Monday
September
01
2014
11:49 pm
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
 
 
 
 

Check out our archive of Dining Guides - Yum!

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 often do you go to San Francisco?

Five days a week, I work there
Every weekend
About once a month
Every few months
About once a year

 

 
 
 
 
 
 
Americans detained in North Korea call for U.S. help
PYONGYANG, North Korea — North Korea gave foreign media access on Monday to three detained America..
Four Phillies pitchers combine to no-hit Braves
ATLANTA — Cole Hamels and three Philadelphia Phillies relievers combined to pitch a no-hitter Mond..
Bicyclist robs man at gunpoint in South San Francisco
A man was robbed at gunpoint in South San Francisco early Monday morning, police said. The robbery ..
More >>  
 
 
  
 
  
 
©2014 San Mateo Daily Journal
San Mateo County open houses