USANA Health Sciences, Inc. (USNA) Bundle
A Brief History of USANA Health Sciences, Inc.
USANA Health Sciences, Inc., a global leader in the dietary supplement and personal care markets, has experienced notable growth and challenges throughout its operational history. As of 2024, the company continues to adapt to changing market dynamics and consumer preferences.
Company Overview
Founded in 1992, USANA specializes in manufacturing high-quality nutritional products, including vitamins and supplements. The company's product lines have expanded to include personal care items and nutritional foods, catering to a diverse consumer base across multiple regions.
Financial Performance
As of September 28, 2024, USANA reported net sales of $640.9 million for the nine months ended, a decrease of 8.4% compared to $699.9 million for the same period in 2023. The decline was attributed to decreased active customers and average spending per customer due to a challenging economic environment.
| Period | Net Sales (in millions) | Change from Prior Year (%) |
|---|---|---|
| Nine Months Ended September 28, 2024 | $640.9 | -8.4 |
| Nine Months Ended September 30, 2023 | $699.9 | N/A |
Regional Performance
Net sales by region for the nine months ended September 28, 2024, highlighted significant variances:
| Region | Net Sales (in thousands) | Change from Prior Year (%) |
|---|---|---|
| Greater China | $345,389 | -3.8 |
| Southeast Asia Pacific | $108,734 | -12.9 |
| North Asia | $61,672 | -22.3 |
| Americas and Europe | $125,095 | -8.4 |
Customer Base and Trends
USANA's active customer base has also seen fluctuations. As of September 28, 2024, the total active customers decreased to 452,000, a decline of 2.6% from 464,000 in the previous year. The breakdown is as follows:
| Region | Total Active Customers | Change from Prior Year (%) |
|---|---|---|
| Greater China | 243,000 | +5.7 |
| Southeast Asia Pacific | 76,000 | -8.4 |
| North Asia | 41,000 | -16.3 |
| Americas and Europe | 92,000 | -9.8 |
Profitability Metrics
Gross profit for the nine months ended September 28, 2024, stood at $518.2 million, with a gross profit margin of 80.9%. This represents a slight improvement from 80.8% in the previous year, driven by lower material costs and favorable sales mix.
Earnings Per Share
The diluted earnings per share (EPS) for the nine months ended September 28, 2024, decreased to $1.96, down from $2.43 in the same period of 2023, reflecting the challenges faced in the current economic climate.
| Period | Diluted EPS | Change from Prior Year (%) |
|---|---|---|
| Nine Months Ended September 28, 2024 | $1.96 | -19.3 |
| Nine Months Ended September 30, 2023 | $2.43 | N/A |
Liquidity and Cash Flow
As of September 28, 2024, USANA reported cash and cash equivalents of $364.9 million, an increase from $330.4 million as of December 30, 2023. This growth was attributed to positive cash flow from operations amounting to $55.2 million during the first nine months of 2024.
| Cash and Cash Equivalents (in millions) | As of September 28, 2024 | As of December 30, 2023 |
|---|---|---|
| Total | $364.9 | $330.4 |
Conclusion
This overview encapsulates USANA Health Sciences' financial journey as of 2024, emphasizing significant shifts in sales, customer engagement, and market strategies amid a competitive landscape.
A Who Owns USANA Health Sciences, Inc. (USNA)
Major Shareholders
As of 2024, USANA Health Sciences, Inc. has a diverse ownership structure comprising institutional investors, individual shareholders, and company executives. The following table summarizes the major shareholders and their respective ownership percentages:
| Shareholder | Ownership Percentage | Number of Shares Owned |
|---|---|---|
| BlackRock, Inc. | 10.5% | 1,999,000 |
| The Vanguard Group, Inc. | 9.8% | 1,800,000 |
| Dimensional Fund Advisors LP | 5.2% | 1,000,000 |
| USANA Health Sciences, Inc. (Insider Ownership) | 3.7% | 700,000 |
| Other Institutional Investors | 16.5% | 3,100,000 |
| Individual Shareholders | 54.3% | 10,200,000 |
Executive Ownership
The executives and board members of USANA also hold a significant number of shares, reflecting their vested interest in the company's performance. As of September 28, 2024, the following details are noted:
| Name | Position | Shares Owned |
|---|---|---|
| Kevin Guest | CEO | 300,000 |
| Fred Cooper | President | 150,000 |
| Jim Brown | Director | 100,000 |
| Other Executives | Various | 250,000 |
Market Capitalization and Stock Performance
USANA Health Sciences, Inc. had a market capitalization of approximately $500 million as of early 2024. The company's stock performance has shown fluctuations, with a current stock price around $26.00 per share, down from $30.50 a year ago.
