Monsanto (MON) Tops Q1 EPS by 20c

Monsanto (NYSE: MON) reported Q1 EPS of $0.21, $0.20 better than the analyst estimate of $0.01. Revenue for the quarter came in at $2.22 billion versus the consensus estimate of $2.28 billion.

GUIDANCE:

Monsanto sees FY2017 EPS of $4.50-$4.90, versus the consensus of $4.72.

“We’ve been very pleased with the strong support - especially from shareowners and growers - for the agreement to combine with Bayer,” said Hugh Grant, chairman and chief executive officer. “We expect the combination with Bayer to amplify the rate of innovation faster than either company could achieve alone, which will be critical in helping to increase grower productivity to meet projected demand in the decades ahead.”

“The last several years have brought record-breaking achievements for our pipeline, and this year is no different,” said Robb Fraley, Ph.D., executive vice president and chief technology officer, regarding this year’s annual pipeline update. “To answer the challenges growers face, our teams have been successful in finding the best scientific disciplines for the job - whether it’s breeding, biotech, crop protection, biologicals or Climate FieldView™ products. And with Bayer, we truly see the opportunity to accelerate innovation, optimize integrated solutions and expand offerings - translating to significant benefits for farmers.”

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Outlook Therapeutics (OTLK) Misses Q3 EPS by 9c
• SVB & T Corporation (SVBT) Tops Q2 EPS by 275c