Nu Skin Enterprises, Inc. announced its financial results for the second quarter of 2021, indicating a 15% increase in sales over the same period last year. The company’s total revenue for the quarter was $704.1 million, with profits per share (EPS) up 42 percent to $1.15.
Ritch Wood, Chief Executive Officer, said, “Our growth and performance this quarter and over the previous year reflect our approach of producing world-class beauty and wellness products, being customer-oriented, and digitally enabling our business.” “Continued growth in our beauty device systems, as well as increased adoption of social commerce, drove our results. In addition, we increased profitability considerably throughout the quarter, resulting in excellent profits per share growth. We’ve laid a strong foundation, and I’m confident in Ryan and our leadership team to expand on it and take Nu Skin to the next level.”
The number of sales leaders in the firm climbed by 15% to 64,228, while client numbers increased by 2% to 1,467,617.
“Powered by our dynamic affiliate opportunity platform, we continue to develop our ambition of being the world’s top beauty and wellness company,” said Ryan Napierski, President and CEO-elect. “We strengthened our position as the market leader in beauty device systems during the quarter, as our newest device system, ageLOC Boost, gained traction with a solid launch in EMEA. We’re also happy with the launch of Nutricentials Bioadaptives, which is aimed towards millennials and Generation Z. We’ll start rolling out Beauty Focus Collagen+ in the second part of the year, using our unique expertise in both beauty and wellness, as well as ageLOC Meta, our next major Pharmanex product launch. We are happy with a 15% increase in sales leaders, despite a little drop in customers owing to a big increase the previous year. We’ll be releasing more digital solutions in the coming quarters to help our affiliates with client acquisition, such as tailored social commerce stores in Mainland China. This is a big step forward for us in terms of implementing our digital technologies in the world’s biggest social commerce market.”
Revenue of $700-$730 million is projected in the third quarter, with $2.81 to $2.87 billion expected for the full year. The company expects third-quarter earnings per share to be in the range of $1.10 to $1.20, and full-year earnings per share to be between $4.30 and $4.50.
“As a consequence of ongoing expenditure management and supply chain efficiency, we generated 42 percent EPS growth,” Mark Lawrence, Chief Financial Officer, stated.
About Nu Skin Enterprises, Inc.
Nu Skin Enterprises, Inc. (NSE) has been empowering creative enterprises with sustainable solutions, opportunities, technology, and life-improving values for over 35 years. Currently, the company’s efforts are focused on developing new consumer items, product manufacturing, and controlled environment agriculture technologies.