secwatch.observer — SEC 8-K summary
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Issuer:     HERBALIFE LTD. (HLF)
CIK:        0001180262
Form:       8-K
Filed at:   2023-05-02T23:59:59+00:00
Accession:  0001157523-23-000682
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.02, 5.02, 5.07, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Herbalife Q1 sales down 6.3% to $1.3B, EPS $0.29; COO Schissel retiring July 1
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- Net sales $1.3B, down 6.3% YoY (down 2.6% constant currency); reported net income $29.3M.
- Reported diluted EPS $0.29; adjusted diluted EPS $0.54; Adj EBITDA $128.9M.
- Transformation program one-time pre-tax expenses ~$27M in Q1; expects ~$35M savings in 2023, >$70M run rate by 2024.
- COO Mark Schissel to retire July 1, 2023; succeeded by Frank Lamberti, Regional President of Americas.
- Credit agreement amended to increase leverage covenant to 4.5x through Q4 2023, then step-down to 4.0x.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1180262/000115752323000682/0001157523-23-000682-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1180262/000115752323000682/a53391576.htm
  HTML page:      https://secwatch.observer/filing/0001157523-23-000682

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