Upcoming AWS Coverage on E.I. du Pont de Nemours

LONDON, UK / ACCESSWIRE / April 13, 2017 / Active Wall St. announces its post-earnings coverage on Monsanto Co. (NYSE: MON). The Company released its financial results for the second quarter fiscal 2017 (Q2 FY17) on April 05, 2017. The St. Louis, Missouri-based Company recorded more than 28% y-o-y growth in its diluted EPS from ongoing business, outperforming market consensus estimates. Register with us now for your free membership at:

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One of Monsanto's competitors within the Agricultural Chemicals space, E.I. du Pont de Nemours and Co. (NYSE: DD), is expected to report its fiscal quarter ending March 2017 earnings results on April 25, 2017 before market open. AWS will be initiating a research report on E.I. du Pont de Nemours following the release of its next earnings results.

Today, AWS is promoting its earnings coverage on MON; touching on DD. Get our free coverage by signing up to:

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Earnings Reviewed

Monsanto reported total net sales of $5.07 billion in Q2 FY17, which came in above $4.53 billion in the prior year's comparable quarter. Furthermore, total net sales for the reported quarter beat market expectations of $4.82 billion.

The agricultural biotechnology Company's net income attributable to Monsanto increased during the reported quarter to $1.37 billion, or $3.09 per diluted share, from $1.06 billion, or $2.41 per diluted share in the same period last year. Meanwhile, the Company's ongoing net income attributable to Monsanto was $1.41 billion, or $3.19 per diluted share, in Q2 FY17 versus $1.07 billion, or $2.42 per diluted share, in Q2 FY16. Wall Street has expected the Company to report net income on ongoing basis of $2.76 per share.

For the six months ended February 28, 2017, the Company reported record total net sales of $7.72 billion compared to $6.75 billion in the prior year's same period. The Company's first half FY17's net income attributable to Monsanto came in at $1.40 billion, or $3.16 per diluted share, versus $810 million, or $1.80 per diluted share, recorded in the first half of FY16. Furthermore, the Company's net income attributable to Monsanto on ongoing basis for H1 FY17 was $1.50 billion, or $3.39 per share, compared to $1.02 billion, or $2.25 per share in H1 FY16.

Operating Metrics

The multinational agrochemical producer's quarterly gross profit grew to $2.95 billion in Q2 FY17 from $2.60 billion in Q2 FY16. The Company's gross margin also improved to 58% of total net sales in Q2 FY17, from 57% in the year-ago quarter. Meanwhile, the Company's gross profit on an on-going basis for the reported quarter came in at $2.96 billion. In Q2 FY17, the Company's operating expenses were $1.09 billion, compared to $935 million in the previous year period.

Segment-wise

In Q2 FY17, the Company's total Seeds and Genomics' net sales rose to $4.19 billion from $3.82 billion in Q2 FY16. The segment's gross profit also increased to $2.78 billion in Q2 FY17, from $2.43 billion in Q2 FY16. Additionally, the segment' EBIT for Q2 FY17 was $1.84 billion compared to $1.50 billion in Q2 FY16.

The Company's Agricultural Productivity segment's net sales grew during Q2 FY17 to $888 million from $715 million in Q2 FY16. The segment's gross for Q2 FY17 came in at $175 million, rising marginally from $170 million in Q2 FY16. Furthermore, the segment's EBIT surged to $119 million in Q2 FY17 from $7 million in the last year's comparable period.

Cash Matters & Balance Sheet

In the first six months of FY17, the Company's cash flow from operations was $1.54 billion compared to $1.39 billion in the previous year's comparable period. Additionally, free cash flow during H1 FY17 was $ 994 million compared to $ 900 million in H1 FY16.

The Company had cash and cash equivalents worth $2.28 billion as on February 28, 2017, versus $1.68 billion as on August 31, 2016. Furthermore, the Company ended the quarter with long-term debt of $7.56 billion compared to $7.45 billion as on August 31, 2016.

Dividend

In a separate press release on January 27, 2017, the Company's Board of Directors announced quarterly dividend of $0.54 cents per share. The dividend is payable on April 28, 2017, to shareowners of record on April 07, 2017.

Guidance

In its outlook for full year 2017, Monsanto now expects EPS guidance to be at the high-end of the range of $3.95 to $4.44. On an ongoing basis, FY17's EPS is also anticipated to be at the high-end of the range of $4.50 to $4.90. Furthermore, the Company now forecasts free cash flow during FY17 to be at the high-end of the range of $1.20 billion to $1.60 billion.

Stock Performance

Monsanto's share price finished yesterday's trading session at $116.27, slightly up 0.23%. A total volume of 1.74 million shares exchanged hands. The stock has surged 13.64% and 32.25% in the six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 11.61%. The stock is trading at a PE ratio of 26.93 and has a dividend yield of 1.86%.

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SOURCE: Active Wall Street