PROVO,
Utah, Aug. 4, 2022 /PRNewswire/ -- Nu
Skin Enterprises, Inc. (NYSE: NUS) today announced second quarter
2022 results.
Executive Summary
Q2 2022 vs. Prior-year
Quarter
Revenue:
|
$560.6 million;
(20)%
- (5)% FX impact or
$(34.6) million
|
Earnings Per Share
(EPS):
|
$0.67 or $0.77
excluding charges associated with our Q4 2021 exit from Grow Tech,
compared to $1.15 in Q2 2021
|
Customers:
|
1,380,615;
(6)%
|
Paid
Affiliates:
|
242,133;
(16)%
|
Sales
Leaders:
|
50,085;
(24)%
|
"As previously announced, our second quarter results were
impacted by extended COVID-related factors in Mainland China,
distractions in EMEA related to the ongoing conflict, weaker global
economic conditions impacting emerging markets and the record
strength of the U.S. dollar," said Ryan
Napierski, Nu Skin president and CEO. "Despite these
challenges, we delivered our ninth consecutive quarter of growth in
the U.S. on the strength of new product launches and our social
commerce model. Additionally, we drove year-over-year growth in our
Southeast Asia/Pacific and
Hong Kong/Taiwan segments due to the successful launch
of ageLOC Meta and early social commerce adoption.
"Looking toward the balance of the year, we remain focused on Nu
Vision 2025, including:
- Introduction of EmpowerMe, our personalized beauty and wellness
strategy, with the launch of our connected LumiSpa iO device
beginning in the third quarter;
- Expansion of affiliate-powered social commerce by introducing a
new affiliate incentive structure known as 'One Price' beginning
with LumiSpa iO and other select products; and
- Further adoption of our recently introduced Vera and Stela apps
with expanded languages and functionality, as well as the
introduction of MyShop in China.
"Given the current landscape, we are taking aggressive measures
to re-align our capabilities and resources with a focus on
delivering Nu Vision 2025, which will result in a restructuring
event in the second half and reduced operating expenses going
forward. While we anticipate macro factors will continue to weigh
on the business in the short-term, we remain confident in the
direction and potential of our vision."
Q2 2022 Year-over-year Operating
Results
Revenue:
|
$560.6 million compared
to $704.1 million
|
Gross
Margin:
|
73.6% compared to
75.6%
- Impacted by product
mix and foreign currency exchange
- Nu Skin business
was 77.0% compared to 78.3%
|
Selling
Expenses:
|
39.1% compared to
39.9%
- Nu Skin business
was 42.0% compared to 42.8%
|
G&A
Expenses:
|
25.3% compared to
23.6%
|
Operating
Margin:
|
9.2% compared to
12.1%
|
Other Income /
(Expense):
|
$(8.6) million or
$(2.9) million excluding charges associated with our Q4 2021 exit
from Grow Tech, compared to $(4.0) million
|
Income Tax
Rate:
|
20.2% compared to
27.1%
|
EPS:
|
$0.67 or $0.77
excluding charges associated with our Q4 2021 exit from Grow Tech,
compared to $1.15 in Q2 2021
|
Stockholder Value
Dividend
Payments:
|
$19.4
million
|
Stock
Repurchases:
|
$10.0
million
- $225.4 million
remaining in authorization
|
Q3 and Full-year 2022 Outlook
Q3 2022
Revenue:
|
$550 to $590 million;
(13) to (8)%
- Approximately (6)%
FX impact
|
Q3 2022
EPS:
|
$0.04 to $0.22 or $0.70
to $0.85 non-GAAP
|
2022
Revenue:
|
$2.33 to $2.41 billion;
(14) to (11)%
- Approximately (5)%
FX impact
|
2022
EPS:
|
$2.46 to $2.76 or $3.30
to $3.60 non-GAAP
|
"In light of the heightened global uncertainties and their
impact on our business, we are adjusting our annual guidance,"
added Mark Lawrence, chief financial
officer. "Our 2022 revenue guidance is now expected to be
$2.33 to $2.41
billion, with an approximate 5 percent foreign currency
headwind. We anticipate reported EPS of $2.46 to $2.76 or
$3.30 to $3.60 excluding the Q2 charges associated with
our Q4 2021 exit from Grow Tech, as well as second half
restructuring and impairment charges of $35 to $45 million
associated with the strategic reallocation of our capabilities and
resources toward Nu Vision 2025. We believe these actions will
benefit the balance of 2022 and provide approximately $100 million in cost savings in 2023. For the
third quarter, we project revenue of $550 to $590
million, assuming a negative foreign currency impact of
approximately 6 percent, with reported earnings per share of
$0.04 to $0.22 or $0.70 to
$0.85 when excluding the
third-quarter charge of approximately $30 million of the $35 to $45 million
estimate."
