Herbalife Ltd.'s first-quarter profit beat analysts' expectations, marking its 17th straight quarter the nutritional supplement maker's earnings have exceeded estimates, according to earnings report released Monday.
The company reported earnings of $137.4 million, or $1.10 a share, up from $108.2 million, or 88 cents, in the same period last year. The company had forecast earnings of $1.03 to $1.07 a share.
Herbalife said revenue was $1.1 billion, a 17% increase from the same period last year. The company has beat analysts' earnings estimates for 17 consecutive quarters.
Herbalife puts the streak on the line this afternoon, as it's scheduled to report first-quarter earnings after the bell. Earnings are seen coming in at $1.06 a share, up from 88 cents a share a year earlier, according to FactSet.
"We continue to deliver record results in sales and profitability as our independent distributors successfully execute numerous growth strategies that enable deeper market penetration, developing customers using our weight management and targeted nutrition products every day," said Michael O. Johnson, Herbalife's chairman and CEO. "Obesity and poor nutrition are global public health problems. Our distributors are proud to be part of the solution."
Herbalife will host an analyst call Tuesday morning at 11 a.m. Eastern Time.
