Full Press Release Details
Nu Skin Enterprises Reports Fourth Quarter and 2022 Financial Results
Company Provides Initial Outlook for Q1 and FY 2023
PROVO, Utah - Feb. 15, 2023 - Nu Skin Enterprises,
Inc. (NYSE: NUS) today announced fourth quarter and full year 2022 results.
Q4 2022 vs. Prior-year Quarter
| Revenue: | $522.3 million; (22)% (7)% FX impact or $(51) million | ||
| Earnings Per Share (EPS): | $1.15 or $0.89 excluding restructuring and impairment charges associated with the company's strategic resource reallocation and a recent IRS - approved favorable tax method change, compared to $(0.18) or $1.11 excluding restructuring and impairment charges in Q4 2021 | ||
| Customers: | 1,147,124; (16)% | ||
| Paid Affiliates: | 236,956; (13)% | ||
| Sales Leaders: | 48,737; (21)% |
| Revenue: | $2.23 billion; (17)% (5)% FX impact or $(150) million | ||
| Earnings Per Share (EPS): | $2.07 or $2.90 excluding restructuring and impairment charges and a tax method change, compared to $2.86 or $4.14 excluding restructuring and impairment charges |
"We made steady progress toward our Nu Vision 2025 strategy, despite persistent macro-economic challenges, which primarily included COVID-related disruptions in Mainland
China, global inflation and foreign currency headwinds," said Ryan Napierski, Nu Skin president and CEO. "We achieved several key milestones during 2022 including the introduction of our first connected device, ageLOC LumiSpa iO, further
strengthening our position as the world's leading beauty device system brand; the rollout of our Vera and Stela apps in all markets, which provide increased consumer and affiliate engagement; and steady advancements with our social commerce model.
While we saw our sales channel contract primarily due to macroeconomic factors, we drove annual revenue growth of 4 percent in the U.S. and 2 percent in Southeast Asia/Pacific. Japan and Hong Kong/Taiwan also grew in constant currency, while reported
revenue was down due to FX headwinds.
"Looking ahead, while the macro-environment remains uncertain, we expect it to steadily improve throughout the year. We remain confident in our Nu Vision 2025 strategy to
help drive long-term growth and increase shareholder value, which we will update on our earnings call today. During the year, we will be advancing our EmpowerMe personalized beauty and wellness strategy by introducing our body iO smart, connected
device system and rolling out our TRMe weight management line. We will also continue to enhance our Vera and Stela apps with additional capabilities, features and improvements to streamline the overall user experience. In addition, as we continue to
expand our affiliate-powered social commerce model, we will focus on stabilizing performance in more challenged regions and leveraging best practices from our markets that are further along in their social commerce transition. Lastly, as we navigate
the year ahead, we will continue to be conservative in our guidance and prudent in our cost management while we invest in our future."
Q4 2022 Year-over-year Operating Results
| Revenue: | $522.3 million compared to $673.4 million (7)% FX impact or $(51) million | ||
| Gross Margin: | 71.7% compared to 74.2% or 75.2% excluding restructuring and impairment charges in Q4 2021 Impacted by geographic footprint, foreign currency and global inflationary pressures Nu Skin business was 74.9% compared to 77.9% | ||
| Selling Expenses: | 38.5% compared to 39.1% Nu Skin business was 40.5% compared to 41.4% | ||
| G&A Expenses: | 24.4% compared to 24.4% | ||
| Operating Margin: | 5.3% or 8.8% excluding restructuring and impairment charges, compared to 3.0% or 11.7% excluding restructuring and impairment charges | ||
| Other Income / (Expense): | $(3.1) million compared to $(1.9) million | ||
| Income Tax Rate: | (134.9)% or (3.7)% excluding restructuring and impairment charges and a recent IRS-approved favorable tax method change, compared to 150.1% or 26.9% excluding restructuring and impairment charges | ||
| EPS: | $1.15 or $0.89 excluding restructuring and impairment charges and a tax method change, compared to $(0.18) or $1.11 excluding restructuring and impairment charges |
| Dividend Payments: | $19.0 million | ||
| Stock Repurchases: | $10.0 million $175.4 million remaining in authorization |
Q1 and Full-year 2023 Outlook
| Q1 2023 Revenue: | $450 to $490 million; (26) to (19)% Approximately (6) to (5)% FX impact | ||
| Q1 2023 EPS: | $0.17 to $0.27 or $0.25 to $0.35 non-GAAP | ||
| 2023 Revenue: | $2.03 to $2.18 billion; (9)% to (2)% Approximately (2) to (1)% FX impact | ||
| 2023 EPS: | $2.27 to $2.67 or $2.35 to $2.75 non-GAAP |
"Our initial 2023 guidance assumes the global macro environment remains challenging in the near-term, improving throughout the year," said Mark
Lawrence, chief financial officer. "Our annual revenue guidance is $2.03 to $2.18 billion, with an approximate 1 to 2 percent foreign currency headwind. We anticipate reported EPS of $2.27 to $2.67 or $2.35 to $2.75 excluding charges associated
with a modest amount of 2023 restructuring. For the first quarter, we project revenue of $450 to $490 million, assuming a negative foreign currency impact of approximately 5 to 6 percent, with reported earnings per share of $0.17 to $0.27 or $0.25
to $0.35 when excluding an anticipated first-quarter restructuring and impairment charge of $5 to $10 million."
