Herbalife Ltd. Announces Record Second Quarter 2013 and Raises 2013 Earnings Guidance
- Second quarter worldwide volume growth of 14 percent compared to the prior year period.
- Second quarter adjusted1 EPS of $1.41 increased 29 percent compared to the prior year period.
- Raising FY’13 adjusted EPS guidance to a range of $4.83 to $4.95.
- Generated $214 million in operating cash flow during the second quarter
- Board of directors approved a $0.30 per share quarterly dividend.
LOS ANGELES–(BUSINESS WIRE)– Herbalife Ltd. (NYSE: HLF) today reported second quarter net sales of $1.2 billion, reflecting an increase of 18 percent compared to the same time period in 2012, on volume point growth of 14 percent. Adjusted1 net income for the quarter of $150.7 million, or $1.41 per diluted share, compares to the second quarter 2012 net income of $132.0 million and EPS of $1.09, respectively. On an as reported basis, second quarter 2013 EPS of $1.34 increased 23 percent compared to the $1.09 reported in the comparable quarter last year.
“We reported our fifteenth quarter in a row of double digit top-line growth, reflecting the success that our products and distribution model are having in markets around the world helping to mitigate the adverse effects of the obesity epidemic. The second quarter record results for volume point and net sales were driven by the ongoing engagement of our distributors and consumer demand for our weight loss and nutrition products worldwide,” said Michael O. Johnson, Herbalife’s chairman and CEO.
For the quarter ended June 30, 2013 the company generated cash flow from operations of $213.8 million, an increase of 56 percent compared to 2012; paid dividends of$30.9 million and invested $31.3 million in capital expenditures.