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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.
- ODP Corp (NASDAQ:ODP) reported a third-quarter FY21 sales decline of 7% year-on-year, to $2.18 billion, missing the analyst consensus of $2.27 million.
- Business Solutions Division sales fell 2% Y/Y, and Retail division decreased 13%.
- Adjusted EPS of $1.76 beat the analyst consensus of $1.52.
- The gross profit declined 7.9% Y/Y to $504 million with a margin of 23.1%.
- The operating margin was 4.8%, and operating income for the quarter rose 1.9% to $104 million. The adjusted operating income amounted to $122 million.
- Adjusted EBITDA declined 7% Y/Y to $162 million.
- ODP held $753 million in cash and equivalents as of September 25, 2021. Cash provided by operating activities totaled $121 million, and the free cash flow was $102 million.
- "The pace of back-to-office trends was slower during the quarter due to the well-publicized spread of the Delta variant," said CEO Gerry Smith.
- ODP said it continues to progress on its plans to separate into two, independent, publicly-traded companies.
- ODP said it is also advancing its collaboration with Microsoft Corp (NASDAQ:MSFT) and remains focused on bringing BuyerQuest's value proposition to Microsoft's Business Central customers in the future.
- Price Action: ODP shares are trading lower by 3.10% at $43.00 on the last check Wednesday.
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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