Shares of Herbalife Ltd. jumped in after-hours trading Tuesday as the seller of supplements and weight-loss products boosted its outlook for the year.
The company now expects full-year earnings in the range of $4.30 to $4.60 per share, up from its previous forecast between $4.10 and $4.50 per share. Analysts expected $4.22 per share, according to FactSet.
For the current quarter ending in June, Herbalife expects its per-share earnings to range from $1.05 to $1.15. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.06.
The George Town, Cayman Islands-based company reported first-quarter profit of $78.2 million, or 92 cents per share. Earnings, adjusted for non-recurring costs, came to $1.29 per share. A year ago, Herbalife earned $74.6 million, or 74 cents per share.
It posted revenue of $1.11 billion in the period, a 12 percent decline. Excluding the impact of currency sales rose 4 percent. The company posted lower revenue in all regions except China, where revenue rose 21 percent to $164.2 million.
Shares of Herbalife jumped nearly 15 percent to $46 after the market closed Tuesday. Herbalife’s shares are down about 34 percent in the past 12 months. The company has been under attack by activist investor Bill Ackman, who says Herbalife is a pyramid scheme. Herbalife has denied that.