USANA Health Sciences, Inc. | October 25, 2022 |
Q3 2022 Management Commentary |
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Third quarter net sales were $233 million as compared with $274 million during the third quarter of the prior year.
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Third quarter diluted EPS totaled $0.78 versus $1.36 during the third quarter of 2021.
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Company revises fiscal 2022 net sales and diluted EPS outlook to $955 million to $975 million and $3.15 to $3.40, respectively.
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Consolidated Results
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Net Sales
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$233 million
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•-15% vs. prior-year quarter
•-9% constant currency vs. prior-year quarter
•-$15 million YOY FX impact, or -6%
•-9% sequentially in constant currency
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Diluted EPS
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$0.78
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•-43% vs. prior-year quarter
•-22% sequentially
•Diluted shares of 19.3 million, -4% year-over-year
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Active Customers
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474,000
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•-18% vs. prior-year quarter
•-15% sequentially
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Asia Pacific Region
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Net Sales
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$183 million
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•-17% vs. prior-year quarter
•-11% constant currency vs. prior-year quarter
•-13% constant currency sequentially
•78% of consolidated net sales
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Active Customers
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362,000
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•-18% vs. prior-year quarter
•-17% sequentially
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Asia Pacific Sub-Regions
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Greater China
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Net Sales
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$110 million
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•-11% vs. prior-year quarter
•-6% constant currency vs. prior-year quarter
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Active Customers
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213,000
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•-13% vs. prior-year quarter
•-23% sequentially
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North Asia
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Net Sales
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$26 million
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•-22% vs. prior-year quarter
•-10% constant currency vs. prior-year quarter
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Active Customers
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54,000
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•-14% vs. prior-year quarter
•-5% sequentially
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Southeast Asia Pacific
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Net Sales
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$47 million
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•-27% vs. prior-year quarter
•-21% constant currency vs. prior-year quarter
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Active Customers
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95,000
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•-29% vs. prior-year quarter
•-8% sequentially
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Americas and Europe Region
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Net Sales
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$51 million
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•-5% vs. prior-year quarter
•-4% constant currency vs. prior-year quarter
•+9% constant currency sequentially
•22% of consolidated net sales
•Includes $2.3 million of Q3 2022 sales contribution from recent acquisitions
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Active Customers
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112,000
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•-16% vs. prior-year quarter
•-7 % sequentially
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Fiscal Year 2022 Outlook
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Revised Range
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Previous Range
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Consolidated Net Sales
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$955 - $975 million
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$1,015 - $1,065 million
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Diluted EPS
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$3.15 - $3.40
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$3.85 - $4.45
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An unfavorable currency exchange rate impact on net sales of approximately $52 million (previously $40 million)
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An operating margin in the range of 9.8% and 10.4% (previously between 11% and 12%)
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An annual effective tax rate between 34% and 35% (previously 33.5%)
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An annualized diluted share count of 19.3 million (unchanged)
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Investor contact:
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Andrew Masuda
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Investor Relations
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(801) 954-7210
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investor.relations@usanainc.com
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Media contact:
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Dan Macuga
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Public Relations
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801-954-7280
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