Nu Skin cuts Q2 EPS view to 82c-84c from 91c-98c, consensus 94c
Cuts Q2 revenue view to $622M-$623M from $660M-$680M, consensus $673.95M. CEO Ritch Wood says: "We are adjusting our guidance for the year primarily due to a reduced revenue outlook in Mainland China following the government's 100-day campaign to review and inspect the health products and direct selling industries. Continued restrictions on sales meetings, as well as media scrutiny, have negatively impacted consumer sentiment and contributed to this adjustment. While we anticipated we could begin holding meetings in the second quarter, meeting approvals for the industry have been significantly more restrictive than expected and remain limited. Additionally, the U.S. dollar has continued to strengthen, and we have adjusted our 2019 guidance to include a larger-than-anticipated foreign currency impact. We will provide more detail regarding results for the second quarter in our earnings release scheduled for Aug. 6."