Saturday
September
05
2015
3:19 am
Weather

  Home
  Local News
  State / National / World
  Sports
  Opinion / Letters
  Business
  Arts / Entertainment
  Lifestyle
  Obituaries
  Calendar
  Submit Event
  Comics / Games
  Classifieds
  DJ Designers
  Archives
  Advertise With Us
  About Us
 
 
 
 
Herbalife raises profit outlook, cuts sales view
February 19, 2014, 05:00 AM The Associated Press

NEW YORK — Herbalife raised its 2014 net income guidance Tuesday after buying back hundreds of millions in stock.

Earlier this month the Los Angeles company increased its stock buyback program by $500 million. Share repurchases help support per-share earnings, and Herbalife now expects adjusted profit of $5.85 to $6.05 per share in 2014.

But the nutritional products seller sees sales rising 7.5 to 9.5 percent in 2014, or to about $5.19 billion to $5.28 billion, down from its October forecast of 9 to 11 percent growth.

FactSet says analysts expect net income of $5.87 per share and $5.31 billion in revenue.

Herbalife, which uses a network of distributors to sell its nutritional supplements and weight-loss products, has faced scrutiny over its business model. Hedge fund manager William Ackman has bet against the company, saying it operates a pyramid scheme. Ackman’s rival, Carl Icahn, disagrees and has invested in the company. Herbalife has denied Ackman’s allegations.

In the fourth quarter, Herbalife’s profit rose 10 percent to $123.5 million, or $1.15 per share. Excluding one-time items, earnings came to $1.28 per share, while grew 20 percent to $1.27 billion. Herbalife’s results were about equal to a forecast it gave earlier this month.

Shares of Herbalife Ltd. gained $1.03, or 1.5 percent, to $79.96 aftermarket. The stock has gained 78 percent over the past 12 months.

 

 

Tags: share, percent, herbalife, billion, company, stock,


Other stories from today:

 

 
Print this Page Print this Page  |  Bookmark and Share
<< Back
 
Return To Archives
 
  


 
 
 
Daily Journal Quick Poll
 
What is the best way to celebrate Labor Day?

Getting out of town
Not working
Spending time with friends and family
Getting ready for the fall

 

 
 
 
 
 
 
 
Brush fire near I-280 contained
A brush fire off the side of northbound Interstate 280 near Belmont has been contained, officials s..
US employers added 173K jobs in Aug.; rate falls to 5.1 pct.
WASHINGTON — The U.S. unemployment rate fell to a seven-year low in August as employers added a mo..
With clerk jailed, gay Kentucky couple gets marriage license
MOREHEAD, Ky. — A gay couple emerged from a Kentucky county clerk's office with a marriage license..
Benghazi panel interviews more of Clinton's inner circle
WASHINGTON — The chairman of a congressional panel investigating the deadly Benghazi attacks said ..
More >>  
 
 
  
 
  
 
©2015 San Mateo Daily Journal
San Mateo County courts