Natures Sunshine Products Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Natures Sunshine Products Inc. has filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial activities and corporate information.</b>

AI Summary

NATURES SUNSHINE PRODUCTS INC (NATR) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Natures Sunshine Products Inc. filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. The company's fiscal year ends on December 31. Natures Sunshine Products Inc. is incorporated in Utah. The company's SIC code is 2834 (Pharmaceutical Preparations).

Why It Matters

For investors and stakeholders tracking NATURES SUNSHINE PRODUCTS INC, this filing contains several important signals. This filing provides investors and analysts with the latest financial performance and operational status of Natures Sunshine Products Inc. for the first quarter of 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, strategic direction, and potential risks moving forward.

Risk Assessment

Risk Level: low — NATURES SUNSHINE PRODUCTS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial shifts or negative disclosures that would elevate the risk level.

Analyst Insight

Monitor future 10-Q filings for revenue growth, net income trends, and any changes in debt levels to assess the company's financial trajectory.

Key Numbers

• 2024-03-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-05-07 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Reporting Period)
• 2023-01-01 — Prior Year Quarter Start Date (Reporting Period)
• 2023-03-31 — Prior Year Quarter End Date (Reporting Period)

Key Players & Entities

• NATURES SUNSHINE PRODUCTS INC (company) — FILER
• 0000275053 (company) — CENTRAL INDEX KEY
• 2834 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• UT (company) — STATE OF INCORPORATION
• 1231 (company) — FISCAL YEAR END
• 20240331 (date) — CONFORMED PERIOD OF REPORT
• 20240507 (date) — FILED AS OF DATE
• NATR (company) — Ticker Symbol

FAQ

Industry Context

Natures Sunshine Products Inc. operates within the pharmaceutical preparations industry, focusing on health and wellness products.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements, including balance sheets, income statements, and cash flow statements.
2. Analyze management's discussion and analysis (MD&A) section for insights into operational performance and future outlook.
3. Compare the current quarter's financial results with historical data and industry benchmarks.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the quarterly update for March 31, 2024, providing the latest financial data compared to previous periods.

Filing Documents

• natr-20240331.htm (10-Q) — 842KB
• natr2024331-ex311.htm (EX-31.1) — 14KB
• natr2024331-ex312.htm (EX-31.2) — 14KB
• natr2024331-ex313.htm (EX-31.3) — 14KB
• natr2024331-ex321.htm (EX-32.1) — 6KB
• natr2024331-ex322.htm (EX-32.2) — 6KB
• natr2024331-ex323.htm (EX-32.3) — 6KB
• natr-20240331_g1.jpg (GRAPHIC) — 115KB
• 0001628280-24-021178.txt (&nbsp;) — 5203KB
• natr-20240331.xsd (EX-101.SCH) — 32KB
• natr-20240331_cal.xml (EX-101.CAL) — 54KB
• natr-20240331_def.xml (EX-101.DEF) — 139KB
• natr-20240331_lab.xml (EX-101.LAB) — 498KB
• natr-20240331_pre.xml (EX-101.PRE) — 315KB
• natr-20240331_htm.xml (XML) — 626KB

Financial Information

Part I. Financial Information 4 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Income 5 Condensed Consolidated Statements of Comprehensive Incom e (Loss) 6 Condensed Consolidated Statement s of Changes in Shareholders' Equity 7 Condensed Consolidated Statements of Cash Flows 8 Notes to Condensed Consolidated Financial Statements 9 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 26 Item 4.

Controls and Procedures

Controls and Procedures 26

Other Information

Part II. Other Information 28 Item 1.

Legal Proceedings

Legal Proceedings 28 Item 1A.

Risk Factors

Risk Factors 28 Item 2. Unregistered Sales of Equity Securities , Use of Proceed s , and Issuer 28 Item 3. Defaults Upon Senior Securities 28 Item 4. Mine Safety Disclosures 28 Item 5. Other Information 28 Item 6. Exhibits 29 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain information included or incorporated herein by reference in this report may be deemed to be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may include, but are not limited to, statements relating to our objectives, plans, strategies and financial results, including expected improvement in gross profit and gross margin. All statements (other than statements of historical fact) that address activities, events or developments that we intend, expect, project, believe or anticipate will or may occur in the future are forward-looking statements. These statements are often characterized by terminology such as "believe," "hope," "may," "anticipate," "should," "intend," "plan," "will," "expect," "estimate," "project," "positioned," "strategy" and similar expressions, and are based on assumptions and assessments made in light of our experience and perception of historical trends, current conditions, expected future developments and other factors we believe to be appropriate. For example, information appearing under "Management's Discussion and Analysis of Financial Condition and Results of Operations" includes forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are more fully described in this report, including the risks set forth under "Risk Factors" in Item 1A, and in the Company's Annual Report on Form 10-K for the year ended December 3

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS NATURE'S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Amounts in thousands) (Unaudited) March 31, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 77,773 $ 82,373 Accounts receivable, net of allowance for doubtful accounts of $ 138 and $ 142 , respectively 9,694 8,827 Inventories 62,653 66,895 Prepaid expenses and other 10,036 7,722 Total current assets 160,156 165,817 Property, plant and equipment, net 45,271 45,000 Operating lease right-of-use assets 15,966 13,361 Investment securities - trading 802 747 Deferred income tax assets 15,278 15,064 Other assets 9,794 9,784 Total assets $ 247,267 $ 249,773 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 9,029 $ 7,910 Accrued volume incentives and service fees 22,446 22,922 Accrued liabilities 23,257 33,162 Deferred revenue 1,877 1,794 Income taxes payable 7,208 6,418 Current portion of operating lease liabilities 5,064 4,547 Total current liabilities 68,881 76,753 Liability related to unrecognized tax benefits 624 312 Long-term portion of operating lease liabilities 12,648 10,376 Long-term note payable and revolving credit facility 2,107 — Deferred compensation payable 802 747 Deferred income tax liabilities 1,515 1,401 Other liabilities 983 644 Total liabilities 87,560 90,233 Shareholders' equity: Common stock, no par value, 50,000 shares authorized, 18,786 and 18,875 shares issued and outstanding, respectively 119,063 119,694 Retained earnings 52,032 49,711 Noncontrolling interest 5,651 5,482 Accumulated other comprehensive loss ( 17,039 ) ( 15,347 ) Total shareholders' equity 159,707 159,540 Total liabilities and shareholders' equity $ 247,267 $ 249,773 See accompanying notes to condensed consolidated financial statements. 4 Table of Contents NATURE'S SUNSHINE PRODUCTS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Amoun

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