Herbalife Q2 2024 Earnings Presentation July 31, 2024 Heather Jackson United States Gravel Racing and Ultra Running Arianna Errigo Italy (Flag Bearer) Fencing Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state se ...

Herbalife Ltd (HLF) came out with quarterly earnings of $0.54 per share, beating the Zacks Consensus Estimate of $0.43 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 25.58%. A quarter ago, it was expected that this company would post earnings of $0.37 per share when it actually produced earnings of $0.49, delivering a surprise of 32.43%.Over the last four quarters, the company has ...

Volume Points and Sales Performance - As of June 30, 2024, Volume Points decreased by 6.0% and 4.8% for the three and six months ended June 30, 2024, respectively, compared to the same periods in 2023[184]. - North America's Volume Points decreased to 272.5 million, a 13.1% decline from 313.4 million in June 30, 2023[184]. - Latin America's Volume Points decreased by 2.1% to 253.2 million from 258.5 million in June 30, 2023[184]. - EMEA's Volume Points decreased by 9.7% to 299.2 million from 331.2 million in June 30, 2023[184]. - Asia Pacific's Volume Points decreased by 1.9% to 520.2 million from 530.5 million in June 30, 2023, but saw a 1.2% increase in net sales for the first half of 2024[184]. - China’s Volume Points decreased by 1.8% to 61.5 million from 62.6 million in June 30, 2023, but net sales increased by 4.6%[184]. - Net sales for the three and six months ended June 30, 2024, were $1,281.1 million and $2,545.4 million, representing a decrease of $32.9 million (2.5%) and $20.7 million (0.8%) compared to the same periods in 2023[197]. - The Primary Reporting Segment reported net sales of $1,199.4 million and $2,388.5 million for the three and six months ended June 30, 2024, representing a decrease of $26.6 million (2.2%) and $21.9 million (0.9%) compared to the same periods in 2023[207]. Financial Performance and Income - Net income for the three and six months ended June 30, 2024, was $4.7 million ($0.05 per diluted share) and $29.0 million ($0.29 per diluted share), reflecting a decrease of $55.2 million (92.2%) and $60.2 million (67.5%) compared to the same periods in 2023[198]. - Selling, general, and administrative expenses increased by $41.8 million for the three months ended June 30, 2024, impacting net income significantly[198]. - The company experienced a $10.5 million loss on extinguishment of debt related to April 2024 refinancing transactions, affecting net income for both the three and six months ended June 30, 2024[198]. - The decrease in net income for the three months was primarily due to $41.8 million higher selling, general, and administrative expenses and $19.3 million higher interest expense[198]. - Interest expense, net increased to $57.7 million for the three months ended June 30, 2024, compared to $38.4 million for the same period in 2023, primarily due to an increase in the weighted-average interest rate following debt refinancing[238]. - Income taxes for the three months ended June 30, 2024 were $7.5 million, with an effective tax rate of 61.5%, up from 29.5% in 2023, primarily due to changes in the geographic mix of income[240]. Regional Performance - North America reported net sales of $283.2 million for Q2 2024, a decrease of $20.4 million or 6.7% compared to Q2 2023, with a 13.1% decrease in Volume Points[217]. - Latin America achieved net sales of $211.7 million for Q2 2024, an increase of $4.7 million or 2.3% compared to Q2 2023, driven by an 8.0% favorable impact from net price increases[220]. - EMEA region net sales were $287.8 million for Q2 2024, a slight decrease of $1.8 million or 0.6% compared to Q2 2023, with a 9.7% decrease in Volume Points[221]. - Asia Pacific region reported net sales of $416.7 million for Q2 2024, a decrease of $9.1 million or 2.1% compared to Q2 2023[224]. - In India, net sales increased by $15.2 million or 8.0% to $204.6 million for Q2 2024, with local currency growth of 9.7%[225]. Cost and Expense Management - Gross profit for Q2 2024 was $998.0 million, with a gross profit margin of 77.9%, an increase of 85 basis points from Q2 2023[231]. - Selling, general, and administrative expenses rose to $502.3 million for Q2 2024, representing 39.2% of net sales, up from 35.0% in Q2 2023[236]. - Royalty overrides decreased to $415.3 million for Q2 2024, accounting for 32.4% of net sales, down from 32.7% in Q2 2023[234]. - The unfavorable impact of foreign currency fluctuations was noted as a significant factor affecting both net sales and contribution margins[210]. - Global inflationary pressures and supply chain challenges are impacting cost structures and pricing, potentially affecting sales volumes[216]. Strategic Initiatives and Programs - The company implemented pricing actions in certain markets during the first half of 2024 to address inflationary pressures[181]. - The introduction of a new training and recognition program in 2024 aimed to encourage recruitment and activity of new distributors[187]. - The company plans to enhance its Member-facing technology platform through a new Digital Technology Program, which has incurred expenses impacting net income[199]. - New product launches and training programs are being implemented to support Members in improving sales and retention[219]. - The company is segmenting its Member base for more targeted communication and promotions to enhance sales effectiveness[213]. - The Transformation Program is expected to deliver annual savings of approximately $110 million, with $70 million realized in 2023 and similar savings expected in 2024[246]. - The Restructuring Program aims for annual savings of at least $80 million starting in 2025, with at least $50 million expected to be realized in 2024[247]. Cash Flow and Capital Management - Operating cash flow for the six months ended June 30, 2024 was $116.3 million, down from $181.8 million in 2023, driven by lower net income and higher expenses[243]. - Capital expenditures for the six months ended June 30, 2024 were $58.7 million, with expectations of total capital expenditures for 2024 to be approximately $120 million to $150 million, including investments in the $400 million Digital Technology Program[244]. - As of June 30, 2024, the company had $374.0 million in cash and cash equivalents, supporting general corporate purposes and potential strategic investments[242]. - The company expects sufficient working capital from operations and available borrowings under the 2024 Credit Facility for the next twelve months[273]. Debt and Financing - The 2024 Credit Facility includes a Term Loan B Facility of $400 million and a revolving credit facility of $400 million, replacing the previous 2018 Credit Facility[251]. - As of June 30, 2024, the outstanding principal under the 2024 Credit Facility was $480.0 million, with $400.0 million under the 2024 Term Loan B and $80.0 million under the 2024 Revolving Credit Facility[257]. - The company recognized a loss on extinguishment of approximately $2.5 million related to the repayment of the 2018 Credit Facility[253]. - The company issued $800.0 million of senior secured notes due 2029, with an interest rate of 12.250% per annum[259]. - The weighted-average interest rate for borrowings under the 2024 Credit Facility was 9.34% as of June 30, 2024[257]. Inventory Management - Product returns and buybacks were approximately 0.1% of net sales for the three and six months ended June 30, 2024, indicating historically low return rates[279]. - The company adjusted obsolete and slow-moving inventories downward by $23.2 million as of June 30, 2024, and $24.2 million as of December 31, 2023[280]. - Future demand and market conditions could necessitate additional inventory write-downs if less favorable than management's assumptions[280]. - Favorable future demand and market conditions could positively impact operating results if previously written down inventories are sold[280].

