other material
confidence high
sentiment neutral
materiality 0.70
WDC files pro forma financials for HDD business after Sandisk spin-off; H1 FY2025 net income $634M
WESTERN DIGITAL CORP
- Spin-off completed Feb 21, 2025; WDC distributed 80.1% of Sandisk shares, retains 19.9% stake.
- Pro forma H1 FY2025 (Dec 27, 2024): revenue $4.621B, net income from continuing ops $653M, diluted EPS $1.78.
- Pro forma FY2024: revenue $6.317B, net loss $789M, diluted EPS ($2.42); FY2023: revenue $6.255B, net loss $896M.
- WDC received ~$1.445B from Sandisk; pro forma long-term debt reduced to $5.786B from $7.216B.
- Management expects ~$270M annual cost savings; H1 FY2025 pro forma EPS after adjustments: $1.97.