WD-40's Planned Divestiture Faces Headwinds -- Market Talk

Dow Jones10-18

1047 ET - WD-40 is anticipating headwinds from its planned divestiture of its household brands in the Americas and the U.K., CFO Sara Hyzer tells analysts on a call. The company remains in discussions and says it has no certainties in identifying a buyer, but in the event that the divestiture is unsuccessful, the company's guidance would be positively impacted by approximately $23 million in net sales, $6 million in operating income, and $0.33 in diluted EPS on a full year basis, Hyzer says. However, the company expects the divestiture to positively impact working capital and inventory levels. "We forecast an annual boost to gross margin of approximately 60 basis points post-divestiture," Hyzer adds. (jasmine.li@wsj.com)

(END) Dow Jones Newswires

October 18, 2024 10:47 ET (14:47 GMT)

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