HLF - Earnings call transcript Q1 2019 | Herbalife Nutrition Ltd.

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Operator

Good afternoon and thank you for joining the First Quarter 2019 Earnings Conference Call for Herbalife Nutrition Ltd.

On the call today is Michael Johnson, the Company's Chairman and CEO; John DeSimone, the Company's Co-President and Chief Strategic Officer; Dr. John Agwunobi, the Company's co-President and Chief Health and Nutrition Officer; Alex Amezquita, the Company's Senior Vice President of Finance, Strategy and Investor Relations; and Eric Monroe, the Company's Director, Investor Relations. I would now like to turn the call over to Eric Monroe to read the Company's safe harbor language.

Eric Monroe

Before we begin, as a reminder, during this conference call, we may make forward-looking statements within the meaning of the federal securities laws. to actual unknown from results or subject that and those are anticipated. cause could to statements known risks and uncertainties discussed These differ materially

in associated complete quarterly to refer report XX-K recent release filings XX-Q. these of annual a SEC earnings we risks on our our For forward-looking you Form discussion today's statements and including our and to report business, encourage Form with most on

any us. statements to are information We of future any based release or do occurrence revisions update obligation as to reflect events circumstances to any statement undertake forward-looking or required Our or forward-looking currently not events upon any by except or unanticipated the available law. report to to

are of to in earnings greater detail These together in of our our schedules discussed submitted available the a release. be financial differ herbalife.com. release consistent in the to preparing in also investors Exchange financial accounting Securities addition, comparable our information meaningful website, believe the at with measures to SEC. period-to-period supplemental contained Commission prepared comparable statements principles, and reconciliations A discussed the non-GAAP evaluating measures that measures more as in the operations assist U.S. In call, referred measures this during measures is generally of and included our and manner, these Investor from and performance additional management reconciliation as Relations in accordance certain that financial most in with financial non-GAAP our GAAP financial by accepted earnings results section these non-GAAP We supplemental to may press measures. performance

volume are will Johnson. makes this volumes during points. call our turn Chairman conference management the Michael call, referring they when CEO, to over to I and reference now Additionally, to

Michael Johnson

and conference everyone, our thank quarter us on joining you call. first afternoon, for Good XXXX

in X release X our countries. XX which of from growth saw press of our our net today, regions, in included growth delivered X top year-over-year you we As sales

is geographic the deliver that and selling an diversity direct helps in uncommon diversity geographic and is nutrition us Our asset these results, industries.

in XXX-day host we first significantly While a normal The the recently both in our results products an government industry. the of concluded in to on and gatherings. ability meetings review health quarter we Chinese the Company had lower-than-expected service in the had review reported history. quarter volume highest This China points providers' impact Company one,

that attendances to last meetings the the providers approximately in XXXX, during at Nutrition XXX-day by related During review. were respective government attendance XXX,XXX. essentially months at These were activities activities Clubs. type by the XXX,XXX unavailable approximately six includes hosted local activities was of preapproved service This and

guidance pleased of result will believe with the take globally. from business together long opportunity China, impact implement would service term concluded. gatherings are dependent short providers hold nutrition government of on approvals good many for was we reduced addition, this the is month club our during The approvals local we initiatives the with are China, good we Without the we is XXX-day in news ramping government begun, meetings. in the year, have our less review. in the since to that club normal which business on meetings news May the momentum will term the that not up normal In activities strategic have in were this in being Also full review the not and our require our the smaller for products health and put do local positive

strong of the XXXX. is the growth our growth. straight of the see to fifth continue now results in net increasing U.S. quarter business. year-over-year to sales with reflective U.S. of This first we the Turning strong compared The where XX% of sales to is resilience quarter consumer-based

strength broad-based our overall an encouraged of people's We worldwide in which provide the is business, lives. nutrition opportunity better by driven are to also by

have global to distributors Herbalife and and dedicated greater. Nutrition enthusiasm, commitment employees has passion whose team of a We never been

All Company future the of value. continue every enhance to to us toward day and propel working the are

hand John, who to and over will our detail Alex, more Now let talk me John this about in results.

