Herbalife Nutrition Ltd. (NYSE: HLF) today reported financial results for the third quarter ended September 30, 2020:
- Reported net sales of $1.5 billion for the third quarter 2020 increased 22.3% compared to the third quarter 2019 and represents the largest quarterly result in Company history.
- Excluding the impact of foreign exchange rates and Venezuela, net sales increased 25.1% during the third quarter compared to 2019. ▪
- Volume points of 1.9 billion, also a quarterly record for the Company, increased 23.2% compared to the third quarter 2019.
- This is the tenth consecutive quarter of year-over-year volume point growth.
- Year-over-year volume point growth in all six geographic regions with four of six regions delivering double-digit increases.
- Third quarter 2020 reported diluted EPS of $1.04 and adjusted1 diluted EPS of $1.15, compared to $0.58 and $0.73, respectively, for the third quarter 2019, which were negatively impacted in 2020 by expenses of approximately $3.2 million, or $0.02 per diluted share, and in third quarter 2019 of $5.8 million, or $0.03 per diluted share, related to the China Growth and Impact Investment Program.
- During the third quarter, the Company repurchased approximately 16.4 million of its common shares at an aggregate cost of approximately $800 million, including $750 million from the modified Dutch auction tender offer completed in August 2020.
- Providing Q4 and FY 2020 net sales guidance ranges of 10.0% – 20.0% and 12.2% – 14.7% growth, respectively.
- Initial FY 2021 net sales guidance range of 3.0% – 11.0% growth, as well as reported and adjusted1 diluted EPS guidance ranges of $3.50 – $4.00 and $3.65 – $4.15, respectively.
About Herbalife Nutrition Ltd.
Herbalife Nutrition is a global company that has been changing people’s lives with great nutrition products and a proven business opportunity for its independent distributors since 1980.
The Company offers high-quality, science-backed products, sold in over 90 countries by entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company’s global campaign to eradicate hunger, Herbalife Nutrition is also committed to bringing nutrition and education to communities worldwide. For more information please visit www.herbalife.com
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