: Nu Skin stock falls 9% after Q4 sales miss


Shares of Nu Skin Enterprises Inc. NUS, +4.76% dropped more than 9% in the extended session Wednesday after the multilevel marketing company reported mixed fourth-quarter results, beating Wall Street expectations for profit but missing on sales, and guidance also disappointed. Nu Skin earned $57.2 million, or $1.15 a share, in the quarter, swinging from a loss of $9.2 million, or 18 cents a share, in the year-ago quarter. Revenue fell to $522.3 million from $673.4 million a year ago, the company said. FactSet consensus called for EPS of 44 cents a share on revenue of $542 million. Nu Skin guided for first-quarter revenue between $450 million and $490 million, which would be a drop between 26% and 19% and come in below expectations, and adjusted EPS between 25 cents and 35 cents, also missing the forecast. For the full-year 2023, the company guided for revenue between $2.03 billion and $2.18 billion, which would a drop between 9% and 2% year-on-year, and adjusted EPS between $2.35 and $2.75. “Our initial 2023 guidance assumes the global macro environment remains challenging in the near-term, improving throughout the year,” Chief Financial Officer Mark Lawrence said in a statement. Shares of Nu Skin ended the regular trading day up 4.8%.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleEarnings Results: Shopify stock falls 5% as forecast disappoints amid escalating Amazon rivalry, price increases
Next article: WallStreetBets creator Jaime Rogozinski sues Reddit over his ouster


Please enter your comment!
Please enter your name here