Herbalife shares rise after earnings beat, raised guidance
Herbalife Ltd shares rose 1.4% in Wednesday after-hours trading after the company reported second-quarter earnings that beat expectations and raised its full-year guidance. Herbalife reported a net loss of $22.9 million, or 28 cents per share, compared with net income of $82.8 million, or 97 cents per share, for the same period last year. Adjusted earnings, which excludes the impact of $203 million in regulatory settlements, were $1.29 a share, beating the FactSet consensus of $1.21. Revenue totaled $1.20 billion for the quarter, up from $1.16 billion for the same period last year and beating the $1.19 billion FactSet consensus. Herbalife sees full-year adjusted EPS in the range of $4.50 to $4.80, up from previous guidance of $4.40 to $4.75, but below the FactSet consensus of $4.82. Herbalife shares are up 34.7% for the past year while the S&P 500 Index rose 3.1% for the same period.
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