NUS - Nu Skin Enterprises cuts Q2 revenue guidance on global headwinds
- Nu Skin Enterprises ( NYSE: NUS ) on Thursday cut its Q2 revenue guidance , citing COVID-19-related disruptions in China, the Ukraine war and macro headwinds.
- NUS expects to report Q2 revenue of $557M-$562M, well below consensus estimate of $604.73M. Its prior forecast was $590M-$620M.
- "Q2 revenue was softer than expected due to extended COVID-related factors in Mainland China, distractions in EMEA related to ongoing conflict in Ukraine, and the global economic downturn that is particularly challenging for developing regions like Latin America," said NUS CEO Ryan Napierski.
- On the other hand, Napierski said growth in the Southeast Asia region and ongoing momentum in the U.S., given high inflation, has been "encouraging".
- NUS expects the launch of its first connected beauty device - ageLOC LumiSpa iO - will result in sequential improvements in H2.
- The company will announces its Q2 results after market close on Aug. 4.
- NUS stock slipped 2.9% in aftermarket trade following the guidance cut.
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Nu Skin Enterprises cuts Q2 revenue guidance on global headwinds