Nature's Sunshine(NATR) - 2024 Q3 - Quarterly Results

Financial Performance - Net sales for Q3 2024 increased by 3% to $114.6 million compared to$111.2 million in Q3 2023, with a 4% increase in constant currency[1][3] - GAAP net income attributable to common shareholders rose to $4.3 million, or$0.23 per diluted share, up from $2.8 million, or$0.15 per diluted share in the prior year[1][8] - Adjusted EBITDA increased by 5% to $10.7 million compared to$10.3 million in the same quarter last year[1][9] - Operating income decreased to $5.3 million, or 4.6$5.8 million, or 5.2% of net sales in Q3 2023[1][6] - Other income for Q3 2024 was $2.6 million, compared to a loss of$0.9 million in Q3 2023, primarily due to foreign exchange gains in Asia[1][7] - Net income for the three months ended September 2024 was $4,646 million, up from$3,142 million in the same period last year, representing a 48% increase[32] - Reported income attributable to common shareholders for the three months ended September 2024 was $4,347 million, compared to$2,832 million in the prior year, a 53% increase[32] Sales and Revenue - The Asia segment reported net sales of $55.3 million, a 5.9$443 million and $448 million, adjusted EBITDA is projected to be between$40 million and $42 million[1][11] - Net sales for Q3 2024 were$114,615, an increase of 3.7% compared to $111,202 in Q3 2023[26] Profitability Metrics - Gross profit margin decreased to 71.3$0.23 in Q3 2024 from $0.15 in Q3 2023, representing a 53.3$0.23 for the three months ended September 2024, compared to $0.15 in the prior year, marking a 53$0.27 for the three months ended September 2024, up from $0.15 in the same period last year, indicating an 80$78.7 million with zero debt[1][10] - Cash and cash equivalents at the end of Q3 2024 were $78,704, down from$82,373 at the beginning of the period[29] - Total current assets decreased to $163,529 as of September 30, 2024, from$165,817 at the end of 2023, a decline of 1.4%[28] Liabilities and Equity - Total liabilities decreased to $82,716 as of September 30, 2024, from$90,233 at the end of 2023, a reduction of 8.2%[28] - Shareholders' equity increased to $162,617 as of September 30, 2024, compared to$159,540 at the end of 2023, an increase of 1.3%[28] Year-to-Date Performance - The company reported a net income of $8,624 for the nine months ended September 30, 2024, compared to$7,072 for the same period in 2023, reflecting a growth of 21.9%[30] - Adjusted EBITDA for the nine months ended September 30, 2024, was $30,277, slightly down from$30,692 in the same period of 2023[30] - Non-GAAP net income attributable to common shareholders for the nine months ended September 2024 was $8,819 million, compared to$9,750 million for the same period in 2023, reflecting a decrease of 9%[32] - The company reported a total net income of $8,624 million for the nine months ended September 2024, compared to$7,072 million for the same period in 2023, an increase of 22%[32] - Basic income per share, as adjusted, for the nine months ended September 2024 was $0.47, down from$0.51 in the same period last year, a decrease of 8%[32] Adjustments and Other Factors - Total adjustments for the three months ended September 2024 amounted to $802 million, with significant contributions from loss on sale of property and equipment and restructuring expenses[32] - Total adjustments for the nine months ended September 2024 were$802 million, with a significant prior year adjustment of $3,636 million impacting comparability[32] - The company experienced a VAT refund adjustment of$(992) million for the three months ended September 2024, impacting overall net income[32]