Herbalife Nutrition reported a decrease in net sales by 11% compared to Q1 2021, with net sales of $1.3 billion. Reported EPS was $0.96, and adjusted EPS was $0.99, at the high end of the company's guidance range. The company is updating its full year outlook, lowering net sales guidance to a range of down 10.0% to down 4.0%.
Q1 2022 net sales were $1.3 billion, an 11.0% decrease compared to Q1 2021.
Reported diluted EPS was $0.96, and adjusted diluted EPS was $0.99, compared to $1.33 and $1.42 in Q1 2021, respectively.
Net income was $98.2 million and adjusted EBITDA was $185.6 million.
Full year 2022 net sales guidance range updated to down (10.0%) to (4.0%), adjusted diluted EPS guidance range to $3.50 to $4.00, and adjusted EBITDA guidance to $680 million to $740 million.
The Company is updating its outlook for the year. For the full year, the Company is lowering net sales guidance to be in the range of down 10.0% to down 4.0%. Despite this reduction, the Company anticipates net sales will be flat in the back half of 2022, and will return to year-over-year net sales growth in the fourth quarter.
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