Shares are down 19.7 percent since the company reported the first earnings miss in more than two years. Revenue was 3.7 percent below the revenue estimate at $1.31 billion versus $1.22 billion. This generated EPS of $1.55, $0.02 below what Wall Street was looking for.
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The column reported that “results could have been worse.” However, the column also cited Garrett Arms of Moon Capital Management, who said earnings could have been as low as $0.65 per share if a more realistic Venezuelan currency translation.
Herbalife’s second quarter earnings report was on the tail of a Bill Ackman whipsaw. Shares traded in $13 range over two days as Ackman drove the price down by implying a smoking gun, but failed to provide one.
The issue was last trading 2.05 percent lower to $51.49.
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