Monsanto Earnings Fall in Second Quarter2 years ago -
With half its fiscal year complete, Monsanto Company highlighted progress on key milestones related to its long-term growth, including strong performance of Intacta RR2 PRO soybeans, advancement of pre-commercial activities for Roundup Ready 2 Xtend soybeans and the continued expansion of its global corn business.
In its report, Monsanto also noted estimates for fiscal year 2015 earnings per share and free cash flow remain within the ranges of its original guidance but are at the lower end of the ranges, in part due to declining corn acres and a strengthening U.S. dollar. According to its second quarter financial results, Monsanto earnings fell 15 percent. Net sales for the fiscal year 2015 second quarter decreased during the prior year’s second quarter to approximately $5.2 billion, with gross profit for the quarter also decreasing during the prior year period to $3 billion. For the first six months, net sales were approximately $8.1 billion and gross profit approximately $4.5 billion.
“The key milestones we achieved in the first half of fiscal year 2015 are a cornerstone to the long-term growth drivers needed to propel us to our target to more than double ongoing earnings per share by 2019,” says Hugh Grant, Monsanto chairman and CEO. “As we move into the second half of the year, we remain focused on our long-term growth drivers, with disciplined near-term execution and focus on our customers.”