eXp World Holdings Inc., the parent company of eXp Realty and Virbela, has begun the process of acquiring SUCCESS Enterprises, with completion expected in early 2021. The purchase will involve SUCCESS Enterprises’ related media properties, including SUCCESS print magazine, SUCCESS.com, SUCCESS newsletters, podcasts, digital training courses and affiliated social media accounts across platforms. SUCCESS is a 123-year-old company well known in the personal development space. It had a global market value of $38 billion in 2019, according to Grand View Research. eXp will be able to expand its offerings using SUCCESS’s platforms along with eXp’s immersive 3D Virbela technology, to create an ecosystem for content, coaching, training and events. SUCCESS and its assets were previously owned by Success Partners, based in Plano, Texas.
Nu Skin Enterprises Inc. (NUS—NYSE) reported 19 percent revenue growth for the third quarter and 37 percent earnings per share growth and raised its guidance for 2020. Revenue was $703.3 million compared to $589.9 million for the same period the previous year with an EPS of $1.08. Customers were up 28 percent at 1.5 million. The company delivered strong double-digit growth in the Americas, Pacific and EMEA regions, with modest growth throughout most of Asia. Dividend payments were $19.2 million with stock repurchases of $20.0 million. Looking ahead to the fourth quarter, the company anticipates revenue of $720 million to $750 million and earnings per share of $1.10 to $1.20. It is raising its 2020 revenue guidance to $2.55 billion to $2.58 billion and anticipates annual earnings per share of $3.35 to $3.45
LifeVantage Corp. (LFVN—NASDAQ) reported revenue of $54.8 million, a decline of 2.5 percent from the prior year period, for its first quarter ended September 30, 2020. Revenue in the Americas decreased 3.7 percent and revenue in Asia/Pacific & Europe increased 0.7 percent. Total active accounts decreased 3.9 percent sequentially to 172,000, while declining 5.0 percent compared to the prior year period. Earnings per diluted share were $0.17, up 41.7 percent over the prior year period. Adjusted earnings per diluted share were up 92.3 percent to $0.25, compared to $0.13 in the prior year period. Adjusted EBITDA increased 42.5 percent compared to the prior year period to $6.7 million. The company repurchased 136,000, or $2.0 million, of common shares, and had a strong balance sheet with $18.0 million of cash and no debt.
Herbalife Nutrition Ltd. (HLF—NYSE) reported net sales were $1.5 billion for the third quarter ended September 30, 2020, an increase of 22.3 percent compared to the third quarter 2019 and represents the largest quarterly result in company history. Net sales increased 25.1 percent during the third quarter compared to 2019. Volume points were 1.9 billion, also a quarterly record for the company, increasing 23.2 percent compared to the third quarter 2019. Third quarter 2020 reported diluted EPS of $1.04 and adjusted diluted EPS of $1.15, compared to $0.58 and $0.73, respectively, for the third quarter 2019. During the third quarter, the company repurchased approximately 16.4 million of its common shares at an aggregate cost of approximately $800 million. Fourth-quarter guidance and FY 2020 net sales guidance ranges were 10.0 percent to 20.0 percent and 12.2 percent to 14.7 percent growth, respectively.
Medifast Inc. (MED—NYSE), the parent company of OPTAVIA, reported revenue increased 42.8 percent to $271.5 million for the third quarter ended September 30, 2020. OPTAVIA-branded products represented 83.0 percent of consumable units sold for the third quarter compared to 78.0 percent for the same period a year ago. The total number of active earning OPTAVIA Coaches increased 30.7 percent to 42,100, compared to 32,200 for 2019. The average revenue per active earning OPTAVIA Coach was $6,329 compared to $5,715 last year. Third quarter net income was $34.5 million, or $2.91 per diluted share, an increase of 116.7 percent. The company declared a quarterly cash dividend of $13.4 million, or $1.13 per share that was payable on November 6, 2020. There are approximately 2.3 million shares of common stock remaining.
Turkish cosmetics company Farmasi has bought a site in Sweetwater, Florida, for its new U.S. headquarters. The lot, at 10751 N.W. 25th St., sits on 3.72 acres and was purchased for $6 million, or $37 per square foot, according to CBRE Group, the realtor that represented the seller, REMS Group. Farmasi plans on building an 80,000-square-foot headquarters and fully automated distribution center in Sweetwater and currently rents warehouse space in Doral. The company started its pharmaceutical business in 1960 and expanded into cosmetics in 1995. It sells products in 25 countries.