Monsanto Q2 Profit Down; Trending To Low End Of FY EPS Guidance Range

(RTTNews) - Monsanto Co. (MON) reported that its second-quarter net income attributable to company decreased to $1.425 billion from the prior year's $1.670 billion, with earnings per share declining to $2.92 from $3.15 in the previous year.

Earnings per Share from Ongoing Business dropped to $2.90 from $3.15 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $2.93 per share for the quarter. Analysts' estimates typically exclude special items.

Net Sales for the quarter declined to $5.197 billion from $5.832 billion in the prior year quarter. Wall Street expected revenues of $5.58 billion for the quarter.

The company affirmed its previously announced earnings per share guidance outlined at the beginning of the fiscal year, although noted it was now trending to the low end of the range.

Fiscal-year 2015 ongoing earnings per share guidance is expected to be in the low end of the range of $5.75 to $6.00. Full-year 2015 earnings per share guidance on an as-reported basis is expected in the low end of the range of $5.80 to $6.05 per share. Analysts expect annual earnings of $5.83 per share.

The earnings per share guidance is inclusive of what is now expected to be a $0.35 to $0.40 headwind for this fiscal year driven by the significant deterioration of several key currencies versus the U.S. dollar.