Benzinga | Sep 17, 2021 07:50AM EDT

USANA Health Sciences Cuts FY21 Guidance

* USANA Health Sciences Inc (NYSE:USNA) reported preliminary third-quarter FY21 net sales of $265 million - $270 million, versus the consensus of $303.24 million. It reported net sales of $299 million in the prior year period.

* EPS of $1.28 - $1.33 versus the consensus of $1.44. It reported EPS of $1.44 in the last year.

* "Our sales results for the third quarter have been softer than we anticipated, largely because of increased disruptions and lockdowns in several of our markets due to the escalation of the COVID-19 pandemic," said CEO and Chairman Kevin Guest.

* The company's Board has increased its share repurchase authorization to $150 million.

* Outlook: USANA has cut FY21 sales guidance to $1.18 billion - $1.20 billion (prior $1.24 billion - $1.28 billion) versus the consensus of $1.26 billion.

* The company lowered its FY21 EPS outlook to $5.80 - $6.00 (prior $6.15 - $6.50) versus the consensus of $6.35.

* Price action: USNA shares closed lower by 0.05% at $87.46 on Thursday.