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Los Angeles, California-based Herbalife Nutrition Ltd. has reported financial results for the first quarter ended March 31, 2018. Net sales increased 7 percent over the prior year to $1.2 billion. The company exceeded first quarter net sales guidance as well as the high end of reported and adjusted diluted EPS guidance by 18 cents and 30 cents, respectively; therefore, it raised the full year 2018 guidance.
“We reported higher than expected results and returned to growth in the U.S., reflecting the efforts of our entrepreneurial distributors, who are meeting the needs of consumers around the world,” said CEO Rich Goudis. “We are confident about Herbalife Nutrition’s bright future and, accordingly, we have raised our guidance for the full year, as we continue to execute on our strategy to drive long-term growth and fulfill our mission of making the world healthier and happier through personalized nutrition.”
Reported net sales for North America for the first quarter were $231 million, a 0.06 percent increase over 2016. Mexico saw an 8.8 percent increase to $144 million, while South and Central America had a 2.7 percent increase to $125 million.
In EMEA (Europe, Middle East, Africa), sales increased 18.3 percent to $248 million.
In Asia Pacific, sales increased 11.8 percent to $245 million. China reported sales of $212 million, a 1.6 percent decrease.
To read the full Herbalife Q1 2018 report, click here.