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Monsanto Announces Second-Quarter Financial Results
ST. LOUIS, April 6, 2011 With half its fiscal year complete, Monsanto Company (NYSE: MON) today said a solid sales season for its U.S. seeds and traits business and disciplined approach to spending have positioned the company to realize its mid-teens earnings growth opportunity this year and set a strong foundation for coming seasons. In reporting its earnings results for the quarter ending Feb. 28, 2011, the company highlighted performance tracking with projections in both the seeds and genomics and agricultural productivity segments that affirms its full-year ongoing earnings per share guidance. The company also increased its free cash flow guidance for the full-year, driven by better than expected working-capital management and a strong economic climate in agriculture.
"We came into this year with an operational plan built around creating value for our customers," said Hugh Grant, chairman, president and chief executive officer for Monsanto. "It was a plan that was designed for balanced growth across crops, across geographies and through a combination of mix and volume improvements. We exist to serve our farmer customers, and it is rewarding to see this plan is resonating with them. Given the tempo of the year, we are where we should be, and we have the right pieces and the right execution to feel very good that mid-teens earnings growth in 2011 is on track."
For further information visit the company's web site at www.monsanto.com and click on "Investor Information."