Conference Call
The Nu Skin Enterprises management team will host a conference
call with the investment community today at 5 p.m. (ET). Those
wishing to access the webcast, as well as the financial information
presented during the call, can visit the Investor Relations page on
the company's website at ir.nuskin.com. A replay of the
webcast will be available on the same page through Aug. 18,
2022.
About Nu Skin Enterprises, Inc.
Nu Skin Enterprises, Inc. (NYSE: NUS) is a global integrated
beauty and wellness company, powered by a dynamic affiliate
opportunity platform. The company helps people look, feel and live
their best with products that combine the best of science,
technology and nature. Backed by more than 35 years of scientific
research, Nu Skin develops innovative products including Nu
Skin® personal care, Pharmanex® nutrition and the ageLOC®
anti-aging brand which includes an award-winning line of beauty
device systems. Nu Skin operates in approximately 50 markets
worldwide in the Americas, Asia,
Europe, Africa and the Pacific. Rhyz Inc. is the
company's strategic investment arm that includes a collection of
technology and manufacturing companies to support growth in the
core Nu Skin business. Nu Skin is committed to sustainability,
including global initiatives such as transitioning to reduced and
sustainable packaging for all products by 2030. The Nu Skin
Force for Good Foundation also strives to improve children's
health, education and economic circumstances throughout the world.
For more information, visit nuskin.com.
Important Information Regarding Forward-Looking
Statements: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that represent the
company's current expectations and beliefs. All statements other
than statements of historical fact are "forward-looking statements"
for purposes of federal and state securities laws and include, but
are not limited to, statements of management's expectations
regarding the company's performance, growth, shareholder
value, strategies, vision, transformation, initiatives, product
pipeline and product introductions, digital and social-commerce
tools and initiatives, customers, sales leaders, affiliates, and
operational improvements; projections regarding revenue, expenses,
operating income, earnings per share, foreign currency
fluctuations, uses of cash and other financial items; statements of
belief; and statements of assumptions underlying any of the
foregoing. In some cases, you can identify these statements by
forward-looking words such as "believe," "expect," "anticipate,"
"project," "outlook," "guidance," "remain," "become," "plan,"
"potential," "expand," "will," "would," "could," "may," "might,"
the negative of these words and other similar words.
The forward-looking statements and related assumptions
involve risks and uncertainties that could cause actual results and
outcomes to differ materially from any forward-looking statements
or views expressed herein. These risks and uncertainties include,
but are not limited to, the following:
- risk that epidemics, including the ongoing COVID-19
pandemic, and other crises could negatively impact our
business;
- adverse publicity related to the company's business,
products, industry or any legal actions or complaints by the
company's sales force or others;
- risk that direct selling laws and regulations in any of the
company's markets, including the United
States and Mainland China, may be modified, interpreted or
enforced in a manner that results in negative changes to the
company's business model or negatively impacts its revenue, sales
force or business, including through the interruption of sales
activities, loss of licenses, increased scrutiny of sales force
actions, imposition of fines, or any other adverse actions or
events;
- any failure of current or planned initiatives or products to
generate interest among the company's sales force and customers and
generate sponsoring and selling activities on a sustained
basis;
- political, legal, tax and regulatory uncertainties
associated with operating in international markets, including
Mainland China;
- uncertainty regarding meeting restrictions and other
government scrutiny in Mainland China, as well as negative media
and consumer sentiment in Mainland China on our business operations
and results;
- risk of foreign-currency fluctuations and the currency
translation impact on the company's business associated with these
fluctuations;
- uncertainties regarding the future financial performance of
the businesses the company has acquired;
- risks related to accurately predicting, delivering or
maintaining sufficient quantities of products to support planned
initiatives or launch strategies, and increased risk of inventory
write-offs if the company over-forecasts demand for a product or
changes its planned initiatives or launch strategies;
- regulatory risks associated with the company's products,
which could require the company to modify its claims or inhibit its
ability to import or continue selling a product in a market if the
product is determined to be a medical device or if the company is
unable to register the product in a timely manner under applicable
regulatory requirements;
- unpredictable economic conditions and events globally,
including trade policies and tariffs;
- the company's future tax-planning initiatives; any
prospective or retrospective increases in duties on the company's
products imported into the company's markets outside of
the United States; and any adverse
results of tax audits or unfavorable changes to tax laws in the
company's various markets; and
- continued competitive pressures in the company's
markets.
