August 02, 2017
Herbalife Net Sales Down 5% for Q2 2017
Los Angeles-based Herbalife Ltd. recently announced its financial results for the second quarter ended June 30, 2017. The wellness company reported net sales of $1.1 billion, which represents a decline of 5 percent and 3 percent on an as-reported and constant currency basis, respectively, compared to the second quarter 2016.
“With the successful implementation of tracking consumer retail transactions in the U.S., we are now entering into a new chapter for the company,” said Rich Goudis, CEO of Herbalife. “Through technology innovations, and changes in our marketing plan here in the U.S., we are now collecting millions of customer receipts each month, and we know this will help our distributors create more compelling connections with their customers everywhere and anytime. With much of the transition behind us, we can now pivot back to an acute focus on growth.”
Second quarter volume points of 1.4 billion declined 8 percent, compared to the prior year period. On a reported basis, second quarter 2017 net income was $137.6 million, or $1.61 per diluted share, compared to a second quarter 2016 net loss of $22.9 million, or (28 cents) per diluted share.
Adjusted earnings for the second quarter was $1.51 per diluted share compared to $1.29 per adjusted diluted share for the second quarter of 2016.
For the full year 2017, the company is raising its 2017 reported and adjusted diluted EPS guidance to a range of $3.80 to $4.20 and $4.30 to $4.70, respectively; up from the previous ranges of $3.30 to $3.70 and $4.10 to $4.50, respectively.
To read the report, click here.