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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Herbalife Ltd | NYSE:HLF | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 9.58 | 44 | 11:34:11 |
Herbalife Ltd. on Tuesday lifted its earnings outlook for the year, though the nutritional-products company logged a decline in volume for its third quarter despite double-digit growth in China.
Shares, up 53% this year, fell 2.5% in after-hours trading.
Herbalife sells a range of products, including weight-loss shakes and fitness supplements, operating through a global network of independent distributors.
The company has been embroiled in a public battle with Pershing Square Capital Management LP's William Ackman, who has attempted to convince other investors that Herbalife is a pyramid scheme. Herbalife has denied the accusations, but shares of the company have been volatile since Mr. Ackman first disclosed a billion-dollar bet against the company in December 2012.
In the latest quarter, world-wide volume slipped 3%, as 24% growth in China was offset by a 6% decline in North America, a 15% drop in Asia Pacific and a 5% slump in Mexico.
Overall, the company reported earnings of $93.6 million, or $1.09 a share, compared with year-earlier earnings of $11.2 million, or 13 cents a share.
The quarter included $2.8 million in expenses incurred to respond to attacks on the company's business model and $4.7 million in expenses related to regulatory inquiries.
Excluding those and other special items, per-share earnings were $1.28 a share.
Sales fell 12% to $1.1 billion, but would have grown 5% excluding currency swings.
Analysts polled by Thomson Reuters expected $1.05 a share in adjusted earnings and $1.15 billion in revenue.
For the 2015 year, the company now expects earnings, excluding items, of $4.65 to $4.75 a share, up from its previous range of $4.50 to $4.70 a share in earnings.
For 2016, the company forecast adjusted earnings of $4.35 to $4.75 a share, including a 50 cent headwind from currency fluctuations.
Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 03, 2015 17:45 ET (22:45 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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