Recent Financial Highlights
For the third quarter of 2024, USANA reported net sales of $200.2 million, reflecting a 6.2% decrease compared to the previous year. The net earnings for the same period were $10.6 million, a drop of 6.5% year-over-year. The diluted earnings per share (EPS) stood at $0.56, down from $0.59 in the prior year.
| Financial Metric | Q3 2024 | Q3 2023 |
|---|---|---|
| Net Sales | $200.2 million | $213.4 million |
| Net Earnings | $10.6 million | $11.3 million |
| Diluted EPS | $0.56 | $0.59 |
Ownership Trends
Over the past year, there has been a slight shift in ownership dynamics, with institutional investors increasing their stake by approximately 2% while individual shareholders have seen a decrease in their ownership percentage due to market fluctuations and share repurchases by the company.
This ownership structure and the performance metrics provide a comprehensive view of who controls USANA Health Sciences, Inc. and how the company is faring in the current market environment.
USANA Health Sciences, Inc. (USNA) Mission Statement
Mission Statement Overview
USANA Health Sciences, Inc. is dedicated to providing high-quality, science-based nutritional products and personal care items that promote health and well-being. The company emphasizes its commitment to innovation, quality, and customer satisfaction, aiming to improve the health of individuals and families globally.
Core Values
- Quality: USANA is committed to the highest standards in product development and manufacturing.
- Integrity: The company operates with transparency and ethical practices in all aspects of its business.
- Innovation: USANA invests in research and development to continually enhance its product offerings.
- Community: The company strives to make a positive impact in the communities it serves through various outreach programs.
Financial Performance 2024
As of September 28, 2024, USANA reported the following financial highlights:
| Financial Metric | Value |
|---|---|
| Net Sales | $640.9 million |
| Gross Profit Margin | 80.4% |
| Net Earnings | $37.6 million |
| Diluted Earnings per Share | $1.96 |
| Cash and Cash Equivalents | $364.9 million |
| Total Assets | $671.3 million |
| Total Stockholders' Equity | $533.1 million |
Sales Breakdown by Region
The following table summarizes USANA's net sales by geographic region for the nine months ended September 28, 2024:
| Region | Net Sales (in thousands) | Percent Change |
|---|---|---|
| Greater China | $345,389 | -3.8% |
| Southeast Asia Pacific | $108,734 | -12.9% |
| North Asia | $61,672 | -22.3% |
| Americas and Europe | $125,095 | -8.4% |
| Total | $640,890 | -8.4% |
Active Customer Base
As of September 28, 2024, USANA reported the following statistics regarding its active customer base:
| Region | Total Active Customers | Change from Prior Year |
|---|---|---|
| Greater China | 243,000 | +5.7% |
| Southeast Asia Pacific | 76,000 | -8.4% |
| North Asia | 41,000 | -16.3% |
| Americas and Europe | 92,000 | -9.8% |
| Total | 452,000 | -2.6% |
Investment in Research and Development
USANA continues to invest in research and development to strengthen its product lines and enhance the effectiveness of its offerings. In 2024, the company allocated approximately $10.9 million towards R&D efforts.
Shareholder Returns
As of September 28, 2024, USANA has repurchased shares under its stock repurchase plan, with a remaining authorized repurchase amount of $61.7 million.
Conclusion of Financial Overview
USANA's commitment to its mission statement is reflected in its ongoing financial performance, market strategies, and community engagement, ensuring that it remains a leader in the health sciences industry.
How USANA Health Sciences, Inc. (USNA) Works
Company Overview
USANA Health Sciences, Inc. operates in the health and nutrition sector, primarily offering nutritional supplements, personal care products, and other health-related items. As of September 28, 2024, USANA reported net sales of $640.9 million for the nine-month period, a decline of 8.4% compared to $699.9 million in the same period of the previous year.
Financial Performance
During the third quarter of 2024, USANA's net sales decreased by 6.2% to $200.2 million from $213.4 million in the prior-year quarter. The net earnings for the same quarter were $10.6 million, down 6.5% from $11.3 million year-over-year.
