Nu Skin Enterprises (NUS) Cuts Q3 Revenue Outlook
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Revenue Growth %: -5.8%
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General and administrative expenses: 140.65M
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Nu Skin Enterprises (NYSE: NUS) updated its revenue guidance for the third quarter of 2015 in advance of this week's global sales leader convention. The company estimates third-quarter revenue in a range of $570 to $573 million, approximately even with the prior year on a constant-currency basis. Foreign currency headwinds associated with the strengthening of the U.S. dollar negatively impacted revenue by more than $60 million compared to the prior-year period. The revised revenue range is expected to represent continued improvement on a sequential basis, and the company continues to forecast constant-currency revenue growth in the fourth quarter of 2015 versus the prior year.
*** The Street sees $621.6 million. NUS previously saw Q3 revenue of $600 - $620 million.
"As we look at our global business, we have seen improving revenue trends each quarter throughout 2015 and expect to be even with prior-year revenue on a constant-currency basis in the third quarter," said Truman Hunt, president and chief executive officer. "Our third-quarter results will be in line with expectations, with the exception of the Greater China region. Revenue growth in the third quarter was particularly strong in South Asia/Pacific, where our first introduction of ageLOC Youth drove more than 20 percent growth in that region, or more than 40 percent on a constant-currency basis.
"Third-quarter results were impacted by lower-than-expected sales of our new cosmetic oils in China during August and September, which may be a reflection of economic conditions in China," continued Hunt.
"Given the successful launch of ageLOC Youth in South Asia/Pacific, we look forward to the introduction of ageLOC Youth as well as ageLOC Me in most of our regions during the fourth quarter. We forecast year-over-year constant-currency revenue growth of between 7 and 10 percent in the fourth quarter," concluded Hunt.
The Nu Skin management team plans to release third quarter 2015 results after the market closes on Nov. 5, 2015 and will host a conference call with the investment community on Nov. 5, 2015, at 5 p.m. (EST) to discuss these results.
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