Herbalife Reports Third Quarter Results
LOS ANGELES--Herbalife Ltd. reports results for the third quarter ended September 30, 2017.
'During this year of transition, we believe our performance has now stabilized and we are seeing improvements in trends,' said Rich Goudis, CEO of Herbalife. 'By continuing to implement our strategic plan, we expect to build on the improving trends and return to growth in 2018.'
For the third quarter 2017, the company reported net sales of $1.1 billion, which represents a decline of 3.3% and 4.0% on an as reported and constant currency basis, respectively, compared to the third quarter 2016.
Third quarter 2017 volume points of 1.3 billion declined 5.6% compared to the prior year period.
On a reported basis, third quarter 2017 net income was $54.5 million, or $0.66 per diluted share, compared to third quarter 2016 net income of $87.7 million, or $1.01 per diluted share.
Adjusted earnings for the third quarter 2017 was $0.82 per diluted share compared to $1.21 per diluted share for the third quarter of 2016.
For the full year 2017, the company is narrowing its 2017 reported and adjusted diluted EPS guidance to ranges of $3.90 to $4.10 and $4.42 to $4.62, respectively, from the previous ranges of $3.80 to $4.20 and $4.30 to $4.70, respectively.
For the full year 2018, the company is providing initial volume guidance in the range of 2% to 6% growth and initial full year 2018 GAAP diluted and adjusted diluted EPS guidance in the range of $3.82 to $4.22 and $4.60 to $5.00, respectively.
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