Before Wednesday’s opening bell, Monsanto Company (MON ) reported lower results for the second quarter and missed analysts’ estimates.
MON's Earnings in Brief
- The company reported earnings of $1.425 billion, or $2.92 per share, down from $1.670 billion, or $3.15 per share, last year. Analysts expