On this page of StockholderLetter.com we present the 3/31/2023 shareholder letter from USANA HEALTH SCIENCES INC — ticker symbol USNA. Reading current and past USNA letters to shareholders can bring important insights into the investment thesis.

 •  3/31/2023 Letter Continued (Full PDF)
 •  3/27/2024 USNA Stockholder Letter
 •  4/9/2025 USNA Stockholder Letter
 •  4/7/2026 USNA Stockholder Letter
 •  More "Consumer Goods" Category Stockholder Letters
 •  USNA Benford's Law Stock Score = 95

USNA 3/31/2023 Shareholder/Stockholder Letter Transcript:

Dear Shareholders,
In 2022, we celebrated our 30th anniversary, and we
couldn   t be more proud of the positive impact USANA
has had on millions of lives over the past three decades.
We look forward to having an even greater impact in the
decades to come. We would like to thank you, our valued
shareholders, for your continued support of USANA   s
mission, which is centered on improving the health and
wellness of individuals and families across the world. We
strive to achieve this mission by setting long-term goals
with the following objectives as key focal points:
1.
Providing the highest quality and best-in-class
nutritional products to our customers around the
world.
2.
Offering an excellent customer experience.
3.
Growing our worldwide business by emphasizing
active customer growth while delivering value to
our shareholders and other stakeholders.
4. Enhancing our global sustainability efforts by
giving back and improving society through the
efforts of employees, customers, and the USANA
Foundation.
Fiscal 2022 presented a challenging operating
environment for both USANA and our industry.
The continuing COVID-19 pandemic and in   ationary
pressure negatively impacted our world-wide business,
particularly in our Asia Paci   c region. Notwithstanding
these challenges, we generated $104 million of operating
cash    ow during the year, ended the year with $288
million in cash and remained debt free. During the year,
we also continued to focus on executing our long-term
growth strategy, and made progress in several areas that
position USANA for future growth. These areas included:
    Execution of various digital commerce initiatives
to support our business, including (i) digital
investments to enhance our overall customer
experience, (ii) advancing our new Associate
onboarding program and training platforms,
(iii) improvements to our China shopping app,
worldwide shopping carts, and other customer
facing platforms;
    The launch of our Affilate sales program in select
markets, which provides a new, simple, and easy
way for sellers, social in   uencers, and customers to
experience success sharing USANA   s best-in-class
products;
    Acceleration of our market expansion readiness to
prepare us to launch a new market later in 2023; and
    The completion of two acquisitions which have
signi   cant growth potential, diversify our sales and
customer base, and add experience and expertise to
key areas of our business.
immediate and long-term global food relief for those in
severe need. The foundation carries out its mission by
leading a network of community-driven partnerships to
nourish those in need, equip individuals to better nourish
themselves, and help eliminate hunger throughout the
world. In 2022, the USANA Foundation:
    Provided approximately 13 million meals.
    Provided approximately $1.2 million in aid and grants
to partner charities around the world.
    Distributed weekly backpacks of food for children in
42 schools to take home on the weekend.
    Supported 44 additional schools by providing large
packs of food for children to take home during long
holiday breaks.
    Gifted over 10,500 bottles of children's vitamins to
some of the most malnourished children in Africa.
    Donated over 32,000 garden towers.
ESG
Our ESG strategy centers on three main pillars   products,
people, and planet   that encompass where we are
focusing our sustainability efforts now and in the future.
In 2023, our initiatives include increasing education and
awareness on reducing the impact of our packaging
on the environment, completing at least 2,500 hours
of employee volunteer time, and improving our water,
energy, and waste efficiency.
Enhancing the Experience
Providing the best customer experience and increasing
the number of active customers in our business continue
to be our top priorities, and in 2023 we plan to execute on
the following strategies to accomplish our goals:
    Returning to live sales meetings and events around
the world.
    Generating sales and customer growth in both
existing and new markets.
    Launching a new market.
    Offering new incentive opportunities for our
salesforce.
    Pursuing growth opportunities through business
development activities.
    Continuing to invest in digital commerce to support
our sales force and overall business.
Our team is con   dent that these strategies will strengthen
our global business and position us for growth around
the world. We thank our customers, Associate sales force,
employees, and other stakeholders around the world for
their signi   cant contributions to our mission.
Giving Back
The USANA Foundation, which is the charitable arm of
our business, continued to ful   ll its mission of providing
KEVIN GUEST
Chief Executive Officer and Chairman of the Board

3/31/2023 Letter Continued (Full PDF)

 

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