The following is a summary of the Herbalife Ltd. (HLF) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Herbalife reported Q1 2024 net sales of $1.3 billion, up 1% from Q1 2023, and EBITDA of $138 million, exceeding guidance.

• The company managed to grow its adjusted EBITDA margin by 60 basis points YoY.

• Following a $1.6 billion refinancing in April, Herbalife has decreased its total leverage ratio from 3.9x to 3.6x.

• The company aims to bring down its total leverage ratio even further to reach 3x by the end of 2025.

• Herbalife's restructuring has so far delivered savings and is expected to reap $40 million in savings in 2024 and at least $80 million annually from 2025.

Business Progress:

• Herbalife has recently undergone organizational restructuring, enhancing its distributor recruitment and margins, along with a strategic partnership in the direct selling industry.

• The company is looking forward to launching products catered towards market trends in wellness, beauty, and weight loss.

• Initiatives like the Herbalife Premier League have been launched to facilitate distributor engagement and sales.

• Technology enhancements, including the adoption of AI and digital capabilities, are in progress for both distributors and customers.

• The company is venturing into digital transformation with the launch of the Herbalife One project and planning to implement customer fitness tracking tools.

• The company is leaning towards respecting environment-friendly packaging options for its new product line.

More details: Herbalife IR

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