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USANA Health Sciences Inc. (USNA) CEO Kevin Guest on Q2 2020 Results - Earnings Call Transcript

USANA Health Sciences Inc. (USNA) CEO Kevin Guest on Q2 2020 Results - Earnings Call Transcript

USANA Health Sciences Inc. (USNA) CEO Kevin Guest on Q2 2020 Results - Earnings Call Transcript

USANA Health Sciences, Inc. (USNA)

Q2: 07-21-20 Earnings Summary

EPS of $1.32 beats by $0.13
Revenue of $258.99M (1.16% Y/Y) misses by $-8.81M

Subscribers Only

USANA Health Sciences Inc. (NYSE:USNA) Q2 2020 Results Conference Call July 22, 2020 11:00 AM ET

Company Participants

Patrique Richards - Executive Director, Investor Relations & Business Development

Kevin Guest - Chairman & Chief Executive Officer

Doug Hekking - Chief Financial Officer

Conference Call Participants

Steph Wissink - Jefferies

Doug Lane - Lane Research

Ivan Feinseth - Tigress Financial Partners


Good day and welcome to the USANA Health Sciences' Second Quarter Conference Call. Today's conference is being recorded. At this time, I'd like to turn the conference over to Mr. Patrique Richards, Executive Director of Investor Relations and Business Development. Please go ahead, sir.

Patrique Richards

Thank you and good morning. We appreciate you all joining us this morning to discuss our second quarter. Today's conference call is being broadcast live via webcast and can be accessed directly from our website at ir.usana.com. Shortly following the call, a replay will be available on our website.

As a reminder, during the course of this conference call, management will make forward-looking statements regarding future events or the future financial performance of our company. Those statements involve risks and uncertainties that could cause actual results to differ perhaps materially from the results projected in such forward-looking statements. Examples of these statements include those regarding our strategies and outlook for fiscal year 2020 as well as uncertainty related to the magnitude, scope and duration of the impact of the COVID-19 pandemic to our business, operations and financial results. We caution you that these statements should be considered in conjunction with disclosures, including specific risk factors and financial data contained in our most recent filings with the SEC.

I'm joined this morning by our CEO and Chairman of the Board, Kevin Guest; President, Jim Brown; our Chief Financial Officer, Doug Hekking; as well as other executives. Yesterday after the market closed, we announced our second quarter results and posted our management commentary, results and outlook document on the company's website.

We'll now hear brief remarks from Kevin before opening the call for questions.

Kevin Guest

Good morning and thank you for joining us to review our second quarter. Over these past several months, we've proven to be nimble and adaptive and our results reflect these efforts. Our employees have adjusted quickly to working from home and are providing our customers with the same great customer experience and level of service they have come to expect.

We also remain committed to executing on our many growth initiatives and continue to focus on the long-term growth of USANA. Not surprisingly, our associates are extremely resourceful. They are leveraging social media and other technology based tools provided by USANA to reach more customers who are looking for high quality health and wellness products such as ours.

We also deployed several successful promotions during the quarter. These promotions helped generate additional momentum in customer growth that we expect to continue in the back half of the year. We also successfully hosted our first all virtual Asia-Pacific Convention. Each year, we host several live events that are well attended. And a large part of the camaraderie [ph] and culture of USANA. While we are disappointed to break the tradition this year, we were pleased with the attendants of the event and have received positive feedback from attendees. While we look forward to resuming live events in the future, we are making the most of our virtual events in 2020 and leveraging the repurpose resources to reach even larger audience.

Before opening the call for questions, I'll comment briefly on our expectations and outlook for the back half of the year. While we recognize that we cannot anticipate all of the challenges that might arise as a result of the ongoing with COVID-19 pandemic, we believe we've positioned ourselves well to continue adapting to an evolving operating environment. The health, wellness and safety of our employees, associates and customers around the world remain our top priorities and our operating plan will continue to reflect those priorities. Accordingly, many of our employees will continue to work from home and our manufacturing and shipping employees will continue to work under our new operating procedures for the foreseeable future.



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