Monsanto reiterates 2016 EPS forecasts
Monsanto reiterated its forecast for profits in fiscal year 2016, adding that it expected them to start growing again in the following year.
Monsanto Co.
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16:05 15/10/24
On an on-going basis, earnings per share would come in at the low end of its guidance range for fiscal year 2016 of between $4.40 to $5.10, the company said in a statement.
EPS would begin to grow again the following year, St.Louis-based Monsanto said, and then accelerate at a compound rate in the mid-teens from the end of fiscal year 2017 through fiscal year 2021.
Its core pipeline was also expected to deliver as much as $25bn in net sales at its peak, "with incremental value from new platforms and expected to deliver the fourth consecutive year of more than 20 advancements."
As of 17:04 BST shares in the maker of genetically-modified seeds herbicides were lower by 1.54% to $103.89.