Monsanto Company Earnings: Beats Estimates

S&P 500 (NYSE:SPY) component Monsanto Company (NYSE:MON) reported net income above Wall Street’s expectations for the first quarter. Monsanto manufactures agricultural products.

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Monsanto Company Earnings Cheat Sheet for the First Quarter

Results: Net income for the agricultural chemicals company rose to $126 million (23 cents per share) vs. $9 million (2 cents per share) in the same quarter a year earlier. This marks a substantial increase from the year earlier quarter.

Revenue: Rose 33.3% to $2.44 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: MON beat the mean analyst estimate of 19 cents per share. It beat the average revenue estimate of $2.04 billion.

Quoting Management: “We’ve seen a very strong start to the year, with real growth in Latin America and early orders in the United States that underscore our sustained momentum carrying into 2012,” said Hugh Grant, chairman, president and chief executive officer for Monsanto. “We are pleased growers have recognized the value of our products and the benefits they provide on farm. Our pipeline progress continues to be a competitive differentiator, and that’s ever more important as we put an even greater focus on delivering yield to growers.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 5 cents in the fourth quarter of the last fiscal year, by 15 cents in the third quarter of the last fiscal year, and by 3 cents in the second quarter of the last fiscal year.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from $2.26 a share to $2.10 over the last ninety days. For the fiscal year, the average estimate has moved down from $3.44 a share to $3.42 over the last thirty days.

Competitors to Watch: Syngenta AG (NYSE:SYT), The Scotts Miracle-Gro Co. (NYSE:SMG), The Dow Chemical Company (NYSE:DOW), FMC Corporation (NYSE:FMC), The Mosaic Company (NYSE:MOS), American Vanguard Corp. (NYSE:AVD), CF Industries Hldgs., Inc. (NYSE:CF), IGENE Biotechnology, Inc. (IGNE), TyraTech, Inc. (TYR), and Origin Agritech Ltd. (NASDAQ:SEED).

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

 

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com