NU Skin Enterprises, Inc. (NYSE:NUS) Q2 2023 Earnings Conference Call August 1, 2023 5:00 PM ET

Company Participants

Scott Pond - VP, IR

Ryan Napierski - President, CEO & Director

Connie Tang - EVP & Chief Global Growth & Customer Experience Officer

James Thomas - Interim CFO

Conference Call Participants

Chasen Bender - Citi

Blake Anderson - Jefferies

Christopher Armes - Stifel

Linda Bolton-Weiser - D.A. Davidson

Operator

Good day, ladies and gentlemen. Thank you for standing by. Welcome to Nu Skin Enterprises Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note that today's conference may be recorded. I will now hand the conference over to your speaker host for today, Mr. Scott Pond, Vice President of Investor Relations. Please go ahead.

Scott Pond

Thanks, Olivia, and good afternoon, everyone. Today on the call with me are Ryan Napierski, President and CEO; Connie Tang, Chief Global Growth Officer; and James Thomas, CFO. On today's call, comments will be made that include some forward-looking statements.

These statements involve risks and uncertainties, and actual results may differ materially from those discussed or anticipated. Please refer to today's earnings release and our SEC filings for a complete discussion of these risks. Also during the call, certain financial numbers may be discussed that differ from comparable numbers obtained in our financial statements. We believe these non-GAAP numbers assist in comparing period-to-period results in a more consistent manner. Please refer to our investor website for any required reconciliation of non-GAAP numbers. And with that, I'll turn the call over to Ryan.

Ryan Napierski

Thanks, Scott. Hello, everyone. Thanks for joining us today. In Q2, we continue to advance key initiatives enabling Nu Vision 2025, our multiyear transformation to becoming the world's leading integrated beauty and wellness company that's powered by our dynamic affiliate opportunity platform. While we remain confident in the direction and future outcome of our strategy, the persistence of macro headwinds has made the journey more challenging than expected, especially over the past several quarters. Nevertheless, we remain committed to our strategic direction, investing in the future through EmpowerMe personalization, social commerce and our digital ecosystem while pivoting our action plan based on near-term needs in the business, which I'll speak to in just a moment.

Our second quarter revenue was $500.3 million while earnings per share were $0.54. Both revenue and EPS were in line with our guidance and up on a sequential basis, mostly reflecting 8% year-over-year growth in Mainland China, where momentum continued to build ahead of plan. With ongoing economic uncertainties in the market, we remain cautiously optimistic given the healthy growth of paid affiliates and sales leaders during the quarter, both encouraging signs leading to sustained second half growth.