Herbalife Nutrition released its financial report for the third quarter of 2021, announcing net sales of $1.4 billion, a 6% decrease compared to the same quarter last year. Net income for the quarter reached $117.4 million, with an adjusted EBITDA of $222.4 million. Both adjusted diluted EPS and adjusted EBITDA exceeded the high-end of the guidance ranges issued mid-September.
The company attributes its decline in sales to a challenging year-over-year comparison, but points to an actual net sales growth of 15% when compared to the third quarter of 2019. This was also evident in the company’s number of new distributors and preferred customers, which was down compared to the third quarter of 2020, but up 28% compared to the same quarter of 2019.
“Over the course of the global pandemic, we have delivered unprecedented business performance and growth,” said John Agwunobi, Chairman and Chief Executive Officer, Herbalife Nutrition. “Despite challenging comparison periods in the third and fourth quarters, we remain on track for another record sales year. The fundamental tailwinds driving the global nutrition industry, along with demand for our science-based nutrition products, continue to benefit the company.”
Also of note during the third quarter was the repurchase of approximately 3.5 million shares for a total of $162 million. Full year 2021 guidance continues to feature a net sales growth of 4.5%-8.5%, adjusted diluted EPS of $4.55-$4.95 per diluted share and adjusted EBITDA of $860-$910 million.