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USANA Health Sciences (USNA) Q2 2024 earnings summary

Event summary combining transcript, slides, and related documents.

Logotype for USANA Health Sciences Inc

Q2 2024 earnings summary

3 Feb, 2026

Executive summary

  • Q2 2024 net sales declined 10.6%–11% year-over-year to $212.9–$213 million, with diluted EPS down 39% to $0.54 and active customers falling 3.9%–4% to 468,000, driven by lower customer counts, reduced promotional activity, and macroeconomic pressures.

  • Net earnings for Q2 2024 were $10.4 million, down 39.7% from the prior year, due to decreased sales, higher operating expenses, and a higher effective tax rate.

  • Strategic initiatives include commercial team restructuring, product innovation, India expansion, M&A, and increased associate engagement.

  • Leadership strengthened with new EVP of R&D and promotion of China GM to drive growth.

  • Balance sheet remains strong with $332–$332.4 million in cash, zero debt, and $8 million in Q2 operating cash flow.

Financial highlights

  • Gross margin for Q2 2024 was 81.1% of net sales, down 70 basis points year-over-year due to FX and lower sales leverage.

  • Operating margin for the first half was around 9.5%–9.6%, with FY24 guidance revised to 8.0%–8.8%.

  • Diluted EPS for Q2 2024 was $0.54, a 39%–39.3% decrease from the prior year.

  • Cash and cash equivalents increased to $332.4 million as of June 29, 2024.

  • No share repurchases in Q2; $61.7–$62 million remains authorized.

Outlook and guidance

  • FY24 net sales outlook revised to $850–$880 million, with diluted EPS guidance at $2.40–$2.55.

  • Net sales expected to be negatively impacted by ~$20 million from FX for FY24.

  • Annual effective tax rate now expected at 43–44%.

  • Second half sales expected to be flat to down mid-single digits, with operating margin below 9% due to ongoing investments.

  • Management believes current liquidity is adequate to meet cash requirements and sustain operations.

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