Today, 9:17 AM
- Monsanto (NYSE:MON) -4.6% premarket after reporting FQ4 earnings and revenues that missed expectations, as corn seed sales continue to weaken.
- MON says it plans to cut 2,600 employees over the next two years, ~12% of its global workforce, with the aim of generating $275M-$300M in annual savings.
- MON also plans some restructuring actions costing an estimated $850M-$900M, and announces a new $3B stock buyback program.
- MON forecasts FY 2016 EPS of $5.10-$5.60 vs. $6.24 analyst consensus estimate; "it’s hard to see where growth will come from next year. The seed environment doesn’t seem entirely robust here or in South America,” says Monness Crespi analyst Chris Shaw.
- Says FY 2015 results reflected Y/Y ongoing EPS growth of 10%, or ~17% on an ongoing currency neutral basis, despite the downturn in the agriculture cycle.
- For FQ4, MON says corn sales, its biggest source of profit, fell 5.1% Y/Y to $598M, and soybean sales dropped 19% to $162M; sales in the agricultural productivity segment, which includes the Roundup brand weed killer, fell to $1.1B from $1.25B.
- FQ4 gross margin fell to 42% from 47%.
Today, 8:54 AM
Yesterday, 5:30 PM
Wed, Jun. 24, 8:55 AM
- Monsanto (NYSE:MON) +0.2% premarket after reporting FQ3 earnings that easily beat estimates and sales that rose 8% Y/Y to nearly $4.6B, but it also expects FQ4 earnings to break even while analyst consensus had forecast EPS of ~$0.33.
- MON reaffirms guidance for the full year, expecting EPS at the low end of $5.75-$6.00 vs. $5.77 analyst consensus; gross profit growth percentage in the Seeds and Genomics segment is now seen flat Y/Y, while Ag Productivity gross profit is now seen down only slightly due to the agreement with Scotts Miracle Gro as an offset to the anticipated 15%-17% decline in gross profit from continued softening of generic glyphosate pricing and currency headwinds.
- For the current quarter, corn seed and traits sales of $1.52B were slightly below expectations, while ag productivity sales of $1.39B slightly beat consensus.
- MON says it plans to spend more than $1B over the next three to five years for production of dicamba weedkiller at its plant in Luling, La.; it expects to begin selling crop seeds genetically engineered to tolerate both Roundup and dicamba next year to help farmers control weeds no longer killed by Roundup alone.
Wed, Jun. 24, 8:02 AM
Tue, Jun. 23, 5:30 PM
Wed, Apr. 1, 8:52 AM
- Monsanto (NYSE:MON) -0.6% premarket after missing expectations for FQ2 earnings and revenues on weakness in both its seeds and genomics and agricultural productivity businesses.
- MON says current guidance for FY 2015 EPS is trending at the lower end of its previously forecast $5.75-$6.00 range and below the $5.84 analyst consensus estimate, as a strengthening U.S. dollar erodes sales abroad; MON says the negative effect of currency moves would reduce EPS by $0.35-$0.40.
- FQ2 corn seed and trait sales fell 15% Y/Y to $2.91B, but MON says it remains on track to hold or grow its branded corn-share footprint in every major market despite the decline in acres of corn being planted.
- Soybean seed and traits sales rose 7.7% to $883M; sales in the agricultural productivity business, which consists of crop-protection products and herbicides, fell 14% to $1.02B.
Wed, Apr. 1, 8:04 AM
Tue, Mar. 31, 5:30 PM
Wed, Jan. 7, 8:58 AM
- Monsanto (NYSE:MON) +1.1% premarket after FQ1 earnings and revenues beat expectations but expects FQ2 earnings to fall 5%-10% and lowers its full-year growth outlook for the seeds and genomics segment.
- MON confirms in-line guidance for FY 2015, seeing EPS of $5.75-$6.00 vs. $5.87 analyst consensus estimate, but anticipates fewer acres dedicated to corn in South America and a potential decline in overall pesticide earnings; sees full-year gross profit growth percentage for seeds and genomics in the high single digits, down from double-digits.
- In FQ1, sales in the agricultural productivity business fell 15% Y/Y to $1.25B, corn seed and trait sales fell 12% to $928M, while soybean seed and traits segment sales grew 48% to $396M.
- In October, MON had forecast earnings at roughly half of what it posted a year earlier as market conditions resulted in lower planted acres for cotton and corn.
Wed, Jan. 7, 8:03 AM
Tue, Jan. 6, 5:30 PM
Oct. 8, 2014, 9:06 AM
- Monsanto (NYSE:MON) -0.7% premarket after FQ4 earnings miss Wall Street estimates and the company forecasts below consensus earnings guidance for FY 2015.
- MON sees 2015 EPS of $5.75-$6.00 vs. $6.04 analyst consensus estimate, and warns that its earnings pattern has shifted in recent years, with smaller earnings in its FQ1 and growth concentrated in its FQ3.
- For the current quarter ending in November, MON says it expects earnings to be about half of what it posted a year earlier.
- In its FQ4 ended in August, MON says its soybean seed and traits segment sales more than doubled to $199M, while corn seed and trait sales climbed 1.9% to $630M; sales in the agricultural productivity business, which consists of crop-protection products and herbicides, gained 23.3% to $1.3B.
Oct. 8, 2014, 8:16 AM
Oct. 7, 2014, 5:30 PM
Jun. 25, 2014, 8:47 AM
- Monsanto (MON) +5.5% premarket and perhaps set to open at a new all-time high after beating FQ3 earnings estimates, raising its full-year outlook on a strong outlook for its seeds and traits business, and announcing a $10B share buyback program.
- Raises its full-year EPS and free cash flow guidance to the the upper end of previous ranges; sees EPS of $5.10-$5.20 vs. earlier forecast of $5.00-$5.20 and $5.25 analyst consensus estimate, and free cash flow at the upper end of $700M-$800M range.
- In its new two-year $10B share purchase program, MON says it is targeting $6B in stock buybacks starting in the near term and spanning up to 12 months.
- Gross margin rose to 54.8% from 53.2%.
MON vs. ETF Alternatives
Monsanto Co is a provider of agricultural products for farmers. The Company offers corn, soybean, cotton, wheat, canola, sorghum and sugar cane seeds. Its segments are Seeds and Genomics and Agricultural Productivity.
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