[Herbalife Second Quarter 2024 Financial Results](index=1&type=section&id=Herbalife%20Second%20Quarter%202024%20Financial%20Results) [Financial and Operational Highlights](index=1&type=section&id=Financial%20and%20Operational%20Highlights) Herbalife reported a Q2 2024 net sales decline of 2.5% to $1.3 billion, raised its full-year adjusted EBITDA guidance, and reduced its net sales outlook Q2 2024 Key Financial Metrics | Metric | Q2 2024 Value | YoY Change | Note | | :--- | :--- | :--- | :--- | | Net Sales | $1.3 billion | -2.5% | +0.2% on constant currency basis | | Net Income | $4.7 million | - | - | | Adjusted Net Income | $54.8 million | - | - | | Adjusted EBITDA | $180.0 million | - | Exceeded guidance; margin up 120 bps | | Diluted EPS | $0.05 | - | Includes $0.33 headwind from restructuring | | Adjusted Diluted EPS | $0.54 | - | - | | Operating Cash Flow | $102.5 million | - | - | - The company raised its full-year 2024 adjusted EBITDA guidance, reduced its net sales guidance, and reaffirmed its capital expenditures forecast[2](index=2&type=chunk) - The total leverage ratio was reduced to **3.5x** as of June 30, 2024[2](index=2&type=chunk) - CEO Michael Johnson highlighted that Q2 Adjusted EBITDA was the **highest in seven quarters** and noted that the increase in new distributors is building a foundation for future sales growth[2](index=2&type=chunk) [Management Commentary](index=2&type=section&id=Management%20Commentary) Management detailed financial performance, margin improvements from pricing, an ongoing restructuring program, and significant corporate actions including debt refinancing and an asset sale - Gross profit margin improved to **77.9%** in Q2 2024 from 77.0% in Q2 2023, benefiting from approximately 160 basis points of pricing, which was partially offset by 60 basis points of input cost inflation[3](index=3&type=chunk) - The Restructuring Program is expected to deliver annual savings of at least **$80 million** beginning in 2025, with at least **$50 million** now expected in 2024 (up from $40 million)[6](index=6&type=chunk) - In April, the company completed a **$1.6 billion debt refinancing** to repay amounts under its 2018 Credit Facility and redeem a portion of its 2025 Notes, resulting in a $10.5 million loss on extinguishment of debt[7](index=7&type=chunk) - The company completed a sale and leaseback of its Torrance, California office building in July, generating net proceeds of approximately **$38 million**[8](index=8&type=chunk) - The CFO reiterated the company's focus on expanding margins and reducing the total leverage ratio to **3.0x** by the end of 2025[8](index=8&type=chunk) [Business and Distributor Momentum](index=2&type=section&id=Business%20and%20Distributor%20Momentum) The company saw a significant 12% year-over-year increase in new distributors, reversing a multi-quarter decline, driven by record attendance at global training events - The number of new distributors worldwide increased **12% year-over-year** and **26% sequentially** in Q2 2024, breaking a trend of 12 consecutive quarters of year-over-year declines[9](index=9&type=chunk) - Extravaganza training events attracted approximately **83,300 attendees** globally, with the Asia Pacific event setting a new attendance record of 24,000 attendees and India's first multi-city event setting a record with 35,700 attendees[8](index=8&type=chunk)[9](index=9&type=chunk) [Regional Performance Analysis](index=4&type=section&id=Regional%20Performance%20Analysis) Regional performance varied, with constant currency sales growth in Latin America, EMEA, and Asia Pacific offset by declines in North America and China Q2 2024 Net Sales Growth by Region (YoY) | Region | Reported Growth | Constant Currency Growth | | :--- | :--- | :--- | | North America | (6.7)% | (6.7)% | | Latin America | 2.3% | 4.7% | | EMEA | (0.6)% | 3.5% | | Asia Pacific | (2.1)% | 1.6% | | China | (7.2)% | (4.0)% | | **Worldwide** | **(2.5)%** | **0.2%** | Q2 