HLF Herbalife Ltd

Herbalife Ltd. on Tuesday lifted its earnings outlook for the year, though the nutritional-products company logged a decline in volume for its third quarter despite double-digit growth in China.

Shares, up 53% this year, fell 2.5% in after-hours trading.

Herbalife sells a range of products, including weight-loss shakes and fitness supplements, operating through a global network of independent distributors.

The company has been embroiled in a public battle with Pershing Square Capital Management LP's William Ackman, who has attempted to convince other investors that Herbalife is a pyramid scheme. Herbalife has denied the accusations, but shares of the company have been volatile since Mr. Ackman first disclosed a billion-dollar bet against the company in December 2012.

In the latest quarter, world-wide volume slipped 3%, as 24% growth in China was offset by a 6% decline in North America, a 15% drop in Asia Pacific and a 5% slump in Mexico.

Overall, the company reported earnings of $93.6 million, or $1.09 a share, compared with year-earlier earnings of $11.2 million, or 13 cents a share.

The quarter included $2.8 million in expenses incurred to respond to attacks on the company's business model and $4.7 million in expenses related to regulatory inquiries.

Excluding those and other special items, per-share earnings were $1.28 a share.

Sales fell 12% to $1.1 billion, but would have grown 5% excluding currency swings.

Analysts polled by Thomson Reuters expected $1.05 a share in adjusted earnings and $1.15 billion in revenue.

For the 2015 year, the company now expects earnings, excluding items, of $4.65 to $4.75 a share, up from its previous range of $4.50 to $4.70 a share in earnings.

For 2016, the company forecast adjusted earnings of $4.35 to $4.75 a share, including a 50 cent headwind from currency fluctuations.

Write to Chelsey Dulaney at Chelsey.Dulaney@wsj.com

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(END) Dow Jones Newswires

November 03, 2015 17:45 ET (22:45 GMT)

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