Herbalife Results Miss Estimate, Cuts FY14 Guidance; Stock Down 13%

(RTTNews) - Nutrition company Herbalife Ltd (HLF) Monday reported third-quarter net earnings of $11 million or $0.13 per share compared with $142 million or $1.32 per share last year.

Results for the 2014 quarter included $139.5 million in charges related to the remeasurement of Venezuelan Bolivar denominated assets and liabilities.

Excluding items, adjusted earnings for the quarter were $1.45 per share compared with $1.41 per share a year ago.

Revenues for the quarter were $1.26 billion compared with $1.21 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $1.51 per share on revenues of $1.32 billion for the quarter. Analysts' estimates typically exclude special items.

For the fourth quarter, the company expects earnings of $1.30 to $1.40 per share and sales to decline 5 percent to 8 percent. Analysts expect adjusted earnings of $1.69 per share on sales growth of 8.2 percent.

For the full year 2014, it now expects adjusted earnings of $5.80 to $5.90 per share on sales growth of 3.5 percent to 4.3 percent. It earlier expected earnings of $6.17 to $6.32 per share on sales growth of 8.5 percent to 10.5 percent.

Analysts expect earnings of $6.26 per share on sales growth of 9 percent for 2014.

For the full year 2015, Herbalife expects net earnings of $5.45 to $5.75 per share, and sales are estimated to range between a decline of 1 percent and an increase of 2 percent.

Analysts expect earnings of $7.22 per share on sales growth of 7.3 percent for 2015.