The shares of the wellness and beauty company Nu Skin Company (NIS -3.17%) did not look particularly fresh and pretty on the last trading day of the week. Shares lost over 3% of their value that day after the company released its second quarter results. The rest of the stock market generally performed better, with S&P500 The index recorded an increase of almost 0.5%.

Second quarter results published

Shortly after the stock market closed on Thursday, Nu Skin released its second-quarter figures. Most notably, revenue fell 12% year-on-year to just over $439 million. Non-GAAP (generally accepted accounting principles) adjusted net income suffered an even steeper decline, falling from nearly $27 million in the second quarter of 2023 to $10.4 million ($0.21 per share).

Despite the revenue and profit declines, Nu Skin’s numbers were well above analyst consensus estimates. On average, analysts who followed the stock forecast revenue of just under $432 million and adjusted earnings per share of $0.17.

Management rated the performance positively, quoting CEO Ryan Napierski as saying, “While our core Nu Skin business continues to navigate the macroeconomic environment, we are encouraged by the sequential gains in several of our markets, including the United States and most of Southeast Asia/Pacific.”

Napierski also noted that Rhyz, its strategic investment arm, saw 32% growth during the period. Overall, the unit generated nearly $68 million in the second quarter.

Quarterly profit forecast falls short of expectations

As always, however, investors are more interested in the future of a stock than its recent past. Nu Skin provided guidance for both the current (third) quarter and the full year 2024.

For the first period, the company expects revenue of $430 million to $465 million and adjusted earnings per share of $0.15 to $0.25. While the analysts’ consensus revenue estimate of nearly $460 million is within this range, the forecast for adjusted net income of $0.42 per share is not.

For the full year 2024, Nu Skin expects adjusted net income of $1.73 billion to $1.81 billion and earnings per share of $0.75 to $0.95.