Herbalife Posts Upbeat Q3 Profit, But Sales Miss Estimates

reported better-than-expected earnings for the third quarter on Tuesday, but the company's sales missed analysts' estimates. The company reported quarterly earnings of $93.6 million, or $1.09 per share, compared to $11.2 million, or $0.13 per share, in the year-earlier quarter. On an adjusted basis, Herbalife's earnings came in at $1.28 per share. Its net sales slipped 12 percent to $1.1 billion. However, analysts were expecting earnings of $1.05 per share on revenue of $1.15 billion. Michael Johnson, chairman and CEO said, "The improving trends we continue to see in both performance and member metrics reinforce our belief that we are building an Herbalife focused on creating the very best customer and member experience while delivering long term value for our shareholders." Herbalife now expects 2015 adjusted earnings of $4.65 to $4.75 per share, versus prior forecast of $4.50 to $4.70 per share. It also projects FY16 adjusted earnings of $4.35 to $4.75 per share, versus analysts' estimates of $5.18 per share. Herbalife shares fell 2.75 percent to $56.30 in the after-hours trading session.