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>Multi-year share repurchase program announced. On September 8, 2026, HLF announced its board authorized the repurchase of up to $250M of stock over three years.</li><li>It reflects the company’s confidence in its business strategy, financial outlook, and ability to generate sustainable free cash flow (FCF), while providing an additional avenue to create long-term value for shareholders. </li><li>The program provides HLF with flexibility to opportunistically repurchase shares when management and the board believe doing so represents an attractive use of capital.</li></ul></div>

Multi-year share repurchase program announced. On September 8, 2026, HLF announced its board authorized the repurchase of up to $250M of stock over three years.It reflects the company’s confidence in its business strategy, financial outlook, and ability to generate sustainable free cash flow (FCF), while providing an additional avenue to create long-term value for shareholders. The program provides HLF with flexibility to opportunistically repurchase shares when management and the board believe doing so represents an attractive use of capital.

HLF: Can the Company Repurchase Stock and Still Hit Its 2028 Debt Target?

Herbalife Ltd

HLF: Can the Company Repurchase Stock and Still Hit Its 2028 Debt Target?