Herbalife Ltd. Provides Earnings Guidance for the Fourth Quarter of 2016 and Revises Earnings Guidance for the Full Year of 2017
The company revised earnings guidance for the full year of 2017. The company expects fiscal year 2017 diluted earnings per share in the range of $3.55 to $3.95. The adjusted EPS of $4.20 to $4.60, down from a prior view of $4.60 to $5.00 per share. The company noted the updated EPS guidance includes a $0.55 per share currency headwind, up from initial guidance of a $0.15 per share headwind. The company now expects 2017 net sales growth of 0.3% to 3.3% versus 2016, compared to a prior view for growth of 3.5% to 6.5%. The company expects capex was in the range of $125.0 million to $155.0 million, effective tax rate was in the range of 27.5% to 29.5%, currency adjusted net sales growth vs. 2016 was in the range of 3.9% to 6.9% and currency adjusted diluted EPS was in the range of $4.75 to $5.15. The company is updating its 2017 guidance for the movement in currency on which the prior guidance was prepared. As a result of additional currency headwinds, the Company's estimated GAAP and adjusted diluted EPS are now expected to be negatively impacted by approximately $0.40 per share compared to prior guidance.