Monsanto (MON) Tops Q3 EPS by 33c

Monsanto (NYSE: MON) reported Q3 EPS of $2.39, $0.33 better than the analyst estimate of $2.06. Revenue was $4.58 billion, with estimates at $4.61 billion.

“The challenges facing the world’s food supply continue to evolve. The growing population, along with our volatile and changing climate, place ever-increasing burdens on sustainable global food production,” said Hugh Grant, chairman and chief executive officer for Monsanto. “Equipping farmers with the right set of innovations that will help solve tomorrow’s food challenges today requires more than a new company - it requires a new vision and approach. Our proposal to combine with Syngenta is an exciting logical next step for our business, offering the opportunity to accelerate innovation and support a more diverse group of farmers around the world.”

“The strength of our global portfolio, and ability to innovate and create value has really been highlighted in the current agriculture environment,” said Brett Begemann, president and chief operating officer for Monsanto. “As I look at this year, we’ve delivered on many of the key milestones that we expect will enable us to continue to meet the needs of our customers and propel our growth. These milestones, along with licensing opportunities, disciplined spend and a solid capital allocation strategy, back our confidence in our ability to deliver on our target to more than double our 2014 ongoing earnings per share by 2019.”

For earnings history and earnings-related data on Monsanto (MON) click here.

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