The company's financial performance and the forward-looking
statements contained herein are further qualified by a detailed
discussion of associated risks set forth in the documents filed by
the company with the Securities and Exchange Commission. The
forward-looking statements set forth the company's beliefs as of
the date that such information was first provided, and the company
assumes no duty to update the forward-looking statements contained
in this release to reflect any change except as required by
law.
Non-GAAP Financial
Measures: Constant-currency revenue change is a
non-GAAP financial measure that removes the impact of fluctuations
in foreign-currency exchange rates, thereby facilitating
period-to-period comparisons of the company's performance. It is
calculated by translating the current period's revenue at the same
average exchange rates in effect during the applicable prior-year
period and then comparing that amount to the prior-year period's
revenue. The company believes that constant-currency revenue change
is useful to investors, lenders and analysts because such
information enables them to gauge the impact of foreign-currency
fluctuations on the company's revenue from period to
period.
Earnings per share and other income (expense), each excluding
restructuring and impairment charges and/or charges associated with
our Grow Tech exit, also are non-GAAP financial measures.
Restructuring and impairment charges and charges associated with
our Grow Tech exit are not part of the ongoing operations of our
underlying business. The company believes that these non-GAAP
financial measures are useful to investors, lenders and analysts
because removing the impact of restructuring and impairment charges
and charges associated with our Grow Tech exit facilitates
period-to-period comparisons of the company's performance. Please
see the reconciliations of these items to our earnings per share
and other income (expense) calculated under GAAP, below.
The following table sets forth revenue for the three-month
periods ended June 30, 2022 and
2021 for each of our reportable segments (U.S. dollars in
thousands):
|
Three Months
Ended
June
30,
|
|
|
|
Constant- Currency
|
|
2022
|
|
2021
|
|
Change
|
|
Change
|
Nu
Skin
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
$
|
124,445
|
|
$
|
138,512
|
|
|
(10) %
|
|
|
(9) %
|
Mainland
China
|
|
86,808
|
|
|
154,182
|
|
|
(44) %
|
|
|
(42) %
|
Southeast
Asia/Pacific
|
|
94,067
|
|
|
83,968
|
|
|
12 %
|
|
|
16 %
|
South Korea
|
|
69,308
|
|
|
88,604
|
|
|
(22) %
|
|
|
(12) %
|
Japan
|
|
55,952
|
|
|
68,020
|
|
|
(18) %
|
|
|
(3) %
|
EMEA
|
|
50,871
|
|
|
83,115
|
|
|
(39) %
|
|
|
(31) %
|
Hong
Kong/Taiwan
|
|
39,327
|
|
|
38,529
|
|
|
2 %
|
|
|
6 %
|
Nu Skin
other
|
|
1,318
|
|
|
947
|
|
|
39 %
|
|
|
39 %
|
Total Nu
Skin
|
|
522,096
|
|
|
655,877
|
|
|
(20) %
|
|
|
(15) %
|
Rhyz
Investments
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing
|
|
38,229
|
|
|
48,140
|
|
|
(21) %
|
|
|
(21) %
|
Rhyz other
|
|
290
|
|
|
38
|
|
|
663 %
|
|
|
663 %
|
Total Rhyz
Investments
|
|
38,519
|
|
|
48,178
|
|
|
(20) %
|
|
|
(20) %
|
Total
|
$
|
560,615
|
|
$
|
704,055
|
|
|
