Herbalife Ltd.

Good afternoon, and thank you for joining the first quarter 2020 earnings conference call with Herbalife Nutrition Limited. On the call today is Dr. John Agwunobi, the company's CEO, John D. Simone, the company's president, Alex Emezquita, the company's senior vice president of finance, strategy, and investor relations, and Eric Monroe, the company's director, investor relations. I would now like to turn the call over to Eric Monroe to read the company's safe harbor language.

Before we begin... As a reminder, during this conference call, we may make forward-looking statements within the meaning of the federal securities laws. These statements involve assumptions and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated. For a complete discussion of risks associated with these forward-looking statements in our business, we encourage you to refer to today's earnings release and our SEC filings including our most recent annual report on Form 10-K and quarterly report on Form 10-Q. Our forward-looking statements are based upon information currently available to us. We do not undertake any obligation to update or release any revision to any forward-looking statement or to report any future events or circumstances or to reflect the occurrence of unanticipated events. In addition, during this call, certain financial performance measures may be discussed that differ from comparable measures contained in our financial statements prepared in accordance with U.S. generally accepted accounting principles referred to by the Securities and Exchange Commission as non-GAAP financial measures. We believe that these non-GAAP financial measures assist management and investors in evaluating our performance, and preparing period-to-period results of operations in a more meaningful and consistent manner, as discussed in greater detail in the supplemental schedules to our earnings release. A reconciliation of these non-GAAP measures to the most comparable GAAP financial measures is included in our earnings press release submitted to the SEC. These reconciliations, together with additional supplemental information, are available at the Investor Relations section of our website, Herbalife.com. When management makes reference to volumes during this conference call, they are referring to volume points. I will now turn the call over to our chairman and CEO, John Aguinobi.

Good afternoon, everyone. First and foremost, I hope you and your families are all safe and healthy. This is an extremely challenging time for us all, and our thoughts are with those most affected by this global pandemic, especially those on the front lines of the crisis. As you saw from our press release, the first quarter was an all-time high in terms of volume points. We and our distributors are working hard to overcome the various challenges we've encountered to ensure our nutrition products are accessible to customers. Our factories, as well as our third-party manufacturing facilities, are operating at close to normal capacity. As many of you know, the majority of our products are foods. Yet there have been last mile delivery disruptions and nutrition club restrictions in various markets. We believe the strength of our direct selling model and our culture of collaboration with our distributors have helped us minimize the impact of those disruptions to date by sharing best practices and developing localized solutions. Our distributors have been utilizing consumer-facing technology to interact with their customers, particularly in cases where face-to-face interactions are unable to take place. Attendance at virtual product training and business opportunity meetings has been extraordinarily strong. For example, a recent virtual meeting in North America had over 40,000 participants. Additionally, we've been utilizing our training teams in new and exciting ways. For example, our doctors have offered virtual trainings on our products and on how to stay safe and healthy. And our sponsored athletes and fitness experts are leading at-home virtual workouts around the world. The learnings and enhancements that we have had from this time will only benefit us in the future. While we focus on the immediate priorities related to the pandemic, we continue our work to successfully deliver against our strategic initiatives. Our strategy is working, yet we're constantly learning new ways to build it better and to innovate, so that we come through each challenge stronger than before. We will continue to evolve our strategy to best support our distributors as they grow their businesses and drive the company forward. Turning now to updates on our top four markets. Let's start with China, where volume points grew 29% compared to the first quarter of 2019. While this growth was extraordinary and due to the team's ability to quickly adjust to changing