The agricultural solutions provider,
) recently enhanced its outlook for fiscal 2013 as well as fiscal
2014, on the back of significant growth in the core business.
Monsanto's Chairman, President and CEO, Mr. Hugh Grant made
the announcement at the Sanford Bernstein 29th Annual Strategic
Decisions Conference, held on May 29, 2013. According to Mr.
Grant, Monsanto is likely to benefit from the continued growth
trend experienced in the first half of the ongoing fiscal.
In the fiscal second quarter 2013 earnings, announced on Apr
3, Monsanto projected its ongoing earnings per share of
$4.40-$4.50 and $4.42-$4.52 on an as-reported basis for fiscal
2013. However, it has now increased its outlook to $4.50-$4.55
per share on an ongoing basis as well as $4.52-$4.57 on an
as-reported basis for the same period.
The earnings per share growth for fiscal 2013 is now estimated
to be 20.0% higher than the year ago. Also, third quarter of
fiscal 2013 is expected to generate earnings in the range of
$1.55-$1.60 per share. Loss expectations for fiscal fourth
quarter 2013 are also trimmed down.
Monsanto's Agricultural Productivity segment experienced a
year-over-year revenue rise of 36.7% in the fiscal second quarter
of 2013. It is expected that this segment will continue to
benefit the company and increase the total revenue generation in
fiscal 2013 and beyond.
The Roundup Ready business of the company is flourishing and
mid-teens sales growth in Monsanto's cotton platform this year is
also expected. Corn business in Latin America is thriving and
Monsanto is expanding in other regions like Brazil, North America
and Eastern Europe.
Monsanto is due to release its fiscal third quarter 2013
results on Jun 26, 2013, with a Zacks Consensus Estimate of $1.70
per share. The stock currently carries a Zacks Rank #2 (Buy).
Other stocks worth a look in the chemicals industry are
American Vanguard Corp.
OM Group Inc.
); each carrying a Zacks Rank #1 (Strong Buy), while,
) carries a Zacks Rank #2 (Buy).
AMER VANGUARD (AVD): Free Stock Analysis
FERRO CORP (FOE): Free Stock Analysis Report
MONSANTO CO-NEW (MON): Free Stock Analysis
OM GROUP INC (OMG): Free Stock Analysis
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