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Nature's Sunshine Products Inc. (NATR+1.62%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details that the company reported net sales of $454.4 million for 2024, an increase from $445.3 million in 2023. This growth was primarily driven by increased sales in the Asia and Europe segments.
Cost of sales for the year was $129.7 million, or 28.5% of net sales, compared to 27.9% in the previous year. The increase in cost ratio is attributed to inflation and unfavorable foreign exchange rates.
The company reported a gross profit of $324.7 million for 2024, up from $321.1 million in 2023. Operating income was $20.1 million, compared to $18.7 million in the prior year.
Selling, general, and administrative expenses decreased to $164.0 million from $167.1 million, primarily due to streamlined global overhead expenses and reduced service fees in China.
Net income for the year was $7.9 million, down from $16.4 million in 2023. The decline is attributed to higher income tax provisions and foreign exchange losses.
Cash provided by operating activities was $25.3 million, while cash used in investing and financing activities was $11.0 million and $9.9 million, respectively.
Nature's Sunshine had a working capital of $94.9 million as of December 31, 2024. The company maintains a revolving credit agreement with Bank of America, N.A., with no outstanding balance as of the end of the fiscal year.
The filing also highlights various risks, including regulatory compliance, foreign exchange fluctuations, and potential impacts from geopolitical issues.
Nature's Sunshine Products Inc. continues to focus on expanding its market presence and enhancing its product offerings in the health and wellness sector.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Nature's Sunshine Products Inc. annual 10-K report dated March 11, 2025. To report an error, please email earnings@qz.com.