Let’s dig into the relative performance of Herbalife (NYSE: HLF) and its peers as we unravel the now-completed Q2 personal care earnings season.

While personal care products may seem more discretionary than food, consumers tend to maintain or even boost their spending on the category during tough times. This phenomenon is known as "the lipstick effect" by economists, which states that consumers still want some semblance of affordable luxuries like beauty and wellness when the economy is sputtering. Consumer tastes are constantly changing, and personal care companies are currently responding to the public’s increased desire for ethically produced goods by featuring natural ingredients in their products.

The 9 personal care stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 1.7% while next quarter’s revenue guidance was 1.5% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.7% since the latest earnings results.

Herbalife (NYSE: HLF)

With the first products sold out of the trunk of the founder’s car, Herbalife (NYSE: HLF) today offers a portfolio of shakes, supplements, personal care products, and weight management programs to help customers reach their nutritional and fitness goals.

Herbalife reported revenues of $1.33 billion, up 5.4% year on year. This print exceeded analysts’ expectations by 1.5%. Despite the top-line beat, it was still a mixed quarter for the company with full-year EBITDA guidance slightly topping analysts’ expectations but a significant miss of analysts’ EPS estimates.

Herbalife delivered the weakest guidance update of the whole group. The market seems disappointed with the results as the stock is down 3% since reporting and currently trades at $12.23.

Read our full report on Herbalife here, it’s free.

Best Q2: e.l.f. Beauty (NYSE: ELF)

Short for "eyes, lips, face", e.l.f. Beauty (NYSE: ELF) is a developer of high-quality beauty products at accessible price points.

e.l.f. Beauty reported revenues of $479.4 million, up 35.5% year on year, outperforming analysts’ expectations by 11%. The business had a stunning quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ gross margin estimates.

e.l.f. Beauty scored the biggest analyst estimate beat, fastest revenue growth, and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 14.1% since reporting. It currently trades at $98.58.

Is now the time to buy e.l.f. Beauty? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Nature's Sunshine (NASDAQ: NATR)

Started on a kitchen table in Utah, Nature’s Sunshine (NASDAQ: NATR) manufactures and sells nutritional and personal care products.

Nature's Sunshine reported revenues of $117 million, up 1.9% year on year, falling short of analysts’ expectations by 5.4%. It was a disappointing quarter as it posted a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

Nature's Sunshine delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. As expected, the stock is down 29.5% since the results and currently trades at $14.34.

Read our full analysis of Nature's Sunshine’s results here.

Medifast (NYSE: MED)

Known for its Optavia program that combines portion-controlled meal replacements with coaching, Medifast (NYSE: MED) has a broad product portfolio of bars, snacks, drinks, and desserts for those looking to lose weight or consume healthier foods.

Medifast reported revenues of $76.38 million, down 27.6% year on year. This result beat analysts’ expectations by 5.1%. Overall, it was a stunning quarter as it also recorded EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

Medifast scored the highest guidance raise but had the slowest revenue growth of the whole group. The stock is up 19.3% since reporting and currently trades at $11.62.

Read our full, actionable report on Medifast here, it’s free.

USANA (NYSE: USNA)

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.

USANA reported revenues of $223.3 million, down 5.3% year on year. This print missed analysts’ expectations by 5%. More broadly, it was a mixed quarter as it also produced a solid beat of analysts’ EBITDA estimates but a significant miss of analysts’ EPS estimates.

The stock is down 42% since reporting and currently trades at $13.22.

Read our full, actionable report on USANA here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.