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Monsanto (MON) Misses Q2 Earnings and Revenue Estimates
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Monsanto Company has carved a name for itself in the global agricultural chemicals’ industry. The company tries to enhance the yield and quality of several commercial and non-commercial agricultural crops such as cotton, soybean and corn.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MON reported adjusted earnings of $3.22 per share in second-quarter fiscal 2018 (on an ongoing basis), lower than the Zacks Consensus Estimate of $3.38 cents per share.
Revenue: MON posted revenues of $5,019 million in second-quarter fiscal 2018, lower than the Zacks Consensus Estimate of $5,489 million.
Key Factors: MON perceives that improved glyphosate pricing and stronger demand for innovative crop yield enhancing solutions such as Intacta RR2 PRO soybeans will boost near-term results.
MON anticipates to successfully close Bayer AG’s (BAYRY - Free Report) buyout deal by the end second calendar quarter of 2018.
Stock Price: At the time of writing, the stock price of MON was down nearly 0.96% ($1.12) in the pre-market trade on Nasdaq. Clearly the initial reaction to the release is negative. We perceive that the company’s weaker-than-expected earnings result has primarily driven the negative sentiment.
As of Apr 5, 2018, MON’s stock closed the trading session at $116.75 per share.
Check back our full write up on this MON earnings report later!
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Monsanto (MON) Misses Q2 Earnings and Revenue Estimates
Monsanto Company has carved a name for itself in the global agricultural chemicals’ industry. The company tries to enhance the yield and quality of several commercial and non-commercial agricultural crops such as cotton, soybean and corn.
Currently, MON has a Zacks Rank 3 (Hold), but that could definitely change after the release of its second-quarter fiscal 2018 (ended February 2018) results. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
We have highlighted some of the key stats from this just-revealed announcement below:
Earnings: MON reported adjusted earnings of $3.22 per share in second-quarter fiscal 2018 (on an ongoing basis), lower than the Zacks Consensus Estimate of $3.38 cents per share.
Revenue: MON posted revenues of $5,019 million in second-quarter fiscal 2018, lower than the Zacks Consensus Estimate of $5,489 million.
Key Factors: MON perceives that improved glyphosate pricing and stronger demand for innovative crop yield enhancing solutions such as Intacta RR2 PRO soybeans will boost near-term results.
MON anticipates to successfully close Bayer AG’s (BAYRY - Free Report) buyout deal by the end second calendar quarter of 2018.
Stock Price: At the time of writing, the stock price of MON was down nearly 0.96% ($1.12) in the pre-market trade on Nasdaq. Clearly the initial reaction to the release is negative. We perceive that the company’s weaker-than-expected earnings result has primarily driven the negative sentiment.
As of Apr 5, 2018, MON’s stock closed the trading session at $116.75 per share.
Monsanto Company Price
Monsanto Company Price | Monsanto Company Quote
Check back our full write up on this MON earnings report later!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>