Monsanto Reports Earnings Just About In-Line, Affirms Guidan

April 06, 2011

Monsanto (NYSE:MON) reported Q2 EPS of $1.88 this morning, vs. the consensus estimate for $1.85 per share. Revenues for the quarter were up 6.1% year-over-year to $4.13 billion, vs. the consensus estimate for $4.15 billion.The company confirmed full year 2011 EPS guidance in the range of $2.72 to $2.82, vs. the consensus estimate for $2.86 per share.Hugh Grant, chairman, president and CEO for Monsanto said, "We came into this year with an operational plan built around creating value for our customers. It was a plan that was designed for balanced growth - across crops, across geographies and through a combination of mix and volume improvements. We exist to serve our farmer customers, and it is rewarding to see this plan is resonating with them. Given the tempo of the year, we are where we should be, and we have the right pieces and the right execution to feel very good that mid-teens earnings growth in 2011 is on track."Monsanto has a potential upside of 3.6% based on a current price of $73.6 and an average consensus analyst price target of $76.24.