Natures Sunshine Products Inc (NATR) · Nov 4, 2026 · Earnings
Miss — Diluted EPS $0.11 vs ~$0.27 consensus; sales $116.6M vs ~$130M consensus
Nature’s Sunshine earnings missed on revenue and EPS, while a second 2026 guidance cut confirms China’s disruption is worsening the growth reset.
Nature’s Sunshine is trying to rebuild growth through its digital business while repairing weakness in China; after Q2, management had already lowered 2026 expectations because of China softness, but still described constant-currency growth across most regions.
The quarter was materially below the market bar. Sales fell 9% to $116.6 million, or 7% excluding currency, versus roughly $130 million of published consensus; diluted EPS was $0.11 versus roughly $0.27 expected. The shortfall was broad enough to matter: Asia dropped 11.2% in constant currency, while North America declined 6.0%.
| Metric | Q3 2026 | Q3 2025 | Market / prior guide |
|---|---|---|---|
| Net sales (Financial Statements) | $116.6M (-9.1%) | $128.3M | ~$130M consensus |
| Diluted EPS (Financial Statements) | $0.11 | $0.30 | ~$0.27 consensus |
| Adjusted EBITDA (EBITDA reconciliation) | $11.1M (-26.6%) | $15.2M | — |
| FY2026 net sales outlook (Outlook) | $460–470M | — | $490–500M prior guide |
| FY2026 adjusted EBITDA outlook (Outlook) | $44–48M | — | $48–52M prior guide |
This is an operational setback, not just currency noise. Management said disruptions in China hurt its consultant leadership base more than expected, while continued digital investment is pressuring near-term profitability. That combination undercuts both the China recovery and the digital-growth narrative that had supported the prior outlook. 〔0〕
The guidance cut is the more consequential signal. The company reduced its full-year sales range by $30 million at the midpoint and its adjusted EBITDA range by $4 million at the midpoint, after already cutting both ranges in Q2. This makes the issue a worsening business reset rather than a one-quarter miss.
Cash generation also weakened sharply. Nine-month operating cash flow fell to $9.7 million from $25.4 million, even though the company remained debt-free with $89.4 million of cash. The balance sheet still provides room to invest, but the lower cash conversion makes the turnaround more dependent on execution rather than simply funding.
Bottom line: This was a clear miss with another guidance cut, showing that China’s disruption is deeper and the digital investment burden heavier than previously expected. The company remains financially stable, but its near-term growth-recovery story has weakened materially.
Q4 earnings report, early 2027
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