Nature’s Sunshine Products Q1 Revenue 2024 Up 2% To $111 Million

Nature’s Sunshine Products, Inc. (Nasdaq: NATR) (Nature’s Sunshine), a leading natural health and wellness company offering high-quality herbal and nutritional products, reported financial results for the first quarter ended March 31, 2024.

First Quarter 2024 Financial Summary vs. Same Year-Ago Quarter

• Net sales were up 2% to $111.0 million compared to $108.6 million (up 4% in constant currency).
• Gross margin increased 33 basis points to 71.2% compared to 70.8%.
• GAAP net income attributable to common shareholders up significantly to $2.3 million, or $0.12 per diluted common share, compared to $0.9 million, or $0.04 per diluted common share.
• Adjusted EBITDA up slightly to $9.2 million compared to $9.1 million.

Management Commentary

“In the first quarter, our omni-channel approach and high-quality products combined to drive momentum in our business. Specifically, we saw digital sales surge 33% with a 34% increase in new customers, helping our North American business unit grow 5% for the quarter. What’s more, the successful launch of our new Power Line products helped drive improved performance in our European business that further reinforced our positive momentum.

said Nature’s Sunshine CEO Terrence Moorehead,

“These results were somewhat offset by slower sales in Asia/Pacific, which were up 5% in local currency, as the weak economic environment in China finally caught up with our positive sales momentum. Overall, our business continued to outpace the market as we delivered 4% revenue growth in local currency.

“On the cost side of the equation, inflationary pressures and volatile foreign exchange rates have negatively impacted ingredient costs, placing additional pressure on our gross margin expansion efforts in the quarter, but we remain committed to deliver our $10 million cost of goods savings goal. We are also still firmly on our path to driving sustainable profit growth by expanding our ability to attract and retain customers.”

About Nature’s Sunshine Products

Nature’s Sunshine Products (Nasdaq: NATR), a leading natural health and wellness company, markets and distributes nutritional and personal care products in more than 40 countries.

Nature’s Sunshine manufactures most of its products through its own state-of-the-art facilities to ensure its products continue to set the standard for the highest quality, safety and efficacy on the market today. Additional information about the company can be obtained at its website, www.naturessunshine.com.