The stock price of Nu Skin Enterprises, Inc. (NYSE:NUS) skyrocketed by more than 13 percent to $75.80 per share on Tuesday after the company raised its earnings guidance for the second quarter and full year 2013.
Nu Skin Announced Revenue Estimates
Nu Skin Enterprises, Inc. (NYSE:NUS) announced yesterday that its revenue is expected to be around $680 million and its earnings would be approximately $1.20 per share. The company previously estimated that its revenue for the period would be in the range of $570 million to $580 million and its previous earnings estimate was around $0.91 to $0.95 per share. According to the company, foreign currency fluctuations negatively affected its revenue for the quarter by approximately 3 percent.
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For the year 2013, Nu Skin Enterprises, Inc. (NYSE:NUS) increased its revenue estimate from approximately $2.83 billion to $2.86 billion with earnings in the range of around $4.85 to $5.00 per share. The company said that its expectations include a 5 percent negative impact from foreign currency fluctuations.
Wall Street analysts expect Nu Skin Enterprises, Inc. (NYSE:NUS) to achieve a revenue of $578.9 million and $0.96 earnings per share for the second quarter. For the entire 2013, its estimated revenue was $2.77 billion and $4.89 earnings per share.
Truman Hunt’s Statements
Truman Hunt, president and chief executive officer of Nu Skin Enterprises, Inc. (NYSE:NUS) said, “Our second-quarter results reflect the strong momentum of our business. After a record 2012 that included impressive ageLOC product launches in the second quarter, we continue to generate healthy gains throughout our global business, particularly in the Greater China, North Asia and Americas regions.”
Hunt added that the company would provide updates regarding its expectations for the rest of the year. Updates include results from the limited-time introduction of its new ageLOC TR90 weight management system.
Furthermore, Hunt said, “We continue to expect this product introduction to be the largest in our history and anticipate a net impact of approximately $380 to $400 million from TR90 sales in the second half of the year.”
Nu Skin Enterprises, Inc. (NYSE:NUS) is scheduled to release its financial performance before the market opens on Thursday, August 1.
Meanwhile, the stock value of Herbalife Ltd. (NYSE:HLF) was also moved higher at $49.85 per share on Tuesday. The company’s stock price recovered after plunging by 38 percent in December last year, when Bill Ackman alleged that it Herbalife’s business model is a pyramid scheme.
Carl Icahn had a different view on Herbalife Ltd. (NYSE:HLF) and made a huge investment in the company. He is the largest shareholder of Herbalife. His move helped the company regained its stock value (up by more than 48 percent year to date).