HLF · Herbalife Nutrition Ltd.

Herbalife's first quarter 2026 results exceeded guidance, driven by net sales growth of 7.8% year-over-year to $1.3 billion, including 240 basis points of foreign currency tailwinds. On a constant currency basis, net sales rose 5.4%. Gross profit margin contracted 40 basis points to 77.9%, primarily due to input cost inflation, unfavorable sales mix, and FX headwinds, partially offset by pricing benefits and lower inventory write-downs. Adjusted EBITDA of $175.7 million surpassed guidance, though margin declined 20 basis points to 13.3% due to FX headwinds of approximately $5 million. Net income attributable to Herbalife was $61.9 million, with adjusted net income of $69.0 million. Diluted EPS was $0.57, and adjusted diluted EPS was $0.64, including a $0.03 FX headwind. The company completed a $1.45 billion senior secured debt refinancing on April 29, expected to generate approximately $45 million in annual cash interest savings, and acquired Bioniq's personalized nutrition assets for $55 million base consideration plus up to $95 million in contingent payments. Management raised full-year 2026 guidance midpoints for constant currency net sales and adjusted EBITDA, narrowing ranges. The company also held its annual general meeting on April 30, 2026, where shareholders elected all 11 director nominees, approved advisory executive compensation, and ratified PricewaterhouseCoopers as independent auditor.