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 March 1, 2023.
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 nearly 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 macro-environment and the company's performance, growth, shareholder value, financial position, 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," "continue," "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:
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, gross margin, operating margin, and income tax rate, each excluding restructuring and impairment charges and/or tax method
changes, also are non-GAAP financial measures. Restructuring and impairment charges and tax method changes 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 tax method changes 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 December 31, 2022 and 2021 for each of our reportable segments (U.S. dollars in thousands):
| Three Months Ended December 31, | Constant- Currency | |||||||||||||||
| 2022 | 2021 | Change | Change | |||||||||||||
| Nu Skin | ||||||||||||||||
| Americas | $ | 128,921 | $ | 144,000 | (10) | % | (7) | % | ||||||||
| Mainland China | 73,935 | 130,708 | (43) | % | (37) | % | ||||||||||
| Southeast Asia/Pacific | 76,606 | 90,313 | (15) | % | (8) | % | ||||||||||
| South Korea | 60,029 | 92,528 | (35) | % | (26) | % | ||||||||||
| Japan | 53,877 | 63,215 | (15) | % | 6 | % | ||||||||||
| EMEA | 55,337 | 68,066 | (19) | % | (9) | % | ||||||||||
| Hong Kong/Taiwan | 39,789 | 47,816 | (17) | % | (10) | % | ||||||||||
| Nu Skin other | 1,525 | 156 | 878 | % | 876 | % | ||||||||||
| Total Nu Skin | 490,019 | 636,802 | (23) | % | (15) | % | ||||||||||
| Rhyz Investments | ||||||||||||||||
| Manufacturing | 29,560 | 36,360 | (19) | % | (19) | % | ||||||||||
| Rhyz other | 2,761 | 274 | 908 | % | 908 | % | ||||||||||
| Total Rhyz Investments | 32,321 | 36,634 | (12) | % | (12) | % | ||||||||||
| Total | $ | 522,340 | $ | 673,436 | (22) | % | (15) | % |
The following table sets forth revenue for the years ended December 31, 2022 and 2021 for each of our reportable segments (U.S. dollars in thousands):
| Year Ended December 31, | Constant- Currency | |||||||||||||||
| 2022 | 2021 | Change | Change | |||||||||||||
| Nu Skin | ||||||||||||||||
| Americas | $ | 508,537 | $ | 547,755 | (7) | % | (5) | % | ||||||||
| Mainland China | 360,389 | 568,774 | (37) | % | (35) | % | ||||||||||
| Southeast Asia/Pacific | 344,411 | 336,651 | 2 | % | 7 | % | ||||||||||
| South Korea | 268,707 | 354,252 | (24) | % | (15) | % | ||||||||||
| Japan | 224,896 | 266,216 | (16) | % | - | |||||||||||
| EMEA | 204,275 | 283,200 | (28) | % | (19) | % | ||||||||||
| Hong Kong/Taiwan | 157,197 | 162,611 | (3) | % | 1 | % | ||||||||||
| Nu Skin other | 3,959 | 3,653 | 8 | % | 8 | % | ||||||||||
| Total Nu Skin | 2,072,371 | 2,523,112 | (18) | % | (12) | % | ||||||||||
| Rhyz Investments | ||||||||||||||||
| Manufacturing | 149,458 | 172,120 | (13) | % | (13) | % | ||||||||||
| Rhyz other | 3,830 | 437 | 776 | % | 776 | % | ||||||||||
| Total Rhyz Investments | 153,288 | 172,557 | (11) | % | (11) | % | ||||||||||
| Total | $ | 2,225,659 | $ | 2,695,669 | (17) | % | (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 December 31, 2022 and 2021:
| Three Months Ended December 31, | ||||||||||||