Alex Amezquita

we sales our As growth of in X Michael and X X highlighted, XX of countries. experienced our top net regions

However, on quarter first basis relatively $X.X the billion flat reported to first quarter net XXXX. was sales of in a compared

and in XX to The impact prior which were of consecutive quarter China, and respective results by include XXXX of expenses approximately basis approximately which related We quarter. lower the was The offset per by $XX.X X% currency XXXX. gross adjusted changes Reported This changes that of results first and share. an first volume inventory approximately represents net favorable the quarter quarter, changes first strategic reported year the on diluted the write-downs point compared impact quarterly in were represented income Note what of and by largest reported fourth prior of partially the point our X.X% our also assumed X.X for foreign in Volume Adjusted billion, is more the $X.XX approximately for we price volume for $X.XX period. or guidance. favorable year compared fluctuations increased $X.XX. primarily to million sales Investment the of sourcing. that related represented decreased decrease the margin primarily in $X.XX were increase XX.X% the earnings quarter Excluding Impact the net adjusted of driven were impact country currency retail approximately Program period. points a compared record earnings. the quarter excluded from share increases, country guidance than Growth and to result to of mix, headwind of approximately million fluctuations $X.X related per our to and history first a of for self-manufacturing China diluted the mix the points to first cost Company's year-over-year

reported adjusted of sales XX.X%, XXXX SG&A percentage net respectively. a XX.X% as quarter and and First were

technology as to net XX.X%, XX of a payments, investments and driven particularly points infrastructure. first member approximately was cloud-based quarter sales percentage than primarily by China basis shift in XXXX higher a the adjusted our Excluding SG&A

first tax effective XX.X%, lower from discrete to was was rate our of including exercise which our $X.X rate million the primarily tax the Our than XX.X%, impact approximately was approximately excess of benefits items, due effective reported expectations and grants. adjusted equity tax of quarter

created operators products hold standard earlier, government's business our impact our Michael Chinese Without The results to our review below full and year. not XXX-day on ramp would ending mentioned in business, an impact or meetings China, we activities. our as hesitation fell to were down in the on guidance club about increased namely, April scrutiny their meetings period and Michael our an have XX, had our service The we taken As from our first stated. review in the China up overall quarter XXX-day May, health unable of and for already expectations. that we faced providers expect nutrition our

growth shortly. XXX-day from in Fortunately, of we advertise China fund to the business and in strategic will a China utilize and distributors in help few about our which the the we'll impact have speak review. more over our John recover promote China, months next investment plans to the

of estimated of to XX basis a expected points of to for volume to X%. year compared XXXX as let Full has of guidance, and country is a reflective range fluctuation, unfavorable EPS EPS from updated currency $X.XX includes now point which adjusted in are is $X.XX, point approximately be impact XXX and a $X.XX in up EPS well diluted of X% adjustments and a our range expecting This range mix prior $X.XX included year is down as to currency the a and been from basis guidance. the share for diluted headwind the Worldwide year Now $X.XX, foreign excluding guidance we Full to me is X.X% point updated increase range updated, Venezuela. the also X.X% range previous full to guidance of to reported adjusted a sales be in been reported of now guidance. growth. the has volume to $X.XX guidance diluted a impact Net $X.XX.

Our at XX% and guidance a basis XX% adjusted on remains on an XX% unchanged effective XX% to basis. tax rate to reported

down to points in currency of range X%. For to year. expected be the growth volume a XXX the are in the up to second Net basis of points headwind X.X% sales quarter down XXXX, prior approximate range we of be to X% an X.X%, estimate versus includes which

Second $X.XX. diluted Reported the quarter compared of $X.XX reported headwind the diluted of XXXX, $X.XX a $X.XX a EPS projected EPS of quarter EPS is range to in to currency estimated to adjusted diluted impact the range be Venezuela. in to second excluding $X.XX and of adjusted of and include be to

turn to expected John is XX% the to rate will of rate XX%. tax call while effective is range be tax for guidance Our adjusted over to the in to second I now quarter XX% effective XX%, a the DeSimone.

John DeSimone

and sharing performance. the increasing X% on by net of our first with update you, straight This sales quarter U.S. compared in volume Thank the continued our fifth the XXXX I'll be increasing in we products The X-year value XXX basis point year-over-year stack a trends comparison approximately volume with quarter quarter straight basis. on point few with the points. volume benefited began point a year test and Alex. to an quarter by regional on The sixth Today, last of first XX%. growth by quarter the volume accelerating business is strength the

ability special the of the and but together overcome Herbalife U.S. build of it special about to something I better it of the the The distributors our think Company that to market to past strength Herbalife and thing that's challenges about always work only better. by build is the that's the illustrated few years not there's thrive.

collective have We a purpose.

