Natures Sunshine Products Inc. Files Q2 2024 10-Q

TL;DR

Natures Sunshine Products Inc. filed its Q2 2024 10-Q. Financials are in.

AI Summary

Natures Sunshine Products Inc. reported its second quarter 2024 results for the period ending June 30, 2024. The company's financial performance for the quarter and year-to-date is detailed in this 10-Q filing. Specific financial figures and operational highlights are provided within the document.

Why It Matters

This filing provides investors with an update on Natures Sunshine Products Inc.'s financial health and operational performance for the second quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• NATURES SUNSHINE PRODUCTS INC (company) — Filer
• 20240630 (date) — Period of Report
• 20240808 (date) — Filed as of Date
• 2024 Q2 (date) — Filing Quarter

FAQ

Filing Documents

• natr-20240630.htm (10-Q) — 1059KB
• natr2024630-ex311.htm (EX-31.1) — 14KB
• natr2024630-ex312.htm (EX-31.2) — 14KB
• natr2024630-ex313.htm (EX-31.3) — 14KB
• natr2024630-ex321.htm (EX-32.1) — 6KB
• natr2024630-ex322.htm (EX-32.2) — 6KB
• natr2024630-ex323.htm (EX-32.3) — 6KB
• natr-20240630_g1.jpg (GRAPHIC) — 115KB
• 0001628280-24-036235.txt ( ) — 5535KB
• natr-20240630.xsd (EX-101.SCH) — 30KB
• natr-20240630_cal.xml (EX-101.CAL) — 54KB
• natr-20240630_def.xml (EX-101.DEF) — 124KB
• natr-20240630_lab.xml (EX-101.LAB) — 400KB
• natr-20240630_pre.xml (EX-101.PRE) — 258KB
• natr-20240630_htm.xml (XML) — 806KB

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 I ncome 5 Condensed Consolidated Statements of Comprehensive Incom e 7 Condensed Consolidated Statement s of Changes in Shareholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements 10 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 20 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 28

Other Information

Part II. Other Information 29 Item 1.

Legal Proceedings

Legal Proceedings 29 Item 1A.

Risk Factors

Risk Factors 29 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29 Item 3. Defaults Upon Senior Securities 29 Item 4. Mine Safety Disclosures 29 Item 5. Other Information 29 Item 6. Exhibits 30 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 31, 2023, but

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) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 68,695 $ 82,373 Accounts receivable, net of allowance for doubtful accounts of $ 138 and $ 142 , respectively 11,290 8,827 Inventories 62,304 66,895 Prepaid expenses and other 9,747 7,722 Total current assets 152,036 165,817 Property, plant and equipment, net 44,832 45,000 Operating lease right-of-use assets 13,722 13,361 Investment securities - trading 890 747 Deferred income tax assets 14,704 15,064 Other assets 9,647 9,784 Total assets $ 235,831 $ 249,773 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 8,422 $ 7,910 Accrued volume incentives and service fees 22,144 22,922 Accrued liabilities 22,994 33,162 Deferred revenue 2,217 1,794 Income taxes payable 3,911 6,418 Current portion of operating lease liabilities 3,961 4,547 Total current liabilities 63,649 76,753 Liability related to unrecognized tax benefits 935 312 Long-term portion of operating lease liabilities 11,390 10,376 Deferred compensation payable 890 747 Deferred income tax liabilities 1,164 1,401 Other liabilities 1,403 644 Total liabilities 79,431 90,233 Commitments and contingencies Shareholders' equity: Common stock, no par value, 50,000 shares authorized, 18,508 and 18,875 shares issued and outstanding, respectively 114,014 119,694 Retained earnings 53,381 49,711 Noncontrolling interest 5,790 5,482 Accumulated other comprehensive loss ( 16,785 ) ( 15,347 ) Total shareholders' equity 156,400 159,540 Total liabilities and shareholders' equity $ 235,831 $ 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 (Amounts in thousands, except per

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