On this page of StockholderLetter.com we present the 3/27/2024 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.

 •  3/27/2024 Letter Continued (Full PDF)
 •  3/31/2023 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 3/27/2024 Shareholder/Stockholder Letter Transcript:

ANNUAL
REPORT
2023

Dear Shareholders,
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.
    !.%*#  * !4 !((!*0  1/0+)!. !4,!.%!* !  
3.
Growing our worldwide business by emphasizing
active customer growth while delivering value to
our shareholders and other stakeholders.
4.  
  *$ * %*# +1. #(+  ( /1/0 %*  %(%05 !  +.0/  5
giving back and improving society through the
!  +.0/ +" !),(+5!!/    1/0+)!./    * 0$!        
Foundation.
The operating environment in many of our markets in
  /  (          3 /  $ ((!*#%*#  / 0$! 3+.(   +*0%*1!  0+
.! +2!. ".+) 0$! , * !)%    %*   0%+* !/  ( 0!     *  
other economic factors adversely impacted consumer
behavior and our ability to generate top-line momentum.
 !/,%0! 0$!/! !40!.* ( $!  3%* /   3! #!*!. 0!        
)%((%+* +" +,!. 0%*#   /$   +3   !* !  0$! 5! . 3%0$ 
         )%((%+* +" *!0   /$ +* +1.   ( * ! /$!!0  *   .!
essentially debt free.
Building on Operating Strengths
 1.%*#          3! )  ! )! *%*#"1( ,.+#.!// +* /!2!. (
strategic initiatives that will support future growth in
 1/0+)!./  * *!0 / (!/    +. !4 ),(!   3! +   % ((5
launched operations in India, the Company   s 25th global
) .'!0   3$% $ %/   /%#*%    *0 )%(!/0+*! "+.            $%/
new market was several years in the making and would
not have been possible without our team   s diligent work
 * !  +.0   * %  %/  * !4 %0%*#  *  +),!((%*# ) .'!0
opportunity and we believe that our best-in-class health
and wellness products, and our business model, are
ideally suited for this market. Although we believe it will
take some time to generate momentum in this market,
we believe India is a meainginful long-term growth
opportunity for USANA.
             !.%*# !*$ * !    ) .'!0  /,! %    %* !*0%2!/ 0$ 0
target customer and sales growth;
    Pursuing customer and sales growth through
business development activities, including M&A; and
    Continuing to invest in digital commerce, product
development initiatives, and AI to support our sales
force and overall business.
Giving Back
The USANA Foundation, which is the charitable arm of
+1.  1/%*!//    +*0%*1! 0+ "1(  (( %0/ )%//%+* +" ,.+2% %*#
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
3+.(    *            0$!          +1*  0%+* ,.+2% !     )+*#
other things:
           2!.      )%((%+* )! (/  
    Aid and grants to partner charities around the world;
    Backpacks of food for at-risk children in local
schools to take home on the weekend and during
long holiday breaks; and
    Children's vitamins to malnourished children around
the world.
Sustainability
Our sustainability strategy centers on three main pillars   
,.+ 1 0/   ,!+,(!    * ,( *!0   *            +1. %*%0% 0%2!/
will continue to include, among other things, increasing
education and awareness on reducing the impact of our
,  ' #%*# +* 0$! !*2%.+*)!*0    +),(!0%*#  0 (! /0           
hours of employee volunteer time, and improving our
3 0!.   !*!.#5    * 3 /0! !   %!* 5  
 1. 0! ) %/  +*   !*0 0$ 0 0$!/! /0. 0!#%!/ 3%(( /0.!*#0$!*
our global business and position us for growth around
the world. We thank our customers, Associate sales force,
!),(+5!!/    * +0$!. /0 '!$+( !./ "+. 0$!%. /%#*%    *0
contributions to our mission.
Enhancing the Experience
 .+2% %*# 0$!  !/0  1/0+)!. !4,!.%!* !  * %* .! /%*#
the number of active customers in our business continue
0+  ! +1. 0+, ,.%+.%0%!/    * %*          3! ,( * 0+ !4! 10! +*
the following strategies to accomplish our goals:
    Further increasing engagement with our Associate
(!  !./ 0+ "1.0$!. /1,,+.0 0$! !4, */%+* +" 0$!%.
businesses;
    Growing our core markets around the world, with an
emphasis on China and our new India business;
JIM BROWN
  $%!"  4! 10%2!     !.  *   .!/% !*0

3/27/2024 Letter Continued (Full PDF)

 

Nothing in StockholderLetter.com is intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners. None of the information contained herein constitutes a recommendation that any particular security, portfolio, transaction, or investment strategy is suitable for any specific person. All viewers agree that under no circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you agree to the following Full Disclaimer & Terms of Use and Privacy Policy.