| Customers | 2022 | 2021 | Change | |||||||||
| Americas | 299,287 | 336,564 | (11) | % | ||||||||
| Mainland China | 202,933 | 315,418 | (36) | % | ||||||||
| Southeast Asia/Pacific | 141,183 | 169,601 | (17) | % | ||||||||
| South Korea | 123,749 | 146,354 | (15) | % | ||||||||
| Japan | 119,152 | 122,813 | (3) | % | ||||||||
| EMEA | 197,917 | 210,414 | (6) | % | ||||||||
| Hong Kong/Taiwan | 62,903 | 66,395 | (5) | % | ||||||||
| Total | 1,147,124 | 1,367,559 | (16) | % |
| Three Months Ended December 31, | ||||||||||||
| Paid Affiliates | 2022 | 2021 | Change | |||||||||
| Americas | 42,633 | 49,328 | (14) | % | ||||||||
| Mainland China | 23,436 | 30,546 | (23) | % | ||||||||
| Southeast Asia/Pacific | 38,653 | 44,050 | (12) | % | ||||||||
| South Korea | 45,058 | 52,036 | (13) | % | ||||||||
| Japan | 38,021 | 38,428 | (1) | % | ||||||||
| EMEA | 31,869 | 36,482 | (13) | % | ||||||||
| Hong Kong/Taiwan | 17,286 | 20,155 | (14) | % | ||||||||
| Total | 236,956 | 271,025 | (13) | % |
| Three Months Ended December 31, | ||||||||||||
| Sales Leaders | 2022 | 2021 | Change | |||||||||
| Americas | 9,594 | 10,879 | (12) | % | ||||||||
| Mainland China (1) | 12,359 | 18,207 | (32) | % | ||||||||
| Southeast Asia/Pacific | 6,999 | 8,800 | (20) | % | ||||||||
| South Korea | 6,094 | 8,224 | (26) | % | ||||||||
| Japan | 5,936 | 5,864 | 1 | % | ||||||||
| EMEA | 4,740 | 5,743 | (17 | )% | ||||||||
| Hong Kong/Taiwan | 3,015 | 3,666 | (18) | % | ||||||||
| Total | 48,737 | 61,383 | (21) | % |
(1) The December 31, 2022 number reflects a modified Sales Leader definition, as described in our annual report on form 10-K.
NU SKIN ENTERPRISES, INC.
Consolidated Statements of Income (Unaudited)
(U.S. dollars in thousands, except per share amounts)
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Revenue | $ | 522,340 | $ | 673,436 | $ | 2,225,659 | $ | 2,695,669 | ||||||||
| Cost of sales | 147,816 | 173,775 | 630,915 | 675,223 | ||||||||||||
| Gross profit | 374,524 | 499,661 | 1,594,744 | 2,020,446 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Selling expenses | 201,031 | 263,265 | 879,634 | 1,080,153 | ||||||||||||
| General and administrative expenses | 127,664 | 164,206 | 555,769 | 654,431 | ||||||||||||
| Restructuring and impairment expenses | 18,370 | 51,870 | 48,494 | 51,870 | ||||||||||||
| Total operating expenses | 347,065 | 479,341 | 1,483,897 | 1,786,454 | ||||||||||||
| Operating income (loss) | 27,459 | 20,320 | 110,847 | 233,992 | ||||||||||||
| Other income (expense), net | (3,104 | ) | (1,884 | ) | (21,877 | ) | (1,533 | ) | ||||||||
| Income before provision for income taxes | 24,355 | 18,436 | 88,970 | 232,459 | ||||||||||||
| Provision (benefit) for income taxes | (32,860 | ) | 27,666 | (15,808 | ) | 85,193 | ||||||||||
| Net income (loss) | $ | 57,215 | $ | (9,230 | ) | $ | 104,778 | $ | 147,266 | |||||||
| Net income (loss) per share: | ||||||||||||||||
| Basic | $ | 1.16 | $ | (0.19 | ) | $ | 2.10 | $ | 2.93 | |||||||
| Diluted | $ | 1.15 | $ | (0.18 | ) | $ | 2.07 | $ | 2.86 | |||||||
| Weighted-average common shares outstanding (000s): | ||||||||||||||||
| Basic | 49,452 | 49,862 | 50,002 | 50,193 | ||||||||||||
| Diluted | 49,783 | 50,801 | 50,525 | 51,427 |
NU SKIN ENTERPRISES, INC.
