Nu Skin Enterprises, Inc. (NYSE:NUS) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET

Company Participants

Scott Pond - Vice President-Investor Relations
Ryan Napierski - President and Chief Executive Officer
James Thomas - Chief Financial Officer

Conference Call Participants

Chasen Bender - Citigroup
Ashley Helgans - Jefferies

Operator

Thank you for standing by. My name is Prilla, and I will be your conference operator today. At this time I would like to welcome everyone to the Nu Skin Enterprises' Q3 2024 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to hand the conference over to Scott Pond, Vice President of Investor Relations. You may begin.

Scott Pond

Thanks, Prilla, and good afternoon everyone. Today on the call with me are Ryan Napierski, President and CEO; and James Thomas, CFO.

On today's call, comments will be made that include 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 these non-GAAP numbers.

And with that I'd like to turn the call now over to Ryan.

Ryan Napierski

Thanks, Scott. Hello everyone, thanks for joining our call. I'll start by providing a performance summary on Q3, sharing thoughts on our near term priorities to improve operating performance followed by an update on our longer term strategies to reenergize growth as we continue to evolve our core Nu Skin traditional direct selling business towards a more expansive integrated beauty, wellness and lifestyle ecosystem including our Rhyz businesses.

The third quarter results were in line with our guidance range reflecting continued headwinds in our core Nu Skin business partially offset by ongoing strong performance from our Rhyz segments. We delivered growth in a handful of markets in Latin America and Southeast Asia as well as impressive growth from Mavely, our affiliate marketing platform.

We continue to face pressures in several of our larger markets including South Korea and China where ongoing macroeconomic factors are impacting consumer spending. I was recently in China with our team evaluating future opportunities in the market and continue to believe in the long-term potential of this market despite the near-term headwinds.