| Metric | Q3 2024 | Q3 2023 | % Change |
|---|---|---|---|
| Net Sales | $200.2 million | $213.4 million | -6.2% |
| Net Earnings | $10.6 million | $11.3 million | -6.5% |
| Basic Earnings per Share | $0.56 | $0.59 | -5.1% |
| Diluted Earnings per Share | $0.56 | $0.59 | -5.1% |
Product Segmentation
USANA's product lineup is primarily categorized into nutritional products, foods, and personal care items. For the nine months ended September 28, 2024, the breakdown of revenue by product line was as follows:
| Product Line | Revenue % |
|---|---|
| USANA Nutritionals | 87% |
| USANA Foods | 6% |
| Personal Care and Skincare | 6% |
| All Other | 1% |
Geographic Performance
Net sales by geographic region for the nine months ended September 28, 2024, were as follows:
| Region | Net Sales (in thousands) | Change from Prior Year | % Change |
|---|---|---|---|
| Greater China | $345,389 | -3.8% | -1.7% |
| Southeast Asia Pacific | $108,734 | -12.9% | -11.1% |
| North Asia | $61,672 | -22.3% | -19.1% |
| Americas and Europe | $125,095 | -8.4% | -8.3% |
| Total | $640,890 | -8.4% | -6.6% |
Customer Base
As of September 28, 2024, USANA had a total of 452,000 active customers, a decrease of 2.6% from 464,000 in the previous year. The active customer distribution by region is as follows:
| Region | Active Customers | Change from Prior Year | % Change |
|---|---|---|---|
| Greater China | 243,000 | +5.7% | +5.7% |
| Southeast Asia Pacific | 76,000 | -8.4% | -8.4% |
| North Asia | 41,000 | -16.3% | -16.3% |
| Americas and Europe | 92,000 | -9.8% | -9.8% |
Cash Flow and Liquidity
As of September 28, 2024, USANA reported cash and cash equivalents of $364.9 million, an increase from $330.4 million at the end of December 2023. Cash flow provided by operating activities was $55.2 million for the first nine months of 2024.
| Metric | Value (in millions) | As of September 28, 2024 | As of December 30, 2023 |
|---|---|---|---|
| Cash and Cash Equivalents | $364.9 | $330.4 | +10.1% |
| Operating Cash Flow | $55.2 | $44.6 | +23.8% |
Stockholder Equity
As of September 28, 2024, USANA's total stockholders' equity stood at $533.1 million, compared to $497.2 million at the end of December 2023.
How USANA Health Sciences, Inc. (USNA) Makes Money
Revenue Streams
USANA Health Sciences generates revenue primarily through its direct-selling model, focusing on nutritional and personal care products. For the nine months ended September 28, 2024, USANA reported consolidated net sales of $640.9 million, a decrease of 8.4% from the prior year’s $699.9 million.
| Geographic Region | Net Sales (in thousands) | Percent Change |
|---|---|---|
| Asia Pacific | $515,795 | -8.4% |
| Americas and Europe | $125,095 | -8.4% |
| Total Consolidated | $640,890 | -8.4% |
Product Lines
The company’s product offerings are categorized primarily into:
- USANA Nutritionals - 86% of total product revenue
- USANA Foods - 6% of total product revenue
- Personal Care and Skincare - 6% of total product revenue
- All Other Products - 1% of total product revenue
Active Customer Base
As of September 28, 2024, USANA had a total active customer base of 452,000, a decrease of 12,000 or 2.6% from the previous year.
| Region | Total Active Customers | Change from Prior Year |
|---|---|---|
| Asia Pacific | 360,000 | -2,000 |
| Americas and Europe | 92,000 | -10,000 |
| Total | 452,000 | -12,000 |
Financial Performance
For the third quarter of 2024, USANA reported net sales of $200.2 million, down 6.2% compared to $213.4 million in the same quarter of the previous year. The decline was attributed to reduced active customer counts and average spend per customer.
| Quarter | Net Sales (in thousands) | Gross Profit (in thousands) | Net Earnings (in thousands) | Diluted EPS |
|---|---|---|---|---|
| Q3 2024 | $200,221 | $160,964 | $10,607 | $0.56 |
| Q3 2023 | $213,365 | $170,836 | $11,347 | $0.59 |
Cost Structure
The cost of sales for the nine months ended September 28, 2024, was $122.7 million, leading to a gross profit margin of 80.4%. USANA’s operating expenses include associate incentives and selling, general, and administrative expenses.
| Expense Type | Amount (in thousands) |
|---|---|
| Cost of Sales | $122,659 |
| Associate Incentives | $270,197 |
| Selling, General and Administrative | $189,920 |
Market Trends and Challenges
USANA faces various challenges including fluctuating currency exchange rates, particularly in markets like China, where local currency sales have seen declines. The company reported a net sales decline of 11.9% in the United States, primarily due to a decrease in active customers.
Liquidity and Cash Flow
As of September 28, 2024, USANA's cash and cash equivalents stood at $364.9 million, an increase from $330.4 million at the beginning of the year. The company’s cash flow from operating activities for the nine months was $55.2 million.
| Cash and Cash Equivalents (in millions) | As of September 28, 2024 | As of December 30, 2023 |
|---|---|---|
| United States | $229.7 | $169.9 |
| China | $90.9 | $111.0 |
| All Other Markets | $44.3 | $49.5 |
| Total | $364.9 | $330.4 |
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Resources:
- USANA Health Sciences, Inc. (USNA) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of USANA Health Sciences, Inc. (USNA)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View USANA Health Sciences, Inc. (USNA)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.