Health and wellness products company USANA Health Sciences (NYSE:USNA) reported Q1 CY2026 results topping the market’s revenue expectations, but sales were flat year on year at $250 million. The company’s full-year revenue guidance of $962.5 million at the midpoint came in 2.5% above analysts’ estimates. Its non-GAAP profit of $0.61 per share was 38.6% above analysts’ consensus estimates.
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USANA (USNA) Q1 CY2026 Highlights:
- Revenue: $250 million vs analyst estimates of $241 million (flat year on year, 3.7% beat)
- Adjusted EPS: $0.61 vs analyst estimates of $0.44 (38.6% beat)
- Adjusted EBITDA: $28.36 million vs analyst estimates of $22.23 million (11.3% margin, 27.6% beat)
- The company reconfirmed its revenue guidance for the full year of $962.5 million at the midpoint
- Management reiterated its full-year Adjusted EPS guidance of $2.12 at the midpoint
- EBITDA guidance for the full year is $105 million at the midpoint, above analyst estimates of $100.2 million
- Market Capitalization: $342.6 million
Company Overview
Going to market with a direct selling model rather than through traditional retailers, USANA Health Sciences (NYSE:USNA) manufactures and sells nutritional, personal care, and skincare products.
Revenue Growth
Reviewing a company’s long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul.
With $925.7 million in revenue over the past 12 months, USANA is a small consumer staples company, which sometimes brings disadvantages compared to larger competitors benefiting from economies of scale and negotiating leverage with retailers.
As you can see below, USANA’s demand was weak over the last three years. Its sales fell by 1.7% annually, a tough starting point for our analysis.
This quarter, USANA’s $250 million of revenue was flat year on year but beat Wall Street’s estimates by 3.7%.
Looking ahead, sell-side analysts expect revenue to grow 3.3% over the next 12 months. Although this projection suggests its newer products will fuel better top-line performance, it is still below the sector average.
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Cash Is King
Although earnings are undoubtedly valuable for assessing company performance, we believe cash is king because you can’t use accounting profits to pay the bills.
USANA has shown mediocre cash profitability relative to peers over the last two years, giving the company fewer opportunities to return capital to shareholders. Its free cash flow margin averaged 2.9%, below what we’d expect for a consumer staples business.
Key Takeaways from USANA’s Q1 Results
We were impressed by how significantly USANA blew past analysts’ EBITDA expectations this quarter. We were also glad its EPS outperformed Wall Street’s estimates. Zooming out, we think this was a good print with some key areas of upside. The stock traded up 2.9% to $19.80 immediately after reporting.
USANA put up rock-solid earnings, but one quarter doesn’t necessarily make the stock a buy. Let’s see if this is a good investment. The latest quarter does matter, but not nearly as much as longer-term fundamentals and valuation, when deciding if the stock is a buy. We cover that in our actionable full research report which you can read here (it’s free).
