$Herbalife (HLF.US)$ NEWS Herbalife Reports Year-Over-Year N...
NEWS
Herbalife Reports Year-Over-Year Net Sales Growth for Second Consecutive Quarter; Raises Full-Year 2024 Adjusted EBITDA¹ Guidance
Herbalife achieved year-over-year net sales growth for the second quarter in a row, with net sales of $1.3 billion, up 1.0% from 1Q '23.
The company exceeded adjusted EBITDA guidance, reporting $138.3 million in adjusted EBITDA for the first quarter.
Herbalife announced a new restructuring plan to streamline organizational structure, targeting at least $80 million in annual cost savings starting in 2025, with $40 million expected in 2024.
The company completed a $1.6 billion senior secured refinancing on April 12, improving its financial position.
Overall, Herbalife projects a positive outlook with revised full-year 2024 guidance, raising adjusted EBITDA1 and reducing capital expenditures while reaffirming net sales.
The company exceeded adjusted EBITDA guidance, reporting $138.3 million in adjusted EBITDA for the first quarter.
Herbalife announced a new restructuring plan to streamline organizational structure, targeting at least $80 million in annual cost savings starting in 2025, with $40 million expected in 2024.
The company completed a $1.6 billion senior secured refinancing on April 12, improving its financial position.
Overall, Herbalife projects a positive outlook with revised full-year 2024 guidance, raising adjusted EBITDA1 and reducing capital expenditures while reaffirming net sales.
The company recognized pre-tax expenses of approximately $17 million in SG&A related to the restructuring plan, which may impact short-term financial results.
The total program pre-tax expenses related to the restructuring plan are estimated to be at least $60 million, with severance costs contributing significantly to the expenses.
Herbalife incurred foreign currency headwinds of approximately $4 million in adjusted EBITDA1, affecting the overall financial performance.
Total capital expenditures for 2024 are expected to range from $120 million to $150 million, which may impact the company's financial position.
The total program pre-tax expenses related to the restructuring plan are estimated to be at least $60 million, with severance costs contributing significantly to the expenses.
Herbalife incurred foreign currency headwinds of approximately $4 million in adjusted EBITDA1, affecting the overall financial performance.
Total capital expenditures for 2024 are expected to range from $120 million to $150 million, which may impact the company's financial position.
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