Apr. 9, 2013
Monsanto’s sales result ($ million)
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Q2 ended February 28
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Q2 2013
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Q2 2012
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change%
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Six-month of 2013
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Six-month of 2012
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change%
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|
Sales
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5,472
|
4,748
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15.2
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8,411
|
7,187
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17.0
|
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Seeds & traits
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4,346
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3,924
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10.8
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6,101
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5,458
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11.8
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Agrochemicals
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1,126
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824
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36.7
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2,310
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1,729
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33.6
|
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EBIT1
|
|
1,781
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17.7
|
2,586
|
2,010
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28.7
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Seeds & traits
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1,840
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1,699
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8.3
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2,060
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1,846
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11.6
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Agrochemicals
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256
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82
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212.2
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526
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164
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220.7
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Net income
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1,483
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1,212
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22.4
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1,832
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1,346
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36.1
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1 earnings before interest & taxes
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The current and emerging opportunities in the company's global soybean business complement the global corn business. In the United States, the company has achieved strong results year-to-date, with the positive order book and shipments positioning the company well to deliver to the high end of its 39 million to 41 million acre target range for its Genuity® Roundup Ready 2 Yield® platform. This performance comes as the company prepares to enter the next phase of innovation in its soybean platform, including the addition of both Roundup Ready 2 Xtend™ and Intacta RR2 PRO™ soybeans. The company noted that new results from its second year of Intacta RR2 PRO™ Ground Breakers® on-farm field trials in Brazil have demonstrated a better than 4 bushel per acre yield advantage against first-generation Roundup Ready® soybeans at more than 1,000 locations, double the number of locations from its 2012 Ground Breakers® on-farm field trials in Brazil.
Monsanto’s agrochemical sales rose by 36.7% to $1,126 million in the second quarter ,for the six months of the year, the sales were up by 33.6% to $2,310million compared with the same period of previous year. This growth was due to higher prices for glyphosate, reflecting the continued benefit of a favorable marketplace environment. The company remains focused on its established Roundup® strategy.
Out look
The company raised its full year ongoing EPS guidance to $4.40 to $4.50 per share. Full year 2013 EPS guidance on an as-reported basis is expected in the range of $4.42 to $4.52 per share. The company affirmed its previously announced full year free cash flow guidance of $1.8 billion to $2 billion. The company expects net cash provided by operating activities to be $2.9 billion to $3.3 billion, and net cash required by investing activities to be $1.1 billion to $1.3 billion for fiscal year 2013.
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