Life orb increases a Pokemons attack by 30%. Guts increases its wielded attack by fifty percent. So lets do a little algebra if you don't mind
Y=Heracross's power
X=heracross's normal attack
1.5=guts boost
1.3=life orb boost
Y=1.51.3X
So you get a final equation of
Y=1.95x
Basically, with a life orb and guts activated, your heracross will be 1.95 times more powerful than normal. Hope this helped.