Herbalife(US:HLF)2024-05-01 23:15Financial 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]