Herbalife Ltd. · NYSE:HLF
Herbalife — Q3 2026 Earnings Presentation
28 slides from Herbalife's earnings presentation, Nov 2, 2026
Slide 1: Q3 2026 Earnings Presentation
Q3 2026 Earnings Presentation November 2, 2026
Slide 2: Forward-Looking Statements
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-loo
Slide 3: Business Update
Q3 2026 Business Update John DeSimone Interim CEO Q3 2026 Earnings | 3
Slide 4: Q3 2026 Business Highlights
Q3 2026 Business Highlights NET SALES ADJUSTED EBITDA² MOMENTUM VS. GUIDANCE $1.4B $182M 5th Exceeded +6.0% YoY | +7.6% 13.5% margin | $194M consecutive quarter of net Q3 guidance range for net constant currency¹ constant currency¹ sales growth sales and adj. EBITDA Entrepreneurial Enablement Platfo
Slide 5: Nutrition Clubs
Nutrition Clubs Q3 2026 Earnings | 5
Slide 6: Customer Engagement Platform Bioniq Opportunity
Customer Engagement Bioniq Opportunity Platform Q3 2026 Earnings | 6
Slide 7: Q3 2026 Earnings |
Q3 2026 Earnings | 7
Slide 8: Q3 2026 Earnings |
Q3 2026 Earnings | 8
Slide 9: Financial Update
Q3 2026 Financial Update Scott Schaefer CFO Q3 2026 Earnings | 9
Slide 10: Q3 2026 Financial Highlights
Q3 2026 Financial Highlights Net Sales Adjusted EBITDA1 Capital Expenditures $1.4B +6.0% $182M 12.0% $19M vs Q3 2025 vs Q3 2025 Adjusted EBITDA1 Margin 160 bps of FX headwinds $15M Capitalized SaaS vs Q3 2025 13.5% Implementation Costs +70 bps vs Q3 2025 +7.6% YoY at Constant Currency2 $194M at Cons
Slide 11: Net Sales Bridge
Net Sales Bridge $ million +6.0% +7.6% -1.6% 36.1 109.5 (1.6) 1,371.0 1,350.2 1,273.7 (46.7) (20.8) Q3 2025 Q3 2026 Q3 2026 Reported Volume Pricing Country Mix Other Local Currency FX Reported Net Sales Net Sales1 Net Sales (1) Non-GAAP Measure. Refer to Appendix for discussion of why the Company be
Slide 12: Regional Net Sales
Regional Net Sales Local Currency Reported Net Sales Net Sales1 Q3 2026 Q3 2025 YoY % Change YoY % Change $ million North America 267.5 263.1 1.7% 1.7% Latin America 250.2 229.6 9.0% 5.1% EMEA 259.0 272.3 (4.9)% (5.2)% Asia Pacific 517.9 437.4 18.4% 26.1% China 55.6 71.3 (22.0)% (26.4)% Worldwide 1,
Slide 13: Adjusted EBITDA Bridge
Adjusted EBITDA1 Bridge $ million % = Adjusted EBITDA1 margin 11.9% 21.6 5.4 9.7 0.2 14.0 182.4 163.0 (11.3) (4.8) (2.0) (2.1) -7.3 India GST (net) (11.3) 12.8% 13.5% Promotional Input Employee Technology Q3 2025 Volume Pricing Sales Mix Salaries Related Other FX Q3 2026 Costs Bonus Costs Spend (1)
Slide 14: Capital Allocation Priorities
Capital Allocation Priorities $250M Board-approved share repurchase authorization1 Invest in Our Business Debt Paydown Repurchase Shares Reinvest in our distributors, products, Continue toward our goal of reducing debt to $1.4B Systematically and opportunistically and digital tools to drive sustaina
Slide 15: Outlook
Outlook Fourth Quarter 2026 Guidance $ million Net Sales Adjusted EBITDA1 CapEx Reported +0.5% to +4.5% YoY 145 – 165 13 – 23 Guidance Assumptions Constant Currency2 +2.5% to +6.5% YoY 155 – 175 • Net sales and adjusted EBITDA1 use the average Q4 2025 Actuals 1,283.0 156.1 18.5 daily exchange rates
Slide 16: Appendix
Appendix Q3 2026 Earnings | 17
Slide 17: Supplemental Information
Supplemental Information Non-GAAP Financial Measures (unaudited) Adjusted G&A, Adjusted EBITDA, Credit Agreement EBITDA, Adjusted Net Income, Adjusted Diluted EPS, Adjusted Effective Tax Rate and Net Debt In addition to its reported results calculated in accordance with U.S. GAAP, the Company has in
