Thursday
February
11
2016
11:11 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
 
How prepared are you for your retirement?

All set
Getting there
Need to put more away
Not prepared at all

 

 
San Mateo Community College District
 
 
 
Congress gives final OK to banning local Internet taxes
WASHINGTON — Congress voted Thursday to permanently bar state and local governments from taxing ac..
Breakthrough: Scientists detect Einstein-predicted ripples
WASHINGTON — In an announcement that electrified the world of astronomy, scientists said Thursday ..
Pentagon chief predicting 'tangible gains' in Iraq, Syria
BRUSSELS — U.S. Defense Secretary Ash Carter predicted on Thursday that recent U.S.-led efforts to..
More >>  
 
 
  
 
  
 
©2016 San Mateo Daily Journal
San Mateo County advertising