National Agri-Marketing Association
NAMA Website
Upcoming Events
Agri-Marketing Conf
Best of NAMA 2017
Member Directory

Source: Monsanto news release

To read the entire report click here.

Monsanto Company (NYSE: MON) delivered on track results for the first quarter of its fiscal year as the company reaffirmed its earnings growth and free cash flow guidance for fiscal year 2014.

The company previewed a strong U.S. order book and noted that it is on track to deliver its largest soybean launch with an expected three million acres of Intacta RR2 PRO™.

The company also highlighted a record 29 phase advancements across its research and development (R&D) platforms, including breeding, biotechnology, and new breakthrough areas such as Integrated Farming Systems® and agricultural biologicals.

"The first quarter demonstrated that our business performance is squarely on track with several key milestones and that we have the right growth strategy in place," said Hugh Grant, chairman and chief executive officer for Monsanto. "The strength in our business is also seen in the record number of research and development advancements this year. It's the innovation in our pipeline that's going to define what's next for our industry and help deliver on our commitment to bring additional opportunity for farmers around the world."

Results of Operations

Net sales for the quarter increased over the prior year's first quarter to $3.1 billion. Gross profit for the 2014 first quarter also increased over the prior year period to $1.6 billion.

Selling, general and administrative (SG&A) costs were $589 million in the first quarter. R&D expenses increased year-over-year to $409 million for the quarter. Both SG&A and R&D costs increased based in part on investments to support new platforms and product launches.

The company's first quarter earnings per share (EPS) was $0.67 on an ongoing and $0.69 on an as-reported basis. (For a reconciliation of ongoing EPS, see note 1.)

Search News & Articles

Proudly associated with:
American Business Media Canadian Agri-Marketing Association National Agri-Marketing Association
Agricultural Relations Council National Association of Farm Broadcasters American Agricultural Editors' Association Livestock Publications Council
All content © 2018, Henderson Communications LLC. | User Agreement