Usana Health's stock dips then turns flat after earnings miss and lowered guidance
Usana Health Sciences Inc.'s stock (USNA) fell 2% before turning flat in after-hours trade Tuesday, after the maker of nutritional supplements missed earnings estimates for the third quarter. Salt Lake City, Utah-based Usana posted net income of $11.3 million, or 59 cents a share, for the quarter, down from $14.9 million, or 78 cents a share, in the year-earlier period. Sales fell to $213.4 million from $233.3 million. The FactSet consensus was for EPS of 64 cents and revenue of $220.0 million. "Operating results for the third quarter did not meet our expectations, largely because of challenging economic conditions across many of our regions and a lower cadence of promotional activity during the quarter," CEO John Brown said in a statement. "These factors made it difficult to generate both Active Customer growth and top line momentum in our business." The company lowered its full-year guidance and now expects EPS to range from $2.80 to $3.05, compared with prior guidance of $2.65 to $3.30. It expects sales of $900 million to $920 million, compared with prior guidance of $900 million to $950 million. The stock has gained 4% in the year to date, while the S&P 500 has gained 10.6%.
-Ciara Linnane
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
10-24-23 1625ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Markets Brief: Is It Really a Surprising Quarter for Earnings?
-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
Palantir Earnings: AI Platform Drives Strong Start to 2024
-
What I Hope My 14-Year-Old Learned at Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks
-
3 Stocks With High Dividend Yields That Warren Buffett Likes
-
How to Invest Like Warren Buffett
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting