Herbalife International
February 14, 2023
LOS ANGELES, February 14, 2023 -- Herbalife Nutrition Ltd. reported fourth-quarter 2022 net sales of 1.2 billion dollars, down 10.4 percent from a year earlier, or 4.2 percent in constant currency. Diluted EPS was 0.55 dollars and adjusted EBITDA was 130.7 million dollars. Full-year net sales were 5.2 billion dollars, down 10.3 percent, or 5.4 percent in constant currency, with reported diluted EPS of 3.23 dollars and adjusted EBITDA of 694.5 million dollars.
The company said it is not providing fiscal 2023 guidance given macroeconomic volatility. Its Transformation Program is expected to deliver annual savings of at least 70 million dollars, roughly half in 2023. During the fourth quarter it reduced nominal debt by about 60 million dollars.
Chairman and chief executive Michael O. Johnson said the company has aligned with distributors behind strategies to refresh the business and return to growth, while chief financial officer Alex Amezquita said free cash flow in 2023 is expected largely to go toward reducing debt toward a long-term leverage target.