Usana Health Sciences Drops After Cutting Full: year forecast

USANA Health Sciences

16/09/2021 22:27

** Shares of nutritional supplements maker  USNA.N  down
5.1% at $83 in extended trading - set to open at over
seven-month low
    ** Co cuts full-year sales and profit forecast blaming
softer-than-expected sales in Q3 due to increased disruptions
and lockdowns in several markets amid pandemic
    ** Stock set for seventh consecutive session of losses and
to extend this week's near 11% drop 
    ** Co says rising number of cases has affected its ability
to ship some products and, in some markets, co has had to delay
new product launches until 2022
    ** Cuts FY net sales forecast to $1.18 bln-$1.20 bln, from a
prior outlook of $1.24 bln-$1.28 bln; cuts EPS outlook to
$5.80-$6 from $6.15-$6.50
    ** Co expects Q3 net sales of $265 mln-$270 mln; consensus
estimate of two analysts polled by Refinitiv is $303.2 mln
    ** USNA up 13.4% so far this year  

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))