Consolidated Balance Sheets (Unaudited)
(U.S. dollars in thousands)
| December 31, 2022 | December 31, 2021 | |||||||
| ASSETS | ||||||||
| Current assets: | ||||||||
| Cash and cash equivalents | $ | 264,725 | $ | 339,593 | ||||
| Current investments | 13,784 | 15,221 | ||||||
| Accounts receivable, net | 47,360 | 41,299 | ||||||
| Inventories, net | 346,183 | 399,931 | ||||||
| Prepaid expenses and other | 87,816 | 76,906 | ||||||
| Total current assets | 759,868 | 872,950 | ||||||
| Property and equipment, net | 444,806 | 453,674 | ||||||
| Operating lease right-of-use assets | 98,734 | 120,973 | ||||||
| Goodwill | 206,432 | 206,432 | ||||||
| Other intangible assets, net | 66,701 | 76,991 | ||||||
| Other assets | 244,429 | 175,460 | ||||||
| Total assets | $ | 1,820,970 | $ | 1,906,480 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current liabilities: | ||||||||
| Accounts payable | $ | 53,963 | $ | 49,993 | ||||
| Accrued expenses | 280,280 | 372,201 | ||||||
| Current portion of long-term debt | 25,000 | 107,500 | ||||||
| Total current liabilities | 359,243 | 529,694 | ||||||
| Operating lease liabilities | 76,540 | 88,759 | ||||||
| Long-term debt | 377,466 | 268,781 | ||||||
| Other liabilities | 110,425 | 106,474 | ||||||
| Total liabilities | 923,674 | 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 | 613,278 | 601,703 | ||||||
| Treasury stock, at cost - 41.1 million and 40.7 million shares | (1,569,061 | ) | (1,526,860 | ) | ||||
| Accumulated other comprehensive loss | (86,509 | ) | (73,896 | ) | ||||
| Retained earnings | 1,939,497 | 1,911,734 | ||||||
| Total stockholders' equity | 897,296 | 912,772 | ||||||
| Total liabilities and stockholders' equity | $ | $1,820,970 | $ | 1,906,480 |
NU SKIN ENTERPRISES, INC.
Reconciliation of Gross Margin Excluding Impact of Restructuring and Impairment to GAAP Gross Margin
(in thousands, except for per share amounts)
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Gross profit | $ | 374,524 | $ | 499,661 | $ | 1,594,744 | $ | 2,020,446 | ||||||||
| Impact of restructuring and impairment: | ||||||||||||||||
| Inventory write-off | - | 6,656 | 26,905 | 6,656 | ||||||||||||
| Adjusted gross profit | $ | 374,524 | $ | 506,317 | $ | 1,621,649 | $ | 2,027,102 | ||||||||
| Gross margin | 71.7 | % | 74.2 | % | 71.7 | % | 75.0 | % | ||||||||
| Gross margin, excluding restructuring impact | 71.7 | % | 75.2 | % | 72.9 | % | 75.2 | % | ||||||||
| Revenue | $ | 522,340 | $ | 673,436 | $ | 2,225,659 | $ | 2,695,669 |
NU SKIN ENTERPRISES, INC.
Reconciliation of Operating Margin Excluding Impact of Restructuring and Impairment to GAAP Operating Margin
(in thousands, except for per share amounts)
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Operating Income | $ | 27,459 | $ | 20,320 | $ | 110,847 | $ | 233,992 | ||||||||
| Impact of restructuring and impairment: | ||||||||||||||||
| Restructuring and impairment | 18,369 | 51,870 | 48,493 | 51,870 | ||||||||||||
| Inventory write-off | - | 6,656 | 26,905 | 6,656 | ||||||||||||
| Adjusted operating income | $ | 45,828 | $ | 78,846 | $ | 186,245 | $ | 292,518 | ||||||||
| Operating margin | 5.3 | % | 3.0 | % | 5.0 | % | 8.7 | % | ||||||||
| Operating margin, excluding restructuring impact | 8.8 | % | 11.7 | % | 8.4 | % | 10.9 | % | ||||||||
| Revenue | $ | 522,340 | $ | 673,436 | $ | 2,225,659 | $ | 2,695,669 |
NU SKIN ENTERPRISES, INC.
