Herbalife Nutrition Ltd. shares fell in the extended session Monday after the nutrition products company cut its outlook after providing one a little over a month ago because of lingering pandemic slowness.

Herbalife
HLF,
+1.40%

shares dropped 8% after hours, following a 1.4% rise to close the regular session at $54.24. Shares have gained 11% over the past 12 months, compared with a 34% rise in the S&P 500 index
SPX,
+0.23%
.

The company expects adjusted earnings of $1 to $1.20 a share for the third quarter, and $4.55 to $4.95 a share for the year, because of “lower than expected levels of activity amongst its independent distributors.”

Back in August, Herbalife had forecast third-quarter earnings of $1.05 to $1.25 a share, and full-year earnings of $4.70 to $5.10 a share. Based on that, analysts surveyed by FactSet had forecast $1.17 a share for the third quarter and $4.99 a share for the year.

“We are on track for another record sales year with a sustained growth trajectory and significant cash generation, positioning us to continue to benefit from the fundamental tailwinds driving the nutrition industry globally and the strong demand for our science-based products, as consumers continue to appreciate the value of good nutrition,” said John Agwunobi, Herbalife chief executive, in a statement.

“Yet, uncertainty in global markets, fueled by the extended period of the pandemic, has brought about unique challenges in predicting behavior in the channel,” he said.

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