Shares of Herbalife (NYSE: HLF), the global nutrition and weight management company, surged over 18% on Tuesday, October 31, 2024, following the company's impressive third-quarter earnings report and robust efforts to revitalize its business.

For the quarter ended September 30, 2024, Herbalife reported adjusted earnings per share of $0.57, significantly beating analysts' consensus estimate of $0.35. The company's revenue of $1.24 billion was in line with expectations, despite a 3.2% year-over-year decline due to foreign exchange headwinds.

One of the key highlights was Herbalife's progress in rebuilding its distributor base, a critical component of its multi-level marketing model. The company reported a 14% year-over-year increase in new distributors joining worldwide, marking the second consecutive quarter of growth after 12 quarters of declines.

Herbalife attributed this positive trend to initiatives like the newly launched Diamond Development Mastermind program, designed to better train and support its top distributor leaders. The company expects these efforts to drive higher productivity and sales growth going forward.

Additionally, Herbalife raised its full-year 2024 adjusted EBITDA guidance to a range of $590 million to $620 million, up from its previous outlook. The company is also focused on reducing debt, paying down $85 million in the third quarter and lowering its total leverage ratio to 3.3x.