Monsanto Q4 Loss Widens; Announces Global Restructuring - Quick Facts

(RTTNews) - Monsanto Company (MON) reported a fourth-quarter net loss to company of $495 million, compared to a loss of $156 million, prior year. Loss per share from continuing operations was $1.07 compared to a loss of $0.31. For the fourth quarter, the company reported a per share loss of $0.19 on an ongoing basis.

On average, 20 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02 for the quarter. Analysts' estimates typically exclude special items. Net sales were $2.36 billion compared to $2.63 billion last year. Analysts expected revenue of $2.76 billion for the quarter.

Monsanto expects to achieve ongoing EPS of $5.10 to $5.60 in fiscal year 2016. On an as-reported basis, earnings per share is expected to be $4.44 to $5.01. Analysts expect the company to report earnings per share of $6.20.

Monsanto also announced plans for global restructuring actions to enhance competitiveness. Actions, in part, include streamlining and reprioritizing some commercial, enabling and R&D efforts, including the exit of the sugarcane business. The plans include an expected separation of approximately 2,600 employees over the next 18-24 months. The company is developing further plans to reduce its operating spending.

Monsanto plans to enter into a new $3 billion accelerated share repurchase program under its current share repurchase authorization, as it progresses toward its targeted capital structure. The company plans to begin the new accelerated share repurchase program in the near-term and complete it sometime in the next six months.

The company expects to meet its target of more than doubling fiscal year 2014 ongoing EPS by fiscal 2019.