Herbalife released estimated fourth-quarter profit and sales Monday, which were above analysts’ expectations, sending its shares up more than 5 percent in premarket trading.
The nutrition and weight loss company’s stock has cratered 18 percent since the start of the year, also raised its share repurchase program and said it planned to raise $1 billion through a convertible note issue.
Herbalife said on Monday its estimated adjusted earnings of $1.26-$1.30 per share for the fourth quarter ended December 31.
Analysts were looking for a profit of $1.17 per share, according to estimates.
The company said fourth-quarter sales rose about 19.8 percent, which translates to about $1.27 billion and beats the average analyst estimate of $1.22 billion.
The company increased its share repurchase program to $1.5 billion from $1 billion, and said it planned to offer $1 billion in convertible senior notes due 2019 to fund the buyback.