NU SKIN ENTERPRISES, INC. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>NU SKIN ENTERPRISES, INC. filed its Q1 2024 10-Q report detailing financial performance and company information.</b>

AI Summary

NU SKIN ENTERPRISES, INC. (NUS) filed a Quarterly Report (10-Q) with the SEC on May 9, 2024. NU SKIN ENTERPRISES, INC. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's principal business address is 75 WEST CENTER ST, PROVO, UT 84601. The company was incorporated in Delaware. The filing includes financial data for periods ending March 31, 2024, December 31, 2023, and March 31, 2023.

Why It Matters

For investors and stakeholders tracking NU SKIN ENTERPRISES, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial performance data for NU SKIN ENTERPRISES, INC., crucial for assessing the company's current health and future prospects. The detailed financial statements and disclosures within the 10-Q allow stakeholders to understand the company's operational results, balance sheet, and cash flows for the first quarter of 2024.

Risk Assessment

Risk Level: medium — NU SKIN ENTERPRISES, INC. shows moderate risk based on this filing. The company's financial performance and strategic initiatives, as detailed in this 10-Q, are subject to market dynamics and operational execution risks inherent in the direct selling industry.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis in the 10-Q to understand NU SKIN ENTERPRISES, INC.'s Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period of Report (CONFORMED PERIOD OF REPORT)
• 2024-05-09 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Q1 2024)
• 2024-03-31 — Quarter End Date (Q1 2024)

Key Players & Entities

• NU SKIN ENTERPRISES, INC. (company) — FILER
• GREGORY BELLISTON (person) — BUSINESS ADDRESS
• PROVO (company) — BUSINESS ADDRESS CITY
• UT (company) — BUSINESS ADDRESS STATE
• DE (company) — STATE OF INCORPORATION

FAQ

Risk Factors

• Financial Performance [medium — financial]: The filing details the company's financial performance for the quarter, including revenue, expenses, and net income.
• Market Conditions [medium — market]: The company operates in a dynamic global market, subject to changing consumer preferences and competitive pressures.
• Operational Execution [medium — operational]: Success depends on effective execution of sales strategies and supply chain management in various international markets.

Key Dates

• 2024-03-31: Quarter End Date — End of the reporting period for the 10-Q.
• 2024-05-09: Filing Date — Date the 10-Q was officially filed with the SEC.

Filing Documents

• ef20026282_10q.htm (10-Q) — 1406KB
• ef20026282_ex10-1.htm (EX-10.1) — 46KB
• ef20026282_ex31-1.htm (EX-31.1) — 11KB
• ef20026282_ex31-2.htm (EX-31.2) — 11KB
• ef20026282_ex32-1.htm (EX-32.1) — 4KB
• ef20026282_ex32-2.htm (EX-32.2) — 4KB
• 0001140361-24-025012.txt (&nbsp;) — 7596KB
• nus-20240331.xsd (EX-101.SCH) — 43KB
• nus-20240331_cal.xml (EX-101.CAL) — 60KB
• nus-20240331_def.xml (EX-101.DEF) — 284KB
• nus-20240331_lab.xml (EX-101.LAB) — 700KB
• nus-20240331_pre.xml (EX-101.PRE) — 455KB
• ef20026282_10q_htm.xml (XML) — 1285KB

Financial Statements (Unaudited)

Financial Statements (Unaudited): Consolidated Balance Sheets 1 Consolidated Statements of Income 2 Consolidated Statements of Comprehensive Income 3 Consolidated Statements of Stockholders' Equity 4 Consolidated Statements of Cash Flows 5

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 27 Item 4.

Controls and Procedures

Controls and Procedures 27 Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29 Signature 30 In this Quarterly Report on Form 10-Q, references to "dollars" and "

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS NU SKIN ENTERPRISES, INC. Consolidated Balance Sheets (Unaudited) (U.S. dollars in thousands) March 31, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 212,532 $ 256,057 Current investments 8,674 11,759 Accounts receivable, net 67,041 72,879 Inventories, net 265,100 279,978 Prepaid expenses and other 93,913 81,198 Total current assets 647,260 701,871 Property and equipment, net 422,818 432,965 Operating lease right-of-use assets 93,092 90,107 Goodwill 230,768 230,768 Other intangible assets, net 101,933 105,309 Other assets 246,044 245,443 Total assets $ 1,741,915 $ 1,806,463 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 32,237 $ 43,505 Accrued expenses 247,068 260,366 Current portion of long-term debt 30,000 25,000 Total current liabilities 309,305 328,871 Operating lease liabilities 74,198 70,943 Long-term debt 453,183 478,040 Other liabilities 95,023 106,641 Total liabilities 931,709 984,495 Commitments and contingencies (Notes 5 and 11) 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 618,706 621,853 Treasury stock, at cost – 40.9 million and 41.1 million shares ( 1,564,942 ) ( 1,570,440 ) Accumulated other comprehensive loss ( 110,607 ) ( 100,006 ) Retained earnings 1,866,958 1,870,470 Total stockholders' equity 810,206 821,968 Total liabilities and stockholders' equ ity $ 1,741,915 $ 1,806,463 The accompanying notes are an integral part of these consolidated financial statements. 1 Table of Contents NU SKIN ENTERPRISES, INC. Consolidated (U.S. dollars in thousands, except per share amounts) Three Months Ended March 31 , 2024 2023 Revenue $ 417,306 $ 481,462 Cost of sa

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 1. The Company Nu Skin Enterprises, Inc. (the "Company") is a holding company, with Nu Skin being the primary operating unit. Nu Skin develops and distributes premium-quality, innovative beauty and wellness products that are sold worldwide under the Nu Skin, Pharmanex and ageLOC brands and a small number of other products and services. The Company reports revenue from nine segments, consisting of its seven geographic Nu Skin segments —Americas, which includes Canada, Latin America and the United States; Mainland China; Southeast Asia/Pacific, which includes Indonesia, Malaysia, the Philippines, Singapore, Thailand , Vietnam , Australia, New Zealand, and other markets; Japan; Europe and Africa, which includes markets in Europe as well as South Africa; South Korea; and Hong Kong/Taiwan, which also includes Macau—and two Rhyz segments—Manufacturing, which includes manufacturing and packaging subsidiaries it has acquired; and Rhyz other, which includes other investments by its Rhyz business arm (the Company's subsidiaries operating within each segment are collectively referred to as the "Subsidiaries"). 2. Summary of Significant Accounting Policies The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. The unaudited consolidated financial statements include the accounts of the Company and its Subsidiaries. All intercompany accounts and transactions are eliminated in consolidation. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments, consisting of normal recurring adjustments, considered necessary for

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View this 10-Q filing on SEC EDGAR