Herbalife Q2 net sales $1.3B (-5.7% YoY); EPS $0.60; board member becomes CSO; targets Q4 growth

HERBALIFE LTD.

2023-Q2 EPS reported $0.89 revenue$2,566,100,000

Q2 net sales $1.3B, down 5.7% YoY (4.2% constant currency); net income $59.9M.
Diluted EPS $0.60; adjusted diluted EPS $0.74; adjusted EBITDA $169.6M.
Transformation Program: at least $90M annual cost savings expected; $45M anticipated in 2023.
Stephan Gratziani resigned from Board to become Chief Strategy Officer effective August 1, 2023.
Management states on track to return to growth in fourth quarter 2023.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Stephan Gratziani

Director

HLF · HERBALIFE LTD.

Effective: 2023-08-01
Filed: August 2, 2023, 7:59 PM ET

On August 1, 2023, Mr. Stephan Gratziani resigned from the Company’s Board of Directors (the “Board”) and agreed to become an employee of the Company in the role of Chief Strategy Officer.

Appointed

Stephan Gratziani

Chief Strategy Officer

HLF · HERBALIFE LTD.

Effective: 2023-08-01
Filed: August 2, 2023, 7:59 PM ET

On August 1, 2023, Mr. Stephan Gratziani resigned from the Company’s Board of Directors (the “Board”) and agreed to become an employee of the Company in the role of Chief Strategy Officer.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HERBALIFE LTD. reported second quarter ended June 30, 2023 results: revenue $1.3 billion, net income $59.9 million, EPS $0.60.

Period: second quarter ended June 30, 2023
Revenue: $1.3 billion
Net income: $59.9 million
EPS: $0.60
Result: reported results

Exact text from the filing

Second quarter 2023 net sales of $1.3 billion, down 5.7% compared to second quarter 2022; on a constant currency basis 1 , net sales declined 4.2% compared to the prior year period Year-over-year reported net sales trends improved for two sequential quarters Second quarter 2023 reported net income of $59.9 million and adjusted EBITDA 2 of $169.6 million Second quarter 2023 reported diluted EPS of $0.60 and adjusted diluted EPS 2 of $0.74

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephan Gratziani resigned as Director at HERBALIFE LTD..

Action: resigned
Role: Director

Exact text from the filing

On August 1, 2023, Mr. Stephan Gratziani resigned from the Company’s Board of Directors (the “Board”) and agreed to become an employee of the Company in the role of Chief Strategy Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Stephan Gratziani was appointed as Chief Strategy Officer at HERBALIFE LTD..

Action: agreed to become
Role: Chief Strategy Officer

Exact text from the filing

On August 1, 2023, Mr. Stephan Gratziani resigned from the Company’s Board of Directors (the “Board”) and agreed to become an employee of the Company in the role of Chief Strategy Officer.

View on SEC.gov

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HERBALIFE LTD. filing history →

Source: SEC EDGAR

accession 0001157523-23-001228

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