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.
- J M Smucker Co (NYSE:SJM) reported fourth-quarter FY22 sales growth of 6% year-on-year to $2.03 billion, beating the consensus of $1.98 billion.
- Net sales excluding divestitures and foreign currency exchange increased 9%.
- Adjusted EPS of $2.23 beat the analyst consensus of $1.88.
- Gross profit decreased 9% Y/Y to $666.7 million and the gross margin contracted by 550 basis points to 32.8%.
- The operating margin expanded 240 basis points to 14.8%, and operating income for the quarter rose 27% to $302 million.
- The company held $169.9 million in cash and equivalents as of April 30, 2022. Cash provided by operating activities totaled $393.7 million with a free cash flow of $220.7 million.
- Outlook: J M Smucker sees FY23 adjusted EPS of $7.85 - $8.25 (consensus $8.91). It sees net sales increase to be 3.5% - 4.5%.
- Price Action: SJM shares are trading lower by 0.78% at $122.30 in premarket 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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