Herbalife Ltd. (NYSE:HLF) released its third quarter earnings report tonight after closing bell, posting adjusted earnings of $1.21 per share on $1.1 billion in net sales. Analysts had been expecting adjusted earnings of $1.09 per share on $1.14 billion in revenue.

The company had guided for adjusted earnings to be between 98 cents and $1.08 per share and sales to grow by between 2% and 5%. Herbalife also guided for volume growth of 5% to 8% for the third quarter. In last year’s third quarter, Herbalife reported $1.1 billion in sales and $1.26 per share in adjusted earnings.

Herbalife Ltd. Shares Slip After Earnings Beat, Net Sales Miss

Herbalife’s earnings fall

Herbalife’s GAAP earnings fell to $1.01 per share or $87.7 million in net income. In last year’s third quarter, the company reported $93.6 million in net income and $1.09 per share in GAAP earnings. The company said currency fluctuations had a negative impact of 21 cents per share on both GAAP and adjusted earnings per share.

Total volume points increased 6% year over year. North America volume points grew 9%, while Asia Pacific volume points increased 7%. EMEA volume points grew 15%, while Mexico volume points increased 13%. South and Central America volume points declined 15%, while China volume points increased 2%.

North America net sales increased 10% to $241 million, while Asia Pacific sales increased 3% to $231.4 million. Sales in the EMEA region grew 10% to $201.6 million, while Mexico sales declined 1% to $112.8 million. Sales in South and Central America declined 12% to $121 million, while China sales slipped 5% to $214.2 million.

Herbalife raises guidance

Herbalife also raised its guidance for reported and adjusted earnings for the full year. The new GAAP earnings range is $2.77 to $2.97 per share, while the new adjusted earnings range is $4.65 to $4.85 per share. The previous ranges were $2.30 to $3.60 per share and $4.50 to $4.80 per share, respectively. Consensus stands at $4.83 per share.

For 2017, Herbalife expects volume to grow by 2% to 5% and GAAP earnings to be between $3.95 and $4.35 per share. The company expects adjusted earnings to be between $4.60 and $5 for the full year.

Shares of Herbalife slipped by as much as 1.98% to $57.95 in after-hours trades.