Herbalife International
May 4, 2021
Herbalife Nutrition reported first-quarter net sales of 1.5 billion dollars for the period ended March 31, 2021, up 18.9 percent from a year earlier and a company record for a first quarter. Reported diluted earnings were 1.33 dollars a share and adjusted diluted earnings were 1.42 dollars a share, up 61.4 percent on an adjusted basis.
Chairman and chief executive John Agwunobi said five of six regions grew, with North America, Asia Pacific, and EMEA each up more than 20 percent. India set another quarterly sales record with growth of 37 percent. March worldwide net sales were described as a single-month record. The company raised full-year 2021 net sales guidance to growth of 9.0 percent to 15.0 percent and raised reported and adjusted earnings ranges.
Chief financial officer Alex Amezquita said the company bought back about 621 million dollars of shares in the quarter and still had nearly 1.5 billion dollars left on a multiyear repurchase authorization. Sports nutrition sales rose about 34 percent in the quarter, targeted nutrition rose 21 percent, and weight management rose 16 percent.