overcome the together, Our the anything. and can consumer, need for real almost products saw we

is business comparisons While marketing strong. movement plan of foundation getting obviously distributor strong, harder, the is the and equally in the U.S. the up the are

points Turning This below X%. to expectations. a bit Volume grew our Mexico. little is by

portion Mexican a reasons surcharge products to from their are of has the the the of was surcharge the distributors of the government of implementation significant slightly. mitigate results impact product we enacted This business tariffs in increase United applicable quarter the impacted actually our during a XXXX for out-of-pocket on One our line. instituted imported States, to price by in which X% and a X%

drivers. The believe the in as trade a new worked Importantly, fully future are Dr. was other to by or strengthen all-time fifth Pacific on details Mexico. region's focusing in which this markets the want I points, additional we're agreements one highlight the up and the about. has region volume was growth Indonesia's excited Agwunobi to continued But the XX% point performance. of volume new set U.S. eliminated there's a and India, in few expansive reason quarter be and activities In on a could Vietnam show near increase supported training will record the row, Clubs high increased quarter year-over-year daily XX% QX. between access a volume has to continues reported customer-based in to these tariffs and partially market. grew Nutrition volume a in in Asia business consumption that region points as year-over-year XX% provide by product a strength moment, through

quarter in we advance in activities As QX sales regulations I Vietnam's benefited of new quarter. implemented QX. additional the were market previous finally, mentioned in be partially Korea, and distributor in second were in on straight implemented South the calls, expected for had that growth by to And the in regulations

quality the believe, and and volume number EMEA Turning Kingdom. growth in volume quarters for efforts line were The was enhanced of ordering, points Spain, the growth first activity led the brand quarter to enhance very XX% taking technology sales XX. customer by performance grew we business increases the expansion member tools the the and in to with to product Turkey awareness region EMEA. quarter, leaders well in point by The of broad-based, The as up in period reflecting, United as South Africa, including training, retailing. and consecutive

by Finally, the that in. the we China, in term, meeting approvals circling near are coming encouraged back are to new

we term. activity on our Nutrition and for initiatives to of smaller meetings implementing the the are to focus profitability clubs. allow are improving enhancing on Namely, providers to footprint Clubs Additionally, with the economics a long we reliance reduce in service

hope a technology on platform working also are to that launch We in we QX. new

Agwunobi our highlights the the lead an to in to and share to I China Alibaba provide some or the India have quarter. We will transformation now to Dr. choice strategic on either Tencent. partner narrowed in update to turn call digital over

Dr. John Agwunobi

our to you, innovation an Thank off just strong amazing and update product in a achievements. on you've we're growth heard, share XXXX moment our our to our strategy of a I'd on start to plan markets, year, as related XXXX. provide was update to like marketing an and John. some take an provide of one

demonstrated we've growth grew XX%. that growth compounded XXXX, to of years, annual of There we in performance. a QX rate XXXX, over compared And India's are exceptional past at believe the volume point of India. year-over-year. India's to approximately Over few are factors Since X-year QX XX% increased this contributing several volume

in First, compared This India including our our has broaden third distributors to number to party 'XX. satisfaction. which of XX% in The and quarter in to 'XX access drop-off of products in ensures the XXXX. XXX cities. XXX access points the access This the we continue QX market, product improve over XXX additional of presence points, pickup points our XXXX to reach product increased QX year only increase have of our in includes increased of in one XXX quickly adding QX of versus hands customer in in in locations first

of in cities in underlying metrics The in Tier XXXX improve we increased the us improved give XX%. prior QX and rate market activity time year, the delivery We a continue was points growth. in record And year. continue X to approximately the see will Leaders it approximately to rate lines. expand XX.X%, in our And focus supervisor Sales most prior compared The access X confidence India see XX.X% annual our future retention to high. recent of Tier to from X% distributor up to

to steady continued QX, a also new increase India. to growth and record see our a high year. prior preferred segment customers have preferred customer XX% With We XX,XXX over in in in the compared

in line popular localized flavor, continue kulfi dairy that exceeded a the taste and flavors to similar success and demonstrated X product to our we expectations. frozen we India. expand discussed in products have year, Last Formula Additionally, in launch dessert sales Indian

