NU SKIN ENTERPRISES, INC. (NUS): restructuring charge — Nu Skin Q3 revenue down 7% to $498.8M; GAAP EPS $(0.74); guides FY23 revenue $1.92-1.96B

NU SKIN ENTERPRISES, INC.

2023-Q3 EPS reported $0.03 revenue$1,480,491,000

Q3 revenue $498.8M vs $537.8M prior; GAAP EPS loss $(0.74) including $65.7M inventory write-off.
Non-GAAP EPS $0.56; customers 978,907 (-21%), paid affiliates 186,162 (-23%).
Q4 outlook revenue $440-480M, EPS $(0.14)-$0.01 or $0.15-$0.30 non-GAAP; full-year EPS $1.62-$1.77 non-GAAP.
Restructuring program with $15-25M severance charges in Q4 2023, expected completion by H1 2024.
EVP Connie Tang resigns effective Oct 31, 2023, remains advisor through April 2024; CEO overseeing her org.

item 2.02 item 2.05 item 5.02 item 9.01

Executive movements

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Departed

Connie Tang

Executive Vice President and Chief Global Growth and Customer Experience Officer

NUS · NU SKIN ENTERPRISES, INC.

Effective: 2023-10-31
Filed: November 1, 2023, 7:59 PM ET

Connie Tang notified the Company that, due to family health reasons, she determined to resign from her position as Executive Vice President and Chief Global Growth and Customer Experience Officer, effective October 31, 2023.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

NU SKIN ENTERPRISES, INC. reported third quarter 2023 results: revenue $498.8 million, EPS $(0.74). Guidance reaffirmed.

Period: third quarter 2023
Revenue: $498.8 million
EPS: $(0.74)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Results PROVO, Utah — Nov. 1, 2023 — Nu Skin Enterprises Inc. (NYSE: NUS) today announced third quarter 2023 results. Executive Summary Q3 2023 vs. Prior-year Quarter Revenue $498.8 million; (7)% • (1)% FX impact or $(8.1) million Earnings Per Share (EPS) $(0.74) or $0.56 excluding an inventory write-off compared to $(0.51) or $0.47 excluding restructuring and

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Connie Tang resigned as Executive Vice President and Chief Global Growth and Customer Experience Officer at NU SKIN ENTERPRISES, INC..

Action: resigned
Role: Executive Vice President and Chief Global Growth and Customer Experience Officer

Exact text from the filing

Connie Tang notified the Company that, due to family health reasons, she determined to resign from her position as Executive Vice President and Chief Global Growth and Customer Experience Officer, effective October 31, 2023.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

NU SKIN ENTERPRISES, INC. announced a restructuring with charges of $15–$25 million in severance charges (workforce reductions).

Type: restructuring
Charge: $15–$25 million in severance charges
Headcount: workforce reductions

Exact text from the filing

On October 27, 2023, the Company adopted a strategic plan to focus resources on the Company’s global priorities and optimize future growth and profitability (the “global program”). The global program includes workforce reductions. The Company estimates total charges for the fourth quarter of 2023 under the global program will approximate $15–$25 million in severance charges, which will be paid in cash.

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Source: SEC EDGAR

accession 0001140361-23-050854

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