USANA Health Sciences (NYSE: USNA) reported Q1 EPS of $1.01, $0.02 better than the analyst estimate of $0.99. Revenue for the quarter came in at $273 million versus the consensus estimate of $272.09 million.

• Results in-line with preliminary results provided on April 2, 2019
• First quarter net sales of $273.0 million
• First quarter net earnings of $24.2 million, or $1.01 per share
• Company reiterates 2019 outlook provided in early April
• Share repurchase authorization increased to $150 million

“As we reported in early April, three factors unfavorably affected our sales results for the first quarter of 2019,” said Kevin Guest, Chief Executive Officer. “First, our 2019 operating plan contained very little promotional activity during the first quarter but calls for increasing promotional activity as the year progresses. This had a more significant impact on our global momentum than we anticipated, particularly during the seasonal slow-down that we experience each year in many of our markets during Chinese New Year. Second, the Chinese government’s 100-day review of the health product and direct selling industries that occurred during the quarter was accompanied by unexpected, persistent, negative media coverage about these industries in China. This media coverage affected our sales in China for the quarter. Finally, the unfavorable impact of a stronger U.S. dollar on net sales was also significant.”

GUIDANCE:

USANA Health Sciences sees FY2019 EPS of $5.00-$5.35, versus the consensus of $5.16. USANA Health Sciences sees FY2019 revenue of $1.21-1.26 billion, versus the consensus of $1.23 billion.

For earnings history and earnings-related data on USANA Health Sciences (USNA) click here.