(20) %
|
|
|
(15) %
|
The following table sets forth revenue for the six-month periods
ended June 30, 2022 and 2021 for
each of our reportable segments (U.S. dollars in thousands):
|
Six Months
Ended
June
30,
|
|
|
|
Constant- Currency
|
|
2022
|
|
2021
|
|
Change
|
|
Change
|
Nu
Skin
|
|
|
|
|
|
|
|
|
|
|
|
Americas
|
$
|
248,025
|
|
$
|
272,273
|
|
|
(9) %
|
|
|
(8) %
|
Mainland
China
|
|
211,303
|
|
|
303,775
|
|
|
(30) %
|
|
|
(31) %
|
Southeast
Asia/Pacific
|
|
184,303
|
|
|
167,257
|
|
|
10 %
|
|
|
14 %
|
South Korea
|
|
141,441
|
|
|
169,735
|
|
|
(17) %
|
|
|
(8) %
|
Japan
|
|
117,743
|
|
|
137,884
|
|
|
(15) %
|
|
|
(3) %
|
EMEA
|
|
103,839
|
|
|
159,295
|
|
|
(35) %
|
|
|
(28) %
|
Hong
Kong/Taiwan
|
|
77,821
|
|
|
74,874
|
|
|
4 %
|
|
|
6 %
|
Nu Skin
other
|
|
1,938
|
|
|
1,825
|
|
|
6 %
|
|
|
6 %
|
Total Nu
Skin
|
|
1,086,413
|
|
|
1,286,918
|
|
|
(16) %
|
|
|
(12) %
|
Rhyz
Investments
|
|
|
|
|
|
|
|
|
|
|
|
Manufacturing
|
|
78,570
|
|
|
94,125
|
|
|
(17) %
|
|
|
(17) %
|
Rhyz other
|
|
531
|
|
|
38
|
|
|
1,297 %
|
|
|
1,297 %
|
Total Rhyz
Investments
|
|
79,101
|
|
|
94,163
|
|
|
(16) %
|
|
|
(16) %
|
Total
|
$
|
1,165,514
|
|
$
|
1,381,081
|
|
|
(16) %
|
|
|
(12) %
|
The following table provides information concerning the number
of Customers, Paid Affiliates and Sales Leaders in our core Nu
Skin business for the three-month periods ended June 30, 2022 and 2021:
|
Three Months
Ended
June
30,
|
|
|
Customers
|
2022
|
|
2021
|
|
Change
|
Americas
|
|
302,849
|
|
|
368,052
|
|
(18) %
|
Mainland
China
|
$
|
392,268
|
|
|
328,526
|
|
19 %
|
Southeast Asia/Pacific
|
|
152,775
|
|
|
165,221
|
|
(8) %
|
South Korea
|
|
135,290
|
|
|
153,282
|
|
(12) %
|
Japan
|
|
122,643
|
|
|
125,734
|
|
(2) %
|
EMEA
|
|
205,379
|
|
|
261,881
|
|
(22) %
|
Hong
Kong/Taiwan
|
|
69,411
|
|
|
64,861
|
|
7 %
|
Total
|
|
1,380,615
|
|
|
1,467,557
|
|
(6) %
|
|
Three Months
Ended
June
30,
|
|
|
Paid
Affiliates
|
2022
|
|
2021
|
|
Change
|
Americas
|
|
44,523
|
|
|
53,492
|
|
(17) %
|
Mainland
China
|
$
|
19,257
|
|
|
39,889
|
|
(52) %
|
Southeast Asia/Pacific
|
|
41,512
|
|
|
44,734
|
|
(7) %
|
South Korea
|
|
48,605
|
|
|
52,680
|
|
(8) %
|
Japan
|
|
38,269
|
|
|
38,623
|
|
(1) %
|
EMEA
|
|
32,323
|
|
|
42,682
|
|
(24) %
|
Hong
Kong/Taiwan
|
|
17,644
|
|
|
17,815
|
|
(1) %
|
Total
|
|
242,133
|
|
|
289,915
|
|
(16) %
|
|
Three Months
Ended
June
30,
|
|
|
Sales
Leaders
|
2022
|
|
2021
|
|
Change
|
Americas
|
|
9,320
|
|
|
11,752
|
|
(21) %
|
Mainland
China
|
$
|
11,458
|
|
|
20,946
|
|
(45) %
|
Southeast Asia/Pacific
|
|
8,407
|
|
|
8,190
|
|
3 %
|
South Korea
|
|
6,557
|
|
|
7,701
|
|
(15) %
|
Japan
|
|
6,097
|
|
|
6,057
|
|
1 %
|
EMEA
|
|
5,192
|
|
|
8,002
|
|
(35) %
|
Hong
Kong/Taiwan
|
|
3,054
|
|
|
3,446
|
|
(11) %
|
Total
|
|
50,085
|
|
|
66,094
|
|
(24) %
|
"Customers" are persons who have purchased directly
from the Company during the three months ended as of the date
indicated. Our Customer numbers include members of our sales force
who made such a purchase, including Paid Affiliates and those who
qualify as Sales Leaders, but they do not include consumers who
purchase products directly from members of our sales force.
