Monsanto Earnings: Fifth STRAIGHT Quarter of Double-Digit Revenue Growth

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

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Monsanto Company Earnings Cheat Sheet

Results: Net income for Monsanto Company rose to $937 million ($1.74 per share) vs. $692 million ($1.28 per share) in the same quarter a year earlier. This marks a rise of 35.4% from the year-earlier quarter.

Revenue: Rose 16.9% to $4.22 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Monsanto Company beat the mean analyst estimate of $1.59 per share. It beat the average revenue estimate of $4 billion.

Quoting Management: “With our most significant selling seasons wrapped up, the third quarter gives us a near complete view of our business for the fiscal year and I feel very good about where we stand,” said Hugh Grant, Monsanto’s chairman, president and chief executive officer. “We’ve achieved excellent business results this year, but more importantly we’ve continued to receive positive response to our products from farmers. As I look to 2013 and beyond, I am confident as our momentum is now validated with sustained business results and I believe the opportunity ahead for our customers, our business and our owners is significant.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 16 cents in the second quarter, by 4 cents in the first quarter, and by 5 cents in the fourth quarter of the last fiscal year.

Looking Forward: The average estimate for the fourth quarter is down from a loss of 21 cents per share ninety days ago to a loss of 38 cents, indicating that analysts are increasingly pessimistic about the company’s next quarter performance. The average estimate for the fiscal year is $3.70 per share, a rise from $3.51 ninety days ago.

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

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