Herbalife International
October 30, 2024
LOS ANGELES, October 30, 2024 --
Herbalife reported third-quarter 2024 net sales of 1.2 billion dollars, down 3.2 percent from a year earlier including 290 basis points of currency headwinds, or down 0.3 percent in constant currency. Net income was 47.4 million dollars, or 0.46 dollars per diluted share, and adjusted EBITDA of 166.5 million dollars exceeded guidance with margin up 70 basis points year over year.
Chairman and Chief Executive Michael Johnson said distributor recruiting rose worldwide year over year for a second straight quarter. The company said its restructuring program is on track for at least 80 million dollars of annual savings starting in 2025, including at least 50 million dollars in 2024, and that total leverage fell to 3.3 times. It also booked a roughly 4 million dollar pre-tax gain on the July sale-leaseback of its Torrance, California office building.
Herbalife narrowed full-year 2024 net sales guidance to down 2.0 percent to down 1.0 percent and raised adjusted EBITDA guidance to 590 million to 620 million dollars from 560 million to 600 million dollars.