"Paid Affiliates" are any Brand Affiliates, as well
as sales employees and independent marketers in Mainland China, who
earned sales compensation during the three-month period. In all of
our markets besides Mainland China, we refer to members of our
independent sales force as "Brand Affiliates" because their primary
role is to promote our brand and products through their personal
social networks.
"Sales Leaders" are the three-month average of our
monthly Brand Affiliates, as well as sales employees and
independent marketers in Mainland China, who had achieved certain
qualification requirements as of the end of each month of the
quarter.
NU SKIN ENTERPRISES,
INC.
Consolidated
Statements of Income (Unaudited)
(U.S. dollars in
thousands, except per share amounts)
|
|
|
Three Months
Ended
June
30,
|
|
Six Months
Ended
June
30,
|
|
2022
|
|
2021
|
|
2022
|
|
2021
|
Revenue
|
$
|
560,615
|
|
$
|
704,055
|
|
$
|
1,165,514
|
|
$
|
1,381,081
|
Cost of
sales
|
|
148,100
|
|
|
171,975
|
|
|
309,599
|
|
|
342,541
|
Gross profit
|
|
412,515
|
|
|
532,080
|
|
|
855,915
|
|
|
1,038,540
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
|
|
Selling
expenses
|
|
219,426
|
|
|
280,589
|
|
|
462,125
|
|
|
556,554
|
General and
administrative expenses
|
|
141,562
|
|
|
166,115
|
|
|
290,118
|
|
|
333,697
|
Total operating
expenses
|
|
360,988
|
|
|
446,704
|
|
|
752,243
|
|
|
890,251
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating
income
|
|
51,527
|
|
|
85,376
|
|
|
103,672
|
|
|
148,289
|
Other income (expense),
net
|
|
(8,640)
|
|
|
(4,012)
|
|
|
(10,093)
|
|
|
(2,430)
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before provision
for income taxes
|
|
42,887
|
|
|
81,364
|
|
|
93,579
|
|
|
145,859
|
Provision for income
taxes
|
|
8,650
|
|
|
22,026
|
|
|
20,626
|
|
|
39,091
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
$
|
34,237
|
|
$
|
59,338
|
|
$
|
72,953
|
|
$
|
106,768
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income per
share:
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
$
|
0.68
|
|
$
|
1.18
|
|
$
|
1.45
|
|
$
|
2.12
|
Diluted
|
$
|
0.67
|
|
$
|
1.15
|
|
$
|
1.43
|
|
$
|
2.06
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common
shares outstanding (000s):
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
50,368
|
|
|
50,115
|
|
|
50,181
|
|
|
50,409
|
Diluted
|
|
50,960
|
|
|
51,557
|
|
|
50,959
|
|
|
51,850
|
NU SKIN ENTERPRISES,
INC.