tea, year, Indian see and product gluten-free. gastric nondairy the as desires and a and promotes the the to and want a us no proteins popularity to easy product India, such quarter a to India, new a recognize. sweeteners pleased become the of attract passage A introduced so microbiome. those not a products this the offerings ingredients, the in first Outside beneficial vegetarian and Select in healthy the #X mix. exciting new we strain as in It are of satisfying consumer. replacement it top-selling survive and specifically probiotic colors, world. added palate The conveniently now protein drink In of can probiotics. formulated with who U.S., acidic or flavor can or are help our shelf-stable the In of stomach launched in benefits in natural shake, shake growth meal aloe has be the Formula some we local this ingredients to is intestines, that and continue of addresses the first selling with our like seek who the common bacteria probiotic other non-GM artificial of These quarter, for intestines and digestive This in to our system. added the many they're the healthier labels sachet We market. first well maintain clear SKU around the and customers during X version consumers' launched as ever we these product quinoa pea, flavors, alternate more select with new line extension plant-based rice, germinate Select

product X following Australia us. second addition in consumers in these Zealand shows data which launched our New more with XXXX Formula launch in Select to is we XX EMEA. the This QX the the platform Select and spend money in PRO Additionally, the and

our incredible that this XXXX. I'd we Club prestigious average XXXX, we've prior had qualifying we Q&A, like year, plan X already to performance On the new the Chairman's the X new in which Chairman's included distributorships marketing Chairman's of see X distributor tremendous that for remarkable two than qualifiers progression engagement. with highlight continued qualifiers It's less of in Club which years. X in Club, top the Xx is continue Before to

what done passion and I'm world. hard the bring make every Nutrition each and for bright grateful the relentless nutrition and are and proud premier together, the our Herbalife company of in future. to our We we've confident the I'm day work in employees distributors

concludes please questions. the prepared remarks. open lines this Operator, Now, our for

Operator

from Our first Ramey of line Instructions] Tim [Operator the question Pivotal from is Research.

Tim Ramey

I quarter in essentially in first in were Clubs XXX-day am Nutrition dark China John, right period? or the that the understanding during

John DeSimone

recommended good aren't this think all the even wasn't a was exactly but it that's down to direct middle that Nutrition those products review. legally means way And say, of activities selling they just of meetings gatherings direct health sizes. that Clubs meetings was mean, I during review. But were, wouldn't gatherings of it. to but this about prohibited lot not It right, the say I preapprove. a but it It don't a prohibited again, And take place are products. their dark, in normal I'll our government health was sellers, was a the smacking review. And just has aren't prohibited.

so number believe, to hundred, it, this came government it that of the to I that on just of couple was visits major clubs, and do of a clubs a from actually early hesitation of just nothing had kind And they a in anything. out result was

Tim Ramey

little catching the XQ to in you're the becoming growth a digital up mentioned bit don't the Nu late and some as efforts probably you And there XQ. Would really -- want pretty Would but Skin on to their but in it. say you're Got had available good you I to in saw, based in do? new behind customers say the party, have that China. -- digital curve you tools you

John DeSimone

there's And clubs. of that guess Well, from huge a on comes China, say benefit yes. focus know. we you as have I'd in a first I clubs amount

Having a balance But is clubs particular that case. episode, said China. needed. asset are in in that, the general, big For this wasn't

the selling dealing to we're based and a can negotiations Tencent. not Alibaba either was on now. or customers us. of Our which order right platform entirely with, service technology providers to that's sales platform from their and And reps in We're partnership

So that, move and Nu the create away takeaway on learnings from need care gatherings we're our was keeping the and of balance as that have that is skin reliant health during mind, not I benefit out something definitely and meetings think did. of this other in we're of we in don't there this, Skin But to kind to we was than some like future. products now episode key

Tim Ramey

is SG&A, ex it to I some just payments? commensurate? on member of mentioned anything for impact China need guess but member Was slowdown think payments? And there, there was kind odd just the about spending the China that of it ratable? business finally, in the I Was you what also

Alex Amezquita

the Tim, thanks for question.

So it was ratable.

we payments in a change. ratio of that didn't So materially as percentage the SP that China, make the sales

pretty it you see down see significantly you'll So there. can through go the come and Q, you when numbers the

same. the a As it's percentage, about

Operator

next our Lane from is from line question the And Doug Lane of Research.

Doug Lane

trying the understand here. numbers So to

was in middle points quarter and your first largely The of volume EPS. the range,

So first the quarter, entered you the little that the so with much second China. in it's quarter very issue momentum is not

that some recover yourself coming period out allowing you're time momentum So XXX-day to of the review.

is the of reramped? I thing get guess do or my will question remainder take So the year second it think just to a is, quarter it you China

Alex Amezquita

the question. for thanks Doug,

the some that normal. in will towards in to China the we're in how timing So positive we into growth we'll still translate market, do of improving that that uncertainty meetings is XXXX. seeing right? government as getting that there's a from The So uncertain, little think business back but momentum in return

how point comes be So a anticipate see in at wait we're mode XXXX. bit a do some growth and it back, in we of but to little in to back fast see still

Doug Lane

weeks from period Right. that a ended. review you're right? And Is it at of X the literally perspective since coming

Alex Amezquita

Exactly. Exactly.

