Research from Water Tower Research, Water Tower Research

Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Research from Water Tower Research

Equity Research Firm

Equity Bottom-Up

<div><ul><li>HLF preannounced 1Q26 sales and adjusted EBITDA above consensus and updated its debt refinancing plans.</li><li>1Q26 reported dollar sales are now expected to be up 7.5-8.0% Y/Y, above HLF’s previous expectations of 3.0-7.0% and FactSet consensus of 5.0%.</li><li>Constant currency sales are now expected to be up 5.0-5.5%, above the company’s previous expectations of 0.5%-4.5%.</li></ul></div>

HLF preannounced 1Q26 sales and adjusted EBITDA above consensus and updated its debt refinancing plans.1Q26 reported dollar sales are now expected to be up 7.5-8.0% Y/Y, above HLF’s previous expectations of 3.0-7.0% and FactSet consensus of 5.0%.Constant currency sales are now expected to be up 5.0-5.5%, above the company’s previous expectations of 0.5%-4.5%.

HLF: 1Q26 Upside Preannounced; Debt Refinancing Could Meaningfully Improve Financial Profile

Herbalife Ltd

HLF: 1Q26 Upside Preannounced; Debt Refinancing Could Meaningfully Improve Financial Profile