Nature’s Sunshine Products, Inc. (NASDAQ:NATR) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET

Company Participants

Nate Brower – General Counsel
Terrence Moorehead – Chief Executive Officer
Shane Jones – Chief Financial Officer

Conference Call Participants

Christina Xue – D.A. Davidson

Operator

Good afternoon, everyone, and thank you for participating in today's conference call to discuss Nature’s Sunshine's Financial Results for the Second Quarter Ended June 30, 2024. Joining us today are Nature's Sunshine's CEO, Terrence Moorehead; CFO, Shane Jones; and General Counsel, Nate Brower.

Following their remarks, we'll open the call for analyst questions. Before we go further, I would like to turn the call over to Mr. Brower as he reads the company's safe harbor statement within the meaning of the Private Securities Litigation Reform Act of 1995 that provides important cautions regarding forward-looking statements. Please go ahead.

Nate Brower

Thank you. Good afternoon, and thanks for joining our conference call to discuss our second quarter 2024 financial results. I'd like to remind everyone that this call is available for replay via telephonic dial-in through August 22 and via a live webcast that will be posted in the Investor Relations portion of our website at ir.naturesunshine.com.

The information on this call contains forward-looking statements. These statements are often characterized by terminologies such as believe, hope, may, anticipate, expect, will and other similar expressions. Forward-looking statements are not guarantees of future performance, and the actual results may be materially different from the results implied by forward-looking statements. Factors that could cause results to differ materially from those implied herein include, but are not limited to, those factors disclosed in the company's annual report on Form 10-K under the caption Risk Factors and other reports filed with the Securities and Exchange Commission. The information on this call speaks only as of today's date, and the company disclaims any duty to update the information provided herein.

Now I would like to turn the call over to the CEO of Nature's Sunshine, Terrence Moorehead. Terrence?

Terrence Moorehead

Thank you, Nate, and good afternoon, everyone. I want to thank you for joining today's call to discuss our second quarter results. Today, I'll provide some context into our second quarter performance and offer insights into how the business is progressing in the current environment. From there, Shane will take you through our financials in more detail.

I'd like to begin by saying that we continue to make progress on our global growth strategies, addressing near-term challenges while driving change and creating new opportunities for the future. In the second quarter, net sales were $110.6 million, down 3% on a local currency basis, driven by continued macroeconomic headwinds in Asia-Pacific, a temporary disruption to our North American business and a tough comparison versus last year, which was one of the strongest quarters in the company's 52-year history.