Herbalife International
May 1, 2024
LOS ANGELES, May 1, 2024 --
Herbalife reported first-quarter 2024 net sales of 1.264 billion dollars, up 1.0 percent from a year earlier and up 2.4 percent on a constant-currency basis, marking a second consecutive quarter of year-over-year sales growth.
Net income was 24.3 million dollars, or 0.24 dollars per diluted share, while adjusted EBITDA of 138.3 million dollars beat guidance and adjusted EBITDA margin rose 60 basis points to 10.9 percent. The company recognized about 17 million dollars of pre-tax restructuring expenses tied to an organizational plan expected to save at least 80 million dollars annually beginning in 2025.
Chairman and Chief Executive Michael Johnson said cost reductions drove the adjusted EBITDA outperformance. Herbalife reaffirmed full-year net sales guidance of flat to up 5 percent, raised adjusted EBITDA guidance to 550 million to 590 million dollars, and cut capital-expenditure guidance to 120 million to 150 million dollars.