Reconciliation of Effective Tax Rate Excluding Impact of Restructuring to GAAP Effective Tax Rate
(in thousands, except for per share amounts)
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Provision (benefit) for income taxes | $ | (32,860 | ) | $ | 27,666 | $ | (15,808 | ) | $ | 85,193 | ||||||
| Impact of restructuring on provision for income taxes | (903 | ) | (6,933 | ) | 10,651 | (6,933 | ) | |||||||||
| Impact of Tax Changes | 32,187 | - | 32,187 | - | ||||||||||||
| Provision for income taxes, excluding impact of restructuring | $ | (1,576 | ) | $ | 20,733 | $ | 27,030 | $ | 78,260 | |||||||
| Income before provision for income taxes | 24,355 | 18,436 | 88,970 | 232,459 | ||||||||||||
| Impact of restructuring and impairment expense: | ||||||||||||||||
| Inventory write-off | - | 6,656 | 26,905 | 6,656 | ||||||||||||
| Restructuring and impairment | 18,369 | 51,870 | 48,493 | 51,870 | ||||||||||||
| Impact of charges associated with our Q4 exit from Grow Tech: | ||||||||||||||||
| Unrealized investment loss | - | - | 9,009 | - | ||||||||||||
| Income before provision for income taxes, excluding impact of restructuring | $ | 42,724 | $ | 76,962 | $ | 173,377 | $ | 290,985 | ||||||||
| Effective tax rate | -134.9 | % | 150.1 | % | -17.8 | % | 36.6 | % | ||||||||
| Effective tax rate, excluding restructuring impact | -3.7 | % | 26.9 | % | 15.6 | % | 26.9 | % |
NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Restructuring to GAAP Earnings Per Share
(in thousands, except for per share amounts)
| Three months ended December 31, | Year ended December 31, | |||||||||||||||
| 2022 | 2021 | 2022 | 2021 | |||||||||||||
| Net income | $ | 57,215 | $ | (9,230 | ) | $ | 104,778 | $ | 147,266 | |||||||
| Impact of restructuring and impairment expense: | ||||||||||||||||
| Restructuring and impairment | 18,369 | 51,870 | 48,493 | 51,870 | ||||||||||||
| Cost of sales - Restructuring | - | 6,656 | 26,905 | 6,656 | ||||||||||||
| Tax impact | 903 | 6,933 | (9,566 | ) | 6,933 | |||||||||||
| Impact of charges associated with our Q4 exit from Grow Tech: | ||||||||||||||||
| Unrealized loss on investment | - | - | 9,009 | - | ||||||||||||
| Tax impact | - | - | (1,085 | ) | - | |||||||||||
| Tax impact from method change | (32,187 | ) | - | (32,187 | ) | - | ||||||||||
| Adjusted net income | $ | 44,300 | $ | 56,229 | $ | 146,347 | $ | 212,725 | ||||||||
| Diluted earnings per share | $ | 1.15 | $ | (0.18 | ) | $ | 2.07 | $ | 2.86 | |||||||
| Diluted earnings per share, excluding restructuring impact | $ | 0.89 | $ | 1.11 | $ | 2.90 | $ | 4.14 | ||||||||
| Weighted-average common shares outstanding (000): | 49,783 | 50,801 | 50,525 | 51,427 |
NU SKIN ENTERPRISES, INC.
Reconciliation of Earnings Per Share Excluding Impact of Restructuring to GAAP Earnings Per Share
| Three months ended March 31, | Year ended December 31, | |||||||||||||||
| 2023 - Low- end | 2023 High- end | 2023 - Low- end | 2023 High- end | |||||||||||||
| Earnings Per Share | $ | 0.17 | $ | 0.27 | $ | 2.27 | $ | 2.67 | ||||||||
| Impact of restructuring and impairment expense: | ||||||||||||||||
| Restructuring and impairment | 0.10 | 0.10 | 0.10 | 0.10 | ||||||||||||
| Tax impact | (0.02 | ) | (0.02 | ) | (0.02 | ) | (0.02 | ) | ||||||||
| Adjusted EPS | $ | 0.25 | $ | 0.35 | $ | 2.35 | $ | 2.75 |
Media: media@nuskin.com, (801) 345-6397
Investors: investorrelations@nuskin.com, (801) 345-3577