USANA Health Sciences (NYSE:USNA) is up 12.2% in afternoon trading Wednesday after announcing a Q2 earnings beat after-hours on Tuesday.
USANA announced reported earnings of $2.07 per share and revenue of $259 million, beating our Zacks Consensus Estimate of $1.93 per share and $252 million respectively. Based in Salt Lake City, UT, USANA develops and manufactures nutritional, personal care, and weight management products.
“USANA generated solid results during the second quarter, which were in line with our expectations,” said Dave Wentz, USANA’s co-CEO. “Our results reflect the momentum in our business and the demand for our high-quality products from our customers.”
Net sales increased by 15.1% in the Asia-Pacific region, with a 17.4% increase in Greater China, 11.1% increase in Southeastern Asia, and an 8.8% increase in Northern Asia. The company managed to boost performance despite a negative impact from a stronger U.S. dollar.
The company has a strong balance sheet, currently holding $112.4 million cash and cash equivalents, with no debt as of the end of the second quarter.
The surge today is mainly due to an increase in the company's full fiscal year guidance. The company currently expects earnings per share between $7.90 and $8.20, up from their previous guidance of $7.60 to $8.15. However, estimates on consolidated net sales remains the same, at between $1.02 and $1.05 billion.
USANA Health Sciences currently sits at a Zacks Rank #3 (Hold).
USANA HLTH SCI (USNA): Free Stock Analysis Report
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