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LEHI, Utah – Nature’s Sunshine Products, Inc. (NASDAQ:NATR), a prominent health and wellness company specializing in high-quality herbal and nutritional products, has outperformed analysts’ expectations for the fourth quarter adjusted earnings per share (EPS).
The company reported an adjusted EPS of $0.45, significantly higher than the analyst estimate of $0.15. However, the revenue for the quarter was slightly below the consensus, with the company posting $108.9 million against the expected $111.1 million.
The fourth quarter results marked a robust period for Nature’s Sunshine, with a notable 6% increase in net sales compared to the same quarter last year, which stood at $102.7 million. This growth is even more impressive considering the constant currency net sales increase of 5.6%. The company’s GAAP net income saw a substantial rise to $9 million, up from $2 million in the prior year’s quarter, reflecting a more than threefold increase. Adjusted EBITDA also grew by 21%, reaching $9.7 million compared to $8.0 million in the year-ago quarter.
CEO Terrence Moorehead expressed satisfaction with the company’s performance, attributing the strong results to double-digit sales growth in North America and effective gross margin initiatives that are on track to achieve or surpass a $10 million savings goal in 2024. Moorehead highlighted the company’s ability to execute high-level sales and cost optimization strategies, which have contributed to an increase in operating cash flow and positioned the company for continued profitable growth and shareholder value expansion.
Looking ahead to the full year 2024, Nature’s Sunshine anticipates net sales to range between $455 million and $480 million, with the midpoint of this guidance slightly below the analyst consensus of $464.3 million. The company’s adjusted EBITDA forecast for the year is set to range between $42 million and $48 million.
Nature’s Sunshine’s balance sheet remains strong, ending the year with $82.4 million in cash and cash equivalents and no outstanding debt. The company’s commitment to shareholder returns was evident in the repurchase of 424,000 shares at a total cost of $6.4 million during the year.
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