Herbalife Ltd. released its first quarter 2024 financial results, demonstrating that it has achieved its second consecutive quarter of year-over-year net sales growth. Net Sales reached $1.3 billion, a 1% increase from the same quarter of 2023, and net income totaled $24.3 million. Adjusted EBITDA was $138.3 million, exceeding guidance, with a diluted EPS of $0.24 and an adjusted diluted EPS of $0.49.
The company’s previously announced organizational restructuring plan is expected to streamline its employee structure and accelerate productivity, delivering an annual savings of at least $80 million by 2025. The company also completed a $1.6 billion senior secured refinancing, which included $800 million aggregate principal amount of 12.25%, due April 2029; $400 million senior secured Term Loan B facility, due April 2029; and $400 million senior secured revolving credit facility, due April 2028.
“The business continues to strengthen,” said John DeSimone, Herbalife Chief Financial Officer. “We are taking swift actions to expand margins, maximize shareholder value and reduce our total leverage ratio to 3.0x by the end of 2025.”
