Reports Q1 (Mar) earnings of $1.50 per share, $0.21 better than
the Capital IQ Consensus Estimate of $1.29; revenues rose 15.8% year/year to $1.3 bln vs the $1.23 bln consensus.
Accelerates Capital Return
- Worldwide Volume Points increases 9% y/y to 1,379 mln; Average Active Sales Leaders increases 11% y/y to 329.9 mln
- Co issues in-line guidance for Q2, sees EPS of $1.51-1.55 vs. $1.55 Capital IQ Consensus Estimate. Co sees revenue growth in the 10-12% range; sees Volume Point Growth between 7-9%.
- Co issues upward guidance for FY14, sees EPS of $6.10-6.30 vs. $6.02 Capital IQ Consensus Estimate; raises revenue growth outlook to 10-12% from 7.5-9.5%. Sees Volume Point Growth in the range of 8-10%.
- The company's board of directors also announced today that it has approved terminating the company's quarterly cash dividend and instead utilizing the cash to repurchase additional shares of the company's outstanding common stock during the second quarter of 2014. The company now expects to repurchase a total of $581 million of its outstanding common stock during the second quarter of 2014 as part of its previously announced $1.5 billion share repurchase program. The $581 million is comprised of the approximately $315 million expected to be purchased in April as part of a 10b5-1 trading plan ($255 million already completed as of Friday, April 25); plus the $50 million included in previous guidance and $216 million that otherwise was expected to be returned to shareholders in the form of quarterly cash dividends over the next eight quarters.