Advance Auto Parts closes $1.5B sale of Worldpac to Carlyle; net proceeds ~$1.2B

ADVANCE AUTO PARTS INC

Sale completed Nov 1, 2024 for ~$1.5B in cash; net proceeds estimated at ~$1.2B after taxes and transaction costs.
Historical Worldpac results will be reported as discontinued operations from Q3 2024 onward.
Company plans to provide strategic priorities update and revised annual financial guidance on Nov 14, 2024 together with Q3 results.
Pro forma financials show FY2023 net income swings from $29.7M to a loss of $30M excluding Worldpac contribution.
Proceeds expected to be used for working capital, operational improvements, and debt repayment/refinancing.

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