Usana Health Sciences shares declined more than -17% Wednesday, following the company’s release of preliminary fiscal second-quarter estimates that fell short of analysts' forecasts.
The multi-level marketer of nutritional products is now expecting second-quarter earnings in the range of 91 cents to 95 cents per share, below the $1.36 a share in the year-earlier period. Analysts polled by FactSet were expecting second-quarter earnings of $1.31 a share.
The company is estimating sales for the quarter to come in within a range of $253 million to $256 million, compared to analysts’ expectations of $307.4 million.
CEO Kevin Guest indicated that weakness in China throughout the second quarter proved to be more challenging for Usana than previously anticipated.