HERBALIFE LTD. reported the fourth fiscal quarter ended December 31, 2022 results: revenue $1.2 billion, net income $54.4 million, EPS $0.55.
“Fourth quarter 2022 net sales of $1.2 billion, a 10.4% decrease compared to the fourth quarter 2021. On a constant currency basis 1 , net sales declined 4.2% compared to the prior year period. Fourth quarter 2022 reported diluted EPS of $0.55 and adjusted 2 diluted EPS of $0.53, compared to fourth quarter 2021 reported and adjusted 2 diluted EPS of $0.37 and $0.57, respectively. Fourth quarter 2022 reported net income of $54.4 million and adjusted 2 EBITDA of $130.7 million.”
Earnings Releases
HERBALIFE LTD. reported the fiscal year ended December 31, 2022 results: revenue $5.2 billion, net income $321.3 million, EPS $3.23.
“Full year 2022 net sales of $5.2 billion, a 10.3% decrease compared to the full year 2021. On a constant currency basis 1 , net sales declined 5.4% compared to the prior year. Full year 2022 reported diluted EPS of $3.23 and adjusted 2 diluted EPS of $3.40, compared to full year 2021 reported and adjusted 2 diluted EPS of $4.13 and $4.79, respectively. Full year 2022 reported net income of $321.3 million and adjusted 2 EBITDA of $694.5 million.”
Michael O. Johnson was appointed as Chief Executive Officer at HERBALIFE LTD..
“On December 22, 2022, Herbalife Nutrition Ltd. (the “Company”) and Herbalife International America, Inc. entered into an employment agreement with Michael O. Johnson (the “CEO Employment Agreement”) pursuant to which he will serve as the Company’s Chief Executive Officer.”
Debt Financings
HERBALIFE LTD. incurred convertible notes of $250.0 million with Initial Purchasers at 4.25% maturing June 15, 2028.
“On December 9, 2022, Herbalife Nutrition Ltd. (the “Company”) issued and sold $250.0 million aggregate principal amount of its 4.25% Convertible Senior Notes due 2028 (the “Notes”) to certain initial purchasers”
Earnings Releases
HERBALIFE LTD. reported third quarter ended September 30, 2022 results: revenue $1.3 billion, net income $82.2 million, EPS $0.83.
“Herbalife Nutrition Ltd. (NYSE: HLF) today reported financial results for the third quarter ended September 30, 2022: “Building momentum will be my top focus as I continue to work with this talented management team.” - Michael O. Johnson, Chairman and Interim CEO of Herbalife Nutrition Highlights Third quarter 2022 net sales of $1.3 billion, a 9.5% decrease compared to the third quarter 2021. On a constant currency basis 1 , net sales declined 3.5% compared to the prior year period. Third quarter 2022 reported diluted EPS of $0.83 and adjusted 2 diluted EPS of $0.91, compared to third quarter 2021 reported and adjusted 2 diluted EPS of $1.09 and $1.21, respectively. Third quarter 2022 reported net income of $82.2 million and adjusted 2 EBITDA of $182.8 million. During the third quarter, the Company reduced its debt levels by paying down $50 million of its revolving credit facility. Given the rapidly shifting macroeconomic sentiment and backdrop, as well as increased volatility in the m”
Alan Hoffman resigned as Executive Vice President of Global Corporate Affairs at HERBALIFE LTD..
“Further, on October 26, 2022, Alan Hoffman, the Company’s Executive Vice President of Global Corporate Affairs, and a named executive officer of the Company, notified the Company of his intent to resign from the Company, effective November 4, 2022, to pursue another opportunity.”
Michael O. Johnson was appointed as Chairman and interim Chief Executive Officer at HERBALIFE LTD..
“On October 29, 2022, the Board adopted resolutions to reduce the size of the Board from eleven to ten members, and, as of the Effective Date, appointed Michael O. Johnson as the Company’s Chairman and interim Chief Executive Officer.”
Dr. John Agwunobi departed as Chairman and Chief Executive Officer at HERBALIFE LTD..
“On October 27, 2022, Dr. John Agwunobi stepped down as the Company’s Chairman and Chief Executive Officer and as a member of the Board of Directors of the Company (the “Board”), effective October 27, 2022 (the “Effective Date”).”
John DeSimone changed role as Executive Vice Chairman at HERBALIFE LTD..
“Effective July 29, 2022, John DeSimone, one of the named executive officers in the Company’s 2022 proxy statement filed with the Securities and Exchange Commission on March 15, 2022 (the “2022 Proxy Statement”), transitioned from President to Executive Vice Chairman, a part-time and non-executive role.”
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