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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.
- Sysco Corp (NYSE:SYY) reported second-quarter FY22 sales growth of 41.2% year-on-year, to $16.32 billion, beating the analyst consensus of $16.10 billion.
- The U.S. Foodservice operations segment sales rose 45.1% Y/Y, and International Foodservice sales grew 42.6%.
- Gross profit increased 37.8% Y/Y to $2.9 billion and the gross margin fell 44 basis points to 17.7%.
- The operating margin improved 89 basis points to 2.7%, and operating income for the quarter rose 109.8% to $444.9 million. Non-GAAP operating margin improved 101 basis points to 3%.
- Adjusted EBITDA increased 62.9% Y/Y to $670.7 million in the quarter.
- Adjusted EPS of $0.57 missed the analyst consensus of $0.71.
- Sysco held $1.4 billion in cash and equivalents as of January 1, 2022. Cash provided by operating activities totaled $377 million in the quarter.
- “Bottom-line results for the quarter were below our expectations due to higher than anticipated operating expenses, driven by the current COVID environment,” said CEO Kevin Hourican.
- Price Action: SYY shares are trading higher by 0.61% at $80.42 on the last check Tuesday.
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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