MTEX

Appointment of Vice Chairman: Mannatech, Incorporated has appointed Robert A. Toth as Vice Chairman of the Board effective December 1, 2024, marking his return after previously serving on the Board from 2008 to 2023.

Toth's Experience and Contributions: With over 40 years in direct selling, including leadership roles at Avon International, Toth is expected to leverage his extensive international experience to help Mannatech achieve its global expansion goals.

Financial Performance Overview: Mannatech reported a net sales decrease of 2.5% to $31.7 million in Q3 2024, attributed mainly to weakened demand in Asia. Despite this, operating income increased to $0.9 million due to reduced selling and administrative expenses.

Operational Challenges and Future Outlook: The company faced a 28.1% decline in recruiting new associates compared to the previous year, with ongoing economic challenges expected to persist. CEO Landen Fredrick emphasized a commitment to revenue growth through expanding their sales team and customer base while maintaining strict cost controls.

Earnings Performance: Mannatech Inc. reported a loss of $0.33 million in Q3, compared to a profit of $0.02 million in the same quarter last year, with an EPS decline from $0.01 to -$0.17.

Revenue Comparison: The company's revenue decreased to $31.73 million in Q3, down from $32.55 million in the same period last year.

Insider Buying Activity: Director Tyler Rameson of Mannatech purchased 16,288 shares at $7.75 each, totaling $126,232 on Monday.

Current Stock Performance: Mannatech's stock is down approximately 0.1% as of Wednesday.

Mannatech Q2 2024 Results: Mannatech reported a second-quarter earnings per share of -33 cents and revenue of $27.74 million.

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Financial Performance: Mannatech reported a net sales decrease of 14.9% to $27.7 million for Q2 2024, attributed to supply chain constraints and weakening economic conditions in Asia, resulting in a loss from operations of $1.1 million.

Operational Insights: The company experienced a reduction in commission expenses by 12.5%, while selling and administrative expenses decreased by 17%, indicating efforts to control costs amid challenging market conditions.