Slide 18: Supplemental Information
Supplemental Information Currency Fluctuation The Company’s international operations have provided and will continue to provide a significant portion of its total net sales. As a result, total net sales will continue to be affected by fluctuations in the U.S. dollar against foreign currencies. In or
Slide 19: YTD 2026 Financial Highlights
YTD 2026 Financial Highlights Net Sales Adjusted EBITDA1 Capital Expenditures $4.0B +6.4% $525M +4.6% $41M vs YTD 2025 vs YTD 2025 Adjusted EBITDA1 Margin 10 bps of FX Tailwind $33M Capitalized SaaS vs YTD 2025 13.1% Implementation Costs -30 bps vs YTD 2025 +6.3% YoY at Constant Currency2 $548M at C
Slide 20: YTD Net Sales Bridge
YTD Net Sales Bridge $ million 6.4% +6.3% 0.1% 112.9 232.8 0.9 3,991.3 2.9 3,994.2 3,754.5 (109.8) YTD 2025 YTD 2026 YTD 2026 Reported Volume Pricing Country Mix Other Local Currency FX Reported Net Sales Net Sales1 Net Sales (1) Non-GAAP Measure. Refer to Supplemental Information included herein fo
Slide 21: YTD Regional Net Sales
YTD Regional Net Sales Local Currency Reported Net Sales Net Sales1 YTD 2026 YTD 2025 YoY % Change YoY % Change $ million North America 788.1 789.9 (0.2)% (0.3)% Latin America 737.2 646.5 14.0% 6.6% EMEA 811.6 833.5 (2.6)% (5.8)% Asia Pacific 1,484.3 1,268.5 17.0% 23.4% China 173.0 216.1 (19.9)% (24
Slide 22: YTD Adjusted EBITDA Bridge
YTD Adjusted EBITDA1 Bridge $ million % = Adjusted EBITDA1 margin 4.6% 60.0 31.1 (13.0) (7.2) (7.9) 501.5 524.7 (32.6) 4.6 6.9 4.8 (23.5) (14.5) India GST (net) 0.7 China gov’t grant income 13.4% 13.1% Promotional Input Employee Technology YTD 2025 Volume Pricing Sales Mix Salaries Related Other FX
Slide 23: Reconciliation of G&A to Adjusted G&A
Reconciliation of G&A to Adjusted G&A $ million Q3 2026 Q3 2025 YTD 2026 YTD 2025 Net sales 1,350.2 1,273.7 3,994.2 3,754.5 General and administrative expenses (G&A)1 432.1 413.0 1,299.7 1,221.8 G&A1 as a percentage of net sales 32.0% 32.4% 32.5% 32.6% Expenses related to Technology Realignment Prog
Slide 24: Reconciliation of Net Income to EBITDA, Adjusted EBITDA and Credit Agreement EBITDA
Reconciliation of Net Income (Loss) Attributable to Herbalife to EBITDA, Adjusted EBITDA and Credit Agreement EBITDA and Leverage Ratios (1) Other expenses (income) include certain non-cash items such as bad debt expense, unrealized foreign (4) Represents the ratio of Credit Agreement total debt to
Slide 25: Reconciliation of Net Income to Adjusted Net Income
Reconciliation of Net Income Attributable to Herbalife to Adjusted Net Income $ million Q3 2026 Q3 2025 YTD 2026 YTD 2025 Net income attributable to Herbalife 58.8 43.2 94.4 142.9 Expenses related to Technology Realignment Program1 0.8 0.6 4.3 4.2 Expenses related to Restructuring Program1 ― 0.8 ― 4
Slide 26: Reconciliation of Diluted EPS to Adjusted Diluted EPS
Reconciliation of Diluted EPS to Adjusted Diluted EPS $ per share Q3 2026 Q3 2025 YTD 2026 YTD 2025 Diluted earnings per share 0.55 0.42 0.88 1.38 Expenses related to Technology Realignment Program1 0.01 0.01 0.04 0.04 Expenses related to Restructuring Program1 ― 0.01 ― 0.05 Expenses related to Opti
Slide 27: FX Translation Impact
FX Translation Impact Net Income Net Sales EBITDA Attributable Diluted EPS $ million, except EPS to Herbalife Q3 2026 as reported 1,350.2 170.7 58.8 0.55 Non-GAAP adjustments1 ― 11.7 9.8 0.09 Q3 2026 adjusted 1,350.2 182.4 68.5 0.64 FX rate adjustments2 20.8 11.3 6.6 0.06 Q3 2026 FX Adjusted3 1,371.
Slide 28: Herbalife
Herbalife”