Shares of American multinational agrochemical and agricultural biotechnology corporation, Monsanto (NYSE: MON), rose after topping analysts’ expectations. For its fourth quarter earnings, the company beat with EPS of $0.07 on revenue $2.56 billion, compared to expectations called for a net loss of $0.02 of $2.62 billion.
CEO and board chair of Monsanto, Hugh Grant commented, “Despite challenges to our business in fiscal year 2016, we delivered on the drivers that position Monsanto for the return to EPS growth in the year ahead. To see it through, our fiscal year 2017 priorities are focused on delivering on the operational plan and key business milestones for the year, while also executing on the necessary steps to close the deal with Bayer. Ultimately, we believe that combining with Bayer represents the most compelling value for our shareowners, with the most certainty through the all-cash consideration.”
Outlook for Next Quarter
Monsanto reports their next quarterly guidance is EPS of $4.50-$4.90, vs. $4.92 analyst estimates and expects free cash flow of $1.4B-$1.5B, speculating the positive sales of the Precision Planting equipment business and a meaningful first-year investment in its dicamba production facility.