Herbalife Ltd. (NYSE: HLF) today reported financial results for the third quarter ended September 30, 2024:
“Our financial foundation is strong. Third quarter net sales were in line with our expectations, adjusted EBITDA1 exceeded guidance and distributor recruiting is up worldwide year-over-year. Our new business initiatives are taking root as we continue on our path to sustainable top-line growth.”
– Michael Johnson, Chairman and CEO
Highlights
Third Quarter 2024
Net sales of $1.2 billion, down 3.2% vs. Q3 ’23 including 290 basis points of FX headwinds
Net sales nearly flat year-over-year on constant currency basis2
Net income of $47.4 million; adjusted net income1 of $58.0 million
Adjusted EBITDA1 of $166.5 million exceeds guidance; adjusted EBITDA1 margin up 70 basis points year-over-year
Recognized pre-tax gain on sale of property of approximately $4 million; excluded from adjusted results
Diluted EPS of $0.46; adjusted diluted EPS1 of $0.57
Net cash provided by operating activities of $99.5 million; capital expenditures of approximately $27 million
Credit Agreement EBITDA1 $197.2 million; total leverage ratio reduced to 3.3x at September 30
Management Commentary
In August, the Company launched its all-new Diamond Development Mastermind Program in the U.S., an ongoing training and accountability program led by President Stephan Gratziani and supported by network marketing industry leader and coach, Eric Worre.
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