Consolidated Balance
Sheets (Unaudited)
(U.S. dollars in
thousands)
|
|
|
June
30,
2022
|
|
December
31,
2021
|
ASSETS
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
|
363,923
|
|
$
|
339,593
|
Current
investments
|
|
17,877
|
|
|
15,221
|
Accounts
receivable, net
|
|
43,694
|
|
|
41,299
|
Inventories,
net
|
|
354,211
|
|
|
399,931
|
Prepaid expenses and
other
|
|
103,188
|
|
|
76,906
|
Total current
assets
|
|
882,893
|
|
|
872,950
|
|
|
|
|
|
|
Property and equipment,
net
|
|
443,036
|
|
|
453,674
|
Operating lease
right-of-use assets
|
|
118,413
|
|
|
120,973
|
Goodwill
|
|
206,432
|
|
|
206,432
|
Other intangible
assets, net
|
|
72,665
|
|
|
76,991
|
Other assets
|
|
177,462
|
|
|
175,460
|
Total
assets
|
$
|
1,900,901
|
|
$
|
1,906,480
|
|
|
|
|
|
|
LIABILITIES AND
STOCKHOLDERS' EQUITY
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
Accounts
payable
|
$
|
55,013
|
|
$
|
49,993
|
Accrued
expenses
|
|
289,130
|
|
|
372,201
|
Current portion of
long-term debt
|
|
40,000
|
|
|
107,500
|
Total current
liabilities
|
|
384,143
|
|
|
529,694
|
|
|
|
|
|
|
Operating lease
liabilities
|
|
90,156
|
|
|
88,759
|
Long-term
debt
|
|
387,179
|
|
|
268,781
|
Other
liabilities
|
|
98,388
|
|
|
106,474
|
Total
liabilities
|
|
959,866
|
|
|
993,708
|
|
|
|
|
|
|
Commitments and
contingencies
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders'
equity:
|
|
|
|
|
|
Class A common stock
– 500 million shares authorized, $0.001 par
value, 90.6 million shares issued
|
|
91
|
|
|
91
|
Additional paid-in
capital
|
|
606,349
|
|
|
601,703
|
Treasury stock, at
cost – 39.9 million and 40.7 million
shares
|
|
(1,520,769)
|
|
|
(1,526,860)
|
Accumulated other
comprehensive loss
|
|
(90,638)
|
|
|
(73,896)
|
Retained
earnings
|
|
1,946,002
|
|
|
1,911,734
|
Total stockholders'
equity
|
|
941,035
|
|
|
912,772
|
Total liabilities and
stockholders' equity
|
$
|
1,900,901
|
|
$
|
1,906,480
|
NU SKIN ENTERPRISES,
INC.
Reconciliation of
Earnings Per Share Excluding Charges Associated with Our Q4 2021
Exit from Grow Tech to GAAP Earnings Per Share
(in thousands, except
per share amounts)
|
|
|
Three Months
Ended
June 30, 2022
|
|
|
|
|
|
|
|
Net income
|
$
34,237
|
|
|
Impact of charges
associated with our Q4 2021 exit from Grow Tech:
|
|
|
|
Unrealized investment loss
|
5,711
|
|
|
Income tax
impact
|
(459)
|
|
|
Adjusted net
income
|
$
39,489
|
|
|
|
|
|
|
Diluted earnings per
share
|
$
0.67
|
|
|
Diluted earnings per
share, excluding charges associated with our Q4 2021 exit from Grow
Tech
|
$
0.77
|
|
|
|
|
|
|
Weighted-average common
shares outstanding (000s):
|
50,960
|
|
|
NU SKIN ENTERPRISES,
INC.
Reconciliation of
Other Income (Expense), Net Excluding Charges Associated with Our
Q4 2021 Exit from Grow Tech to GAAP Other Income (Expense),
Net
(in
thousands)
|
|
|
Three Months
Ended
June 30, 2022
|
|
|
|
|
|
|
|
Other income (expense),
net
|
$
(8,640)
|
|
|
Impact of charges
associated with our Q4 2021 exit from Grow Tech:
|
|
|
|
Unrealized
investment loss
|
5,711
|
|
|
Adjusted Other income
(expense), net
|
$
(2,929)
|
|
|
|
|
|
|
NU SKIN ENTERPRISES,
INC.
Reconciliation of
Earnings Per Share Excluding Certain Charges to GAAP Earnings Per
Share
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
September 30,
2022
|
|
December 31,
2022
|
|
Low
End
|
|
High
End
|
|
Low
End
|
|
High
End
|
|
|
|
|
|
|
|
|
Earnings per
share
|
$
0.04
|
|
$
0.22
|
|
$
2.46
|
|
$
2.76
|
Impact of charges
associated with our second half restructuring and impairment
charges:
|
|
|
|
|
|
|
|
Restructuring and Impairment
|
0.59
|
|
0.59
|
|
0.88
|
|
0.88
|
Income tax
impact
|
0.07
|
|
0.04
|
|
(0.13)
|
|
(0.13)
|
Impact of charges
associated with our Q4 2021 exit from Grow Tech:
|
|
|
|
|
|
|
|
Unrealized
investment loss
|
—
|
|
—
|
|
0.11
|
|
0.11
|
Income tax
impact
|
—
|
|
—
|
|
(0.02)
|
|
(0.02)
|
Adjusted Earnings per
share
|
$
0.70
|
|
$
0.85
|
|
$
3.30
|
|
$
3.60
|
|
|
|
|
|
|
|
|
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SOURCE Nu Skin Enterprises