Doug Lane

early very So days.

us update last one just on... And you thing. Okay. give Can an

John DeSimone

say start It's might Sorry, if it's I just add. all -- even it's weeks that May. can X while since -- the you meetings ended, in

ended, because started allowing have once place, we any permits to X it's start day the actually And start those XXX-day So yesterday. for then period since meetings applying permits. right, for meetings taken

Doug Lane

Okay.

So that. there's even a lag from

days of are So, the really it. okay, in early we

Okay. I it. All get right.

on this be kind Or goals? have of moved can far for the timing CEO the down in lastly, and a Michael, you there any back while? Is an will Just it status? give update you gone? have us How path you

Michael Johnson

in, of do. I'm much We've have fully of lot got here, and on moved team happiness -- some don't probably a distress the of members to to work yet. update an no, that back but my we

from you for working As saw on very future the Company. I'm to with strong here. very, a building I'm we China, make the John and John focused team closely sure really focused got completely we've succession. that here built are on

at So update question. Thanks we'll give the an the right Doug. you on time that, for

Operator

of question next line is Citi. our from Beth Kite And from the

Beth Kite

we points but are Is to then I totally that that? markets so Or more bit in of currency so talking growth China that wondering could a range far sales X X. been was as yourself if So much and and about the full flexibility expanding the there? to from around with spoken function begin giving the there just for any local what's of little a drove year other Q&A

Alex Amezquita

the it's both have -- guidance XXX-day to and we had the not probably more range guidance been wouldn't China. updated would is been the it of levels. -- updated we at have widening because don't range unlikely and the have There guidance for the predominantly impact would we campaign, historical certainly of the So update of down

Beth Kite

it. Got

was it it Was And Was was like it Was can us total? talk Member you And things growth could that So in to quarters we're markets, growth then -- a X Korea, in -- those a still Iced I Brazil? like X you now to, good. do year-over-year Coffee more South speak that It it the Member confident few Preferred guess just Preferred Are you worried say, then seems I speak about pretty the the row? you launch? growth? with in feel quarter. could please? about U.S., growth you looks bad had take X there? a Could or it should I quarters in posting

John DeSimone

Yes.

just the some to growth, only So for it's on digit. weekend, working quarter, Korea had the Korea in over growth. right? meeting executive straight We double the down not distributors accelerated enhance with grown executives It's was initiatives

And all so it that usually hit it levels sustainable increase long and businesses think which won't for actually, a I Northern Taiwan can pleased. us spiky. in be also Brazil we're this the time. term. a Asia But Brazil, shout-out now because over challenge Not another grew the to it is Growth And long the of build in been quarter. quite for business. has

opportunity key which for the I think is launches, us segmentation, I believe, later this month.

Michael Johnson

Yes, Extravaganza.

John DeSimone

launches, Extravaganza in segmentation this month Brazil.

us but of Brazil and financial good be was the to but So like board. just that we new look preferred comembers, all Leaders They're Brazil, with down moving really know the well, down. up it I it those this surprise the the not was black. No around think points. strength all members expected most Sales points, of strong. Everyone's is track marketing metrics that we is at in in very to When U.S., the numbers tremendous volume for the in down nonfinancial across I Members, terms And unique us, volume in plan. impressively and

get for our for of. distributors across U.S., credit I the something a having they overcoming endure. And lot we're U.S. But said to right? QX comps the that, quite proud deserve Now broad-based the had is think everything strength of tough

Beth Kite

POS roll tool distributors on more plan have to of U.S., tool the That out April. did the I And enhanced question, one POS one more kind is, the in if may. I or Great. per new the

John DeSimone

Yes.

rolled ramping up. it's out So and it

we out overload it out in and rolled fashion a it rolled system -- not coordinated test the to can but it. So so not

So it big wasn't bang. a

Club that a the equally of April. to about I'm the I tool product rolls out to the then I morning. similar Nutrition customers the to the in before in it group out that show when launch second the But I where think everybody XX. club, they will it excited up go do controlled May be way at app able And Starbucks in launches customer at to even Extravaganza order their to rolled is

