Company News, Financial News

Herbalife Continues to Climb

Sales top $1 billion in quarter

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By: TOM BRANNA

Editor

Bill Ackman got it wrong on Herbalife this year…by a long shot. The company's shares have climbed 53% since the beginning of the year. In the final minutes of trading today, shares hit $57.85, an increase of 3.5% in the past 12 months. Herbalife Ltd. today reported third-quarter profit of $93.6 million. Ackman, the billionaire hedge fund manager, has been betting against Herbalife for years—railing that the direct seller is merely a Ponzi scheme.

The George Town, Cayman Islands-based company said it had net income of $1.09 per share. Earnings, adjusted for non-recurring costs and asset impairment costs, were $1.28 per share.
 

The seller of supplements and weight-loss products posted revenue of $1.1 billion in the period.
 

For the current quarter ending in December, Herbalife expects its per-share earnings to range from 85 cents to 95 cents. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.07.
 

The company expects full-year earnings in the range of $4.65 to $4.75 per share.

 

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