Herbalife Ltd. yielded a profit of $93.6 million in the third quarter, the nutrition company said Tuesday.
The shake and supplement seller reported net income of $1.09 per share, compared to 13 cents per share a year ago. Excluding one-time costs, earnings were $1.28 per share, exceeding management’s guidance of $1.00 to $1.10 and the Zacks Concensus Estimate of $1.07.
Expenses incurred in the quarter included $4.7 million related to regulatory inquiries and $2.8 million spent responding to attacks on the company’s business model.
Third-quarter revenue was $1.1 billion, down 12 percent on a reported basis and up 5 percent in constant currency. Analysts had expected revenue of $1.15 billion. The most significant revenue growth came from China, where constant currency sales spiked 27 percent. The company’s weakest performance came from the Asia Pacific region outside China, which reported a 16 percent revenue decline.
The company provided fourth-quarter earnings guidance of 85 cents to 95 cents per share on an adjusted basis, reflecting an unfavorable currency impact of about 27 cents per share. Excluding currency impact, adjusted earnings are expected to fall within the range of $1.12 to $1.22 per share.
For the full year, the company now expects earnings in the range of $4.65 to $4.75, up from its previous guidance of $4.50 to $4.70.
Shares in Herbalife, up 53 percent this year, fell 2.7 percent in after-market trading on Tuesday.
