Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Spectrum Brands Holdings Inc (NYSE:SPB) reported third-quarter FY21 sales growth of 18.1% year-on-year, to $1.163 billion, missing the analyst consensus of $1.18 billion. Organic net sales increased 12.0%.
- Net sales from the Hardware & Home Improvement segment rose 48.8% Y/Y, Home & Personal Care increased 9.5%, Global Pet Care sales gained 6.5%, and Home & Garden rose 0.7%.
- Gross profit rose 16.8% Y/Y to $407.4 million with a profit margin contracted 40 basis points to 35%.
- The operating margin was 8.2%, and operating income for the quarter rose 3.5% to $98 million.
- The company held $130.2 million in cash and equivalents as of July 4, 2021. Net cash provided by operating activities for nine months amounted to $8.9 million.
- Adjusted EBITDA of $167.4 million rose 1.8% Y/Y.
- Adjusted EPS of $1.57 met the analyst consensus estimate.
- Outlook: Spectrum Brands continues to expect mid-teens reported net sales growth, with a positive impact from the foreign exchange based upon current rates.
- Adjusted EBITDA to increase mid-teens and Adjusted free cash flow of $260 million - $280 million.
- Price action: SPB shares traded lower by 1.31% at $82.0 on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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