2024 Volume Point Change by Region (YoY) | Region | YoY % Change | | :--- | :--- | | North America | (13.1)% | | Latin America | (2.1)% | | EMEA | (9.7)% | | Asia Pacific | (1.9)% | | China | (1.8)% | | **Worldwide** | **(6.0)%** | - Most markets in Latin America implemented a **5% price reduction** and Volume Point adjustments to improve product competitiveness and stimulate growth[13](index=13&type=chunk) [Financial Guidance](index=5&type=section&id=Financial%20Guidance) The company provided Q3 2024 guidance and revised its full-year outlook, lowering net sales expectations while raising the adjusted EBITDA forecast Third Quarter 2024 Guidance | Metric | Q3 2024 Guidance | | :--- | :--- | | Net Sales (YoY) | (4.5)% to 0% | | Adjusted EBITDA | $125M – $155M | | Capital Expenditures | $35M – $45M | Full-Year 2024 Guidance (Revised) | Metric | Revised FY24 Guidance | Previous FY24 Guidance | | :--- | :--- | :--- | | Net Sales (YoY) | (3.5)% to +1.5% | 0% to +5% | | Adjusted EBITDA | $560M – $600M | $550M – $590M | | Capital Expenditures | $120M – $150M | $120M – $150M (Reaffirmed) | [Condensed Consolidated Financial Statements (Unaudited)](index=8&type=section&id=Condensed%20Consolidated%20Financial%20Statements%20(Unaudited)) The unaudited statements show a sharp decline in quarterly net income, a continued shareholders' deficit, and lower year-to-date operating cash flow [Condensed Consolidated Statements of Income](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) Q2 2024 vs Q2 2023 Income Statement Highlights (in millions) | Line Item | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Worldwide Net sales | $1,281.1 | $1,314.0 | | Gross profit | $998.0 | $1,012.4 | | Operating income | $80.4 | $123.4 | | Net income | $4.7 | $59.9 | | Diluted EPS | $0.05 | $0.60 | [Condensed Consolidated Balance Sheets](index=9&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Highlights (in millions) | Line Item | June 30, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $374.0 | $575.2 | | Total Assets | $2,602.2 | $2,809.4 | | Long-term debt, net | $2,321.0 | $2,252.9 | | Total Liabilities | $3,639.4 | $3,869.7 | | Total Shareholders' Deficit | $(1,037.2) | $(1,060.3) | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Six Months Ended June 30 Cash Flow Highlights (in millions) | Line Item | 2024 | 2023 | | :--- | :--- | :--- | | Net cash provided by operating activities | $116.3 | $181.8 | | Net cash used in investing activities | $(69.0) | $(68.5) | | Net cash used in financing activities | $(240.2) | $(85.3) | [Schedule A: Reconciliation of Non-GAAP Financial Measures](index=11&type=section&id=Schedule%20A%3A%20Reconciliation%20of%20Non-GAAP%20Financial%20Measures) This section reconciles GAAP to non-GAAP metrics, detailing adjustments for items like restructuring costs to arrive at adjusted net income and adjusted EBITDA Q2 2024 Reconciliation of Net Income to Adjusted Net Income (in millions) | Description | Amount | | :--- | :--- | | Net income (GAAP) | $4.7 | | Expenses related to Restructuring Program | $48.8 | | Expenses related to Transformation Program | $3.5 | | Digital technology program costs | $6.0 | | Loss on extinguishment of debt | $10.5 | | Income tax adjustments for above items | $(18.7) | | **Adjusted net income (Non-GAAP)** | **$54.8** | Q2 2024 Reconciliation of Net Income to Adjusted EBITDA (in millions) | Description | Amount | | :--- | :--- | | Net income (GAAP) | $4.7 | | Interest expense, net | $57.7 | | Income taxes | $7.5 | | Depreciation and amortization | $32.6 | | **EBITDA** | **$102.5** | | Adjustments (Restructuring, Digital Tech, etc.) | $77.5 | | **Adjusted EBITDA (Non-GAAP)** | **$180.0** | - The Credit Agreement Total Leverage Ratio was calculated at **3.5x** based on a TTM Credit Agreement EBITDA of **$691.6 million** and total debt of **$2,422.5 million** as of June 30, 2024[37](index=37&type=chunk)