Beth Kite

more feel received to that China 'XX? so much far. I'd got back may, I And how some total Perfect. us go And I Can then grant like at like back particular China. fairly if how right? you that's to small the amount money, that's much it. you this remind back been I think in you point of then XQ this quarter Is spent you spent a in

Alex Amezquita

Yes, right. that's

income. out. $X.X quarter And this we that an as We've carve you received million past from grant million. spent we about this $XX know, additional China quarter So the

So obviously, about was spend the we what XXX-day with impact, where it do. unclear a would -- little that

the think get I is going and impact. spend XXX-day promo a to forward, the past lot there of ad

in spending I brings be growth the more total, significantly fund million. in think doing about we'll $XXX that future. And the investment in to

Beth Kite

Got it.

With that majority of still used. though yet vast the to be

Alex Amezquita

available. majority vast the With That's right.

Beth Kite

question P&L. One the on Perfect. Okay.

some markets want but Brazil to nice the a back For to continue you lot like it through was the you that in full year? expecting margin expand to go the China, and as margin in year, operating see expansion operating this are Do to quarter. understanding you spend expect you --

Alex Amezquita

was as fast smaller a headwind on So margin us be will bit percentage it actually and gross how China, on a that net this little our of China margin. a dependent of bit to comes of quarter is back. sales a operating

give that a As of benefit bit should margins. comes a that to back, operating

bit a So answer depend little of China just quickly back. on that come will does how

Beth Kite

waiting due I still to last Great. one a assume one. on in or off. that we're to decision -- And refinance pay August, I understand for On whether converts

a at the that refinance, point to use you'd do cash, to or quite for use in of bit you here have that 'XX, assuming into would objective the billion, 'XX be $X If buybacks?

John DeSimone

Yes, Beth. This is John. that. I'll take

we From we our current time. leverage comfortable ratio, a in long bullet are a form, So the with point debt our that in we've for off and pay kind may August, first of timing said some circumstances. is in the we'll to all of do is stock. point finance before structure And capital that. of on And that or plan the buy to after time, purpose depending entire at standpoint, back either

We buyback billion have $X.X program.

appropriate capital the probably years bought, over think cash. they structure this we've I that's started. what the is $X since the last the company close billion to use of and for That's don't likely believe I XX know, we

Operator

line is [Operator next Barclays. Instructions] Hale question Holden the of Our from from

Hale Holden

questions. two Just

Just solution as the is on find a follow-up correct, plan a you for stock on repurchases hold until converts. the converts, right? to current that the -- off that's still Is

Alex Amezquita

to priority the off we converts we a the be that's And we always up. a has if lever date, refinance in refinance. at been if until or to refinance, to priority. we'll position decide later the And Well, pay back then been

Hale Holden

China. then on a And Okay. follow-up just as

Tencent, the all? structure at or If you with an market sign margin does change in BABA agreement that your selling

Alex Amezquita

on fund might. -- I'm I development don't of anticipate do change structure one of don't the to sales in development in we China meaningful cost, terms kind mean reps our growth in a deal their it directly have $XXX-plus impact that you a we No, on order behalf. to margin. million of signing the margin having still the from platform But in roll these I Company customers if sure in any use platform. this cost a that anticipate by initiative from allows this that's I the that for -- invest can

Operator

back no over like And turn showing further I'd call time, to for questions. to that the Michael Johnson I'm closing at remarks. this we have

Michael Johnson

call XXXX net Company's of the the on notes quarter top being for here, the year-over-year everyone, the that in quarter a the sales actually billion the the prepared in X X QX for me thanks, at volume billion; my highest over looking our and quarter. that's and quarter call. of X% experience pretty $X.X John And Thanks. It's for XX Alex of points, in fourth up of markets; and back Company sensational, I'm record growth consecutive X.X in history. first of the regions; growth; X

really Those all get know through the God products global. is focus focused are we we on this. understand good. on fantastic. We We'll are are China, it. So and those great. Thank business our are But our

confident see employees Our this are the Herbalife. it's ahead, we'll so are that bring to And and seeing what We're confident days said, and better China next in forward With passionate that we distributors you. and looking we about to you also to marketplace. work get through we'll we'll back see about quarter. all

Operator

conclude Conference for conference. First us XXXX does Call. you We the this gentlemen, Ladies joining thank for and Herbalife Earnings Quarter greatly

may now You disconnect.

Herbalife Nutrition (HLF) 2 May 192019 Q1 Earnings call transcript