After a Record-Breaking Year in 2018 – Herbalife Nutrition Reports Highest First Quarter Volume Points in Company History
LOS ANGELES, Herbalife Nutrition Ltd. (NYSE: HLF) reported financial results for the first quarter ended March 31, 2019.
Reported net sales of $1.2 billion included growth in four of our six regions and was approximately flat compared to first quarter 2018. Excluding China, netsales increased 6% compared to the first quarter 2018. Volume points of 1.5 billion increased 6% compared to the prior year period, the highest first quarter in Company history. Excluding China, volume points increased 10% compared to the prior year period.
Firstquarter reported diluted EPS of $0.66 and adjusted earnings of $0.66per adjusted diluted share, both of which were negatively impacted by expenses of approximately $0.7million or $0.00 per diluted share and adjusted diluted share, respectively, related to the China Growth and Impact Investment Program.
In mid-April, the Chinese government concluded a 100-day review of the health products industry, which led to a significant decrease in company and service provider meetings during the first quarter. While the Company and service providers are proceeding in a methodical manner, local government approvals for meetings in Mayare ramping up significantly and meetings have already begun.
Due to this recent slowdown in China, the Company is revising full year 2019 volume point guidance to a range of 0.5% – 6.5% growth ,net sales guidance to a range of (1.0%) – 5.0%, as well as reported and adjusted 1,3 diluted EPS guidance to a range of $2.19 – $2.64 and $2.50 – $2.95, respectively.
“In the first quarter of 2019, the momentum of our geographically diverse business continued with net sales growth in four of our six regions. We are confident that our strategies will drive volume growth in 2019.” said Michael O. Johnson, Chairman and CEO of Herbalife Nutrition.
Photo by Herbalife Nutrition