Herbalife Ltd. (NYSE:HLF) has released its earnings report for the second quarter of 2016.
Herbalife reported earnings per share of $1.29 for the second quarter of the year. This is up from the $1.24 that the company reported in the same time last year. It also came in above the $1.21 that Wall Street was expecting for the quarter.
HLF’s revenue reported in the second quarter of 2016 came in at $1.2 billion. Revenue reported by the company during the second quarter of last year was $1.16 billion. Herbalife’s revenue for the second quarter of 2016 was above the $1.19 billion that analysts were estimating.
“This has been a historic quarter for Herbalife, with worldwide record setting volume points and new volume point highs in four out of our six regions,” Michael O. Johnson, Chairman and CEO of Herbalife, said in a statement. “This momentum reflects the strength of our distributors’ businesses and with the FTC settlement announcement, I am more confident than ever in Herbalife’s future.”
Herbalife announced its outlook for the third quarter of 2016 in the earnings report. It includes earnings per share between 98 cents and $1.08. Revenue for that quarter if expected to increase by 5% to 8% when compared to revenue from the same time last year. Revenue from that time was $1.1 billion.
Herbalife also updated its outlook for 2016. It now expects earnings per share between $4.50 and $4.80. The company expects revenue to be up by 4.5% to 7.5% from 2015 revenue. Revenue from 2015 was $4.5 billion.
Wall Street is expecting earnings per share of $1.18 and revenue of $1.15 billion for the third quarter of 2016. They are also looking for earnings per share of $4.82 and revenue of $4.62 billion for the full year of 2016.
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