecting a decline of 17-10% year-over-year [8]