Herbalife Nutrition Ltd. (NYSE: HLF) today reported financial results for the second quarter ended June 30, 2021:
- Second quarter 2021 net sales of $1.6 billion, a 15% increase compared to the second quarter 2020.
- Five of six geographic regions reported year-over-year net sales growth in the quarter with four of six regions exceeding 20% growth.
- Second quarter 2021 reported diluted EPS of $1.31 and adjusted1 diluted EPS of $1.522, compared to $0.82 and $0.972, respectively, for the second quarter 2020. Second quarter 2021 reported and adjusted earnings per share increased 60% and 57%, respectively, compared to the second quarter 2020.
- Reported net income for the quarter of $144.2 million increased 25% compared to the second quarter 2020.
- Second quarter 2021 adjusted1 EBITDA of $262.1 million represents the largest quarterly adjusted EBITDA result in Company history.
- Updating FY 2021 guidance, including net sales guidance range to 8.5% to 12.5% growth, and adjusted3 diluted EPS guidance range to $4.70 – $5.10.
- Initiating FY 2021 adjusted3 EBITDA guidance of $875 million – $935 million.
“We delivered double-digit net sales growth for the fourth straight quarter,”
said John Agwunobi, Chairman and CEO of Herbalife Nutrition.
“All three of our core product categories grew double-digits, which includes the Energy, Sports and Fitness category, which increased 45% compared to the prior year.”
The demand for the Company’s full line of nutrition products contributed to double-digit growth in over 50 of the Company’s markets. In addition to the 45% growth in the Energy, Sports and Fitness category, the Company’s targeted nutrition category, which includes vitamins and supplements, grew by 19%, while the Company‘s core weight management product category grew by 12% in the quarter.
Five of the Company’s six regions experienced net sales growth with four of the regions increasing by more than 20%. In North America, net sales increased 7% compared to the second quarter of 2020. The Asia Pacific region had another quarter of substantial growth, up 38% compared to the prior year, led by India which grew 93% this quarter compared to Q2 2020. This growth was a testament to the Company’s distributors as pandemic conditions continued to impact the Asia Pacific region.
Additionally, reported net income for the quarter of $144 million increased 25% compared to the second quarter 2020. The company reported year-to-date net income of $292 million.
About Herbalife Nutrition Ltd.
Herbalife Nutrition (NYSE: HLF) is a global company that has been changing people’s lives with great nutrition products and a 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 around the world.
For more information, please visit IAmHerbalifeNutrition.com.
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