실적분석 2026년 8월 10일

Nu Skin Enterprises ($NUS) Q2 2026 Earnings Analysis — Adjusted EPS In Line, Revenue Miss Sends Shares Tumbling After Hours

Earnings Scorecard

Revenue: $320 million (-17.1% year over year; consensus $345 million) ❌ Miss

EPS: Adjusted $0.20 (consensus $0.20) ✅ In line · GAAP $(5.14)

Guidance: Newly issued — Q3 revenue $310–$340 million, adjusted EPS $0.10–$0.20; full-year revenue $1.28–$1.35 billion, adjusted EPS $0.70–$0.90

Stock reaction: After hours -11.26% ($4.57) — as of 08-11 06:13 Korea time

What Went Well

Adjusted earnings met expectations: Adjusted EPS of $0.20 matched the consensus of $0.20.

Guidance near the midpoint: Management noted adjusted EPS came in near the midpoint of company guidance.

Core margins held up: Gross margin in the Nu Skin business rose modestly to 77.7% from 77.5% a year earlier.

On an adjusted basis that strips out one-time items, the company hit its profit targets and core margins held without a major collapse. Management also said preparation for long-term products and markets continues.

What Fell Short

Revenue miss: Came in at $320 million versus the $345 million estimate, a 17.1% year-over-year decline.

Sales organization contraction: Customers -14%, paid affiliate members -8%, sales leaders -9%.

Large one-time loss: Impairment charges and a deferred-tax-assets valuation allowance drove GAAP EPS to -$5.14.

Top-line contraction persisted across regions and channels, and the accounting loss widened sharply. With double-digit revenue declines still expected for the full year, pressure on the pace of recovery is mounting.

What the Company Said

The CEO said long-term initiatives such as the rollout of Pruvio and preparations for a formal India launch are advancing, and that the company is realigning organizational resources to enhance sustainable shareholder value. The interim CFO noted that adjusted EPS reached the midpoint of guidance, and that the annual outlook was revised to reflect first-half results and the second-half outlook.

Market Reaction and What to Watch

Revenue came in well below market expectations, the customer and sales-organization contraction continued, and the company guided to double-digit revenue declines for the full year — all of which fueled selling pressure on concerns about the timing of a growth recovery.

Watch whether Q3 revenue narrows the pace of decline within the guidance range.

Watch whether the downtrend in customers, paid affiliate members, and sales leaders stabilizes.

Watch whether broader adoption of Pruvio and the India launch translate into an actual revenue rebound.