USANA Health Sciences, Inc. (NYSE:USNA) Q1 2023 Earnings Conference Call April 26, 2023 11:00 AM ET

Company Participants

Andrew Masuda - Director of Investor Relations

Kevin Guest - Chief Executive Officer

Jim Brown - President

Doug Hekking - Chief Financial Officer

Walter Noot - Chief Operating Officer

Brent Neidig - Chief Officer and Managing Director of China

David Mulham - Chief Sales Officer

Conference Call Participants

Linda Bolton Weiser - D. A. Davidson & Co.

Operator

Good day and welcome to today’s USANA Health Sciences First Quarter Earnings Call. This meeting is being recorded. At this time, I’d like to hand the call over to Andrew Masuda. Please go ahead, sir.

Andrew Masuda

Thank you, and good morning, everyone. We appreciate you joining us to review our first quarter results. Today’s conference call is being broadcast live via webcast and can be accessed directly from our website at ir.usana.com. Shortly following the call, a replay will be available on our website.

As a reminder, during the course of this conference call, management will be making forward-looking statements regarding future events or the future financial performance of our company. Those statements involve risks and uncertainties that could cause actual results to differ, perhaps materially from the results projected in such forward-looking statements. Examples of these statements include those regarding our strategies and outlook for fiscal year 2023, as well as uncertainty related to the economic and operating environment around the world, our operations and financial results. We caution you that these statements should be considered in conjunction with disclosures, including specific risk factors and financial data contained in our most recent filings with the SEC.

I’m joined by our CEO and Chairman of the Board, Kevin Guest; our President, Jim Brown; our Chief Financial Officer, Doug Hekking, as well as other executives. Yesterday, after market closed, we announced our first quarter results and posted our management commentary document to the company’s website.

We’ll now hear brief remarks from Kevin and Jim before opening the call for questions.

Kevin Guest

Thank you, Andrew, and good morning, everyone. We appreciate you joining us. We’re pleased to report solid first quarter results, which were modestly ahead of our expectations. The team did an excellent job of executing market specific initiatives, which included various in-person events, promotions, and the launch of our new affiliate program in certain markets. As a result, we continued to see stabilization in active customer counts and sequential quarter net sales growth. Accordingly, we have raised the lower end of our net sales and earnings per share guidance for the full year.