WHITEHORSE, Yukon, July 30, 2024 (GLOBE NEWSWIRE) -- Victoria Gold Corp. (TSX-VGCX) (“Victoria” or the “Company”) provides an update on the management of the heap leach facility (“HLF”) incident that occurred at the Eagle Gold Mine on June 24, 2024 (see Company news releases dated June 24, 2024, July 4, 2024, and July 12, 2024). Safety Victoria’s focus continues to be on the safety of its employees and mitigation of harm to the environment. As previously reported, the Company has and will continue to liaise ...

While I tend to prefer writing about the market in the third person, the topic of fitness and the business world around it is a personal matter to me. After all, the fitness market, unlike technology or defense, relies on us, the average person, to remain relevant. For me, staying fit through gym memberships has never quite yielded the same results as spending time outdoors, and I think the reality is the same for most of us. Unless you live in extreme weather conditions like the deserts of Arizona or the f ...

Herbalife Ltd. (NYSE:HLF) Q1 2024 Earnings Conference Call May 1, 2024 5:30 PM ET Company Participants Erin Banyas - Vice President and Head of Investor Relations Michael Johnson - Chairman and Chief Executive Officer Stephan Gratziani - President John DeSimone - Chief Financial Officer Conference Call Participants Chasen Bender - Citigroup Inc. John Baumgartner - Mizuho Securities Anna Lizzul - Bank of America Hale Holden - Barclays Bank PLC Linda Bolton-Weiser - D.A. Davidson Jeff Van Sinderen - B. Riley ...

Herbalife Ltd (HLF) came out with quarterly earnings of $0.49 per share, beating the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 32.43%. A quarter ago, it was expected that this company would post earnings of $0.38 per share when it actually produced earnings of $0.28, delivering a surprise of -26.32%.Over the last four quarters, the company ha ...

Financial Performance - Net sales for Q1 2024 increased by 1% year-over-year to $1.3 billion[9] - Adjusted EBITDA for Q1 2024 was $138 million[16] - Adjusted EBITDA margin increased by 60 bps to 10.9% compared to Q1 2023[16] - Adjusted diluted EPS was $0.49, including a $0.03 year-over-year foreign exchange headwind[17] Strategic Initiatives and Restructuring - The company is redesigning and streamlining its organizational structure, with major markets reporting directly to the President[9] - A restructuring plan is expected to generate at least $80 million in savings in 2025, with approximately $40 million expected in 2024[17] - The company completed a $1.6 billion senior secured refinancing in April[9, 17] - The target total leverage ratio is 3.0x by the end of 2025[9, 17] New Distributor Growth - Worldwide new distributors increased by 22% from March 2024 to April 2024 (month-to-date)[12] - North America saw a 41% increase in new distributors month-to-date in April 2024 compared to April 2023[12] - China experienced a 75% increase in new distributors from March 2024 to April 2024[12] Regional Performance - North America net sales decreased by 11% year-over-year to $265.8 million[22] - China net sales increased by 11% year-over-year to $75.2 million[22]

Exhibit 99.1 Herbalife Reports Year-Over-Year Net Sales Growth for Second Consecutive Quarter; Raises Full-Year 2024 Adjusted EBITDA1 Guidance LOS ANGELES, May 1, 2024 – Herbalife Ltd. (NYSE: HLF) today reported financial results for the first quarter ended March 31, 2024: Highlights First Quarter 2024 • Achieved year-over-year net sales growth on both reported and constant currency basis2 ○ Net sales of $1.3 billion, up 1.0% vs. 1Q '23, in-line with guidance; on constant currency basis2 up 2.4% • Net incom ...