Why Nu Skin Enterprises Stock Flopped on Friday
The stock of wellness and beauty company Nu Skin Enterprises (NYSE: NUS) wasn't looking particularly fresh and beautiful on the last trading day of the week. The shares lost over 3% of their value on the day, following the company's release of its second-quarter results. The rest of the stock market generally did better, with the S&P 500 index recording a gain of just under 0.5%.
Shortly after market close on Thursday, Nu Skin published its second-quarter numbers. Chief among these was revenue, which fell by 12% year over year to slightly over $439 million. Non-GAAP (generally accepted accounting principles) adjusted net income suffered a steeper fall, tumbling to $10.4 million ($0.21 per share) from the second-quarter 2023 profit of nearly $27 million.
Despite the top- and bottom-line erosion, Nu Skin's headline figures came in comfortably ahead of the consensus analyst estimates. On average, prognosticators following the stock were modeling revenue just shy of $432 million, and adjusted, per-share earnings of $0.17.
Source Fool.com
