other material
confidence high
sentiment negative
materiality 0.70
Nu Skin to exit Grow Tech segment, expects $52-60M in pre-tax charges
NU SKIN ENTERPRISES, INC.
- Decision to wind down controlled-environment agriculture business, focused on feed industry.
- Non-cash charges: ~$18M goodwill/intangibles, ~$14M fixed assets, ~$7M inventory write-down.
- Cash charges: ~$7M severance and $10-18M contract termination/legal costs.
- Substantially all non-cash and severance charges expected in Q4 2021; remainder later.
- Charges not reflected in prior 2021 Q4 or full-year financial guidance.