Herbalife beats estimates, raises full-year outlook
Herbalife on Monday delivered its 18th straight earnings beat and raised its full-year guidance, sending shares up more than 6 percent in after-hours trading.
Herbalife has been under huge scrutiny over the last year, in large part because of the war of words between investors Bill Ackman and Carl Icahn over the company. (Ackman made a $1 billion bet the stock would fall, criticizing the company's business practices).
The nutritional supplement maker posted second-quarter net income of $143.2 million, or $1.34 a share, up from $132 million, or $1.09 a share, in the year-earlier period.
Excluding items, earnings rose to $1.41 per share, from $1.10 a share a year ago.
Revenue increased more than 18 percent to $1.22 billion from $1.03 billion a year ago.
Analysts had expected Herbalife to report earnings excluding items of $1.18 a share on $1.16 billion in revenue, according to a consensus estimate from Thomson Reuters.
For the third quarter, Herbalife said it expects earnings of $1.09 to $1.13 a share; analysts currently expect $1.16 a share.
Herbalife expects revenue growth of 16.5 percent to 18.5 percent in the third quarter versus the 13 percent expected by analysts.
For the full year, the company projects earnings of $4.83 to $4.95 a share, from the range of $4.60 to $4.80. Analysts had expected $4.77 a share before the announcement.
The stock has nearly doubled so far this year. (Click here to get the latest quote.)