Natures Sunshine Products Inc. Files Q3 2024 10-Q

TL;DR

Natures Sunshine Q3 2024 10-Q filed. Financials detailed.

AI Summary

Natures Sunshine Products Inc. reported its third-quarter results for the period ending September 30, 2024. The company's filing details its financial performance and position, including balance sheet items and income statement components for the quarter and year-to-date periods. Specific financial figures and operational details are presented within the report.

Why It Matters

This filing provides investors with a detailed look at Natures Sunshine Products Inc.'s financial health and operational performance for the third quarter of 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing contains standard financial disclosures for a public company, but the absence of specific performance metrics or significant events necessitates a medium risk assessment.

Key Numbers

• 2024 Q3 — Reporting Period (Covers the third quarter of fiscal year 2024.)
• 20240930 — Period End Date (The specific date through which financial information is reported.)
• 20241107 — Filing Date (The date the report was officially submitted to the SEC.)

Key Players & Entities

• Natures Sunshine Products Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241107 (date) — Date of filing
• UT (location) — State of incorporation and business address
• Lehi (location) — City of business address

FAQ

Filing Documents

• natr-20240930.htm (10-Q) — 1116KB
• bofa-nspxamendmentno5toloa.htm (EX-10.1) — 43KB
• natr2024930-ex311.htm (EX-31.1) — 14KB
• natr2024930-ex312.htm (EX-31.2) — 14KB
• natr2024930-ex313.htm (EX-31.3) — 14KB
• natr2024930-ex321.htm (EX-32.1) — 6KB
• natr2024930-ex322.htm (EX-32.2) — 6KB
• natr2024930-ex323.htm (EX-32.3) — 6KB
• natr-20240930_g1.jpg (GRAPHIC) — 115KB
• 0001628280-24-046400.txt ( ) — 5681KB
• natr-20240930.xsd (EX-101.SCH) — 29KB
• natr-20240930_cal.xml (EX-101.CAL) — 54KB
• natr-20240930_def.xml (EX-101.DEF) — 124KB
• natr-20240930_lab.xml (EX-101.LAB) — 399KB
• natr-20240930_pre.xml (EX-101.PRE) — 259KB
• natr-20240930_htm.xml (XML) — 822KB

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 10 Notes to Condensed Consolidated Financial Statements 11 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 21 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 29

Other Information

Part II. Other Information 30 Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 32 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) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 78,704 $ 82,373 Accounts receivable, net of allowance for doubtful accounts of $ 86 and $ 142 , respectively 11,396 8,827 Inventories 62,298 66,895 Prepaid expenses and other 11,131 7,722 Total current assets 163,529 165,817 Property, plant and equipment, net 41,994 45,000 Operating lease right-of-use assets 13,815 13,361 Investment securities - trading 892 747 Deferred income tax assets 14,941 15,064 Other assets 10,162 9,784 Total assets $ 245,333 $ 249,773 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 8,875 $ 7,910 Accrued volume incentives and service fees 21,958 22,922 Accrued liabilities 24,011 33,162 Deferred revenue 1,747 1,794 Income taxes payable 6,522 6,418 Current portion of operating lease liabilities 4,037 4,547 Total current liabilities 67,150 76,753 Liability related to unrecognized tax benefits 651 312 Long-term portion of operating lease liabilities 11,237 10,376 Deferred compensation payable 892 747 Deferred income tax liabilities 1,346 1,401 Other liabilities 1,440 644 Total liabilities 82,716 90,233 Commitments and contingencies Shareholders' equity: Common stock, no par value, 50,000 shares authorized, 18,498 and 18,875 shares issued and outstanding, respectively 113,946 119,694 Retained earnings 57,728 49,711 Noncontrolling interest 6,089 5,482 Accumulated other comprehensive loss ( 15,146 ) ( 15,347 ) Total shareholders' equity 162,617 159,540 Total liabilities and shareholders' equity $ 245,333 $ 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, exce

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