Shares of Usana Health Sciences (USNA) surged 6.12% on Tuesday, October 23, 2024, as the leading nutritional products and supplements manufacturer reported better-than-expected earnings for the third quarter, despite a revenue miss.
For the quarter ended September 30, 2024, Usana posted adjusted earnings per share (EPS) of $0.56, surpassing Wall Street's consensus estimate of $0.49 and marking a slight improvement over the same period last year. While the company's revenue declined 6.2% year-over-year to $200.22 million, falling short of analysts' projections of $205.77 million, the strong earnings performance appeared to outweigh concerns over the top-line miss.
Investors appeared to be encouraged by Usana's growth initiatives and positive developments, including a 7% year-over-year increase in active customer counts in the China market, a successful convention in Las Vegas that received positive feedback from associates, and the launch of new products like the Celavive Resurfacing Serum and Whey Protein Isolate in the US and Canada. Additionally, the company highlighted a robust pipeline of new products planned for 2025 and a restructured product development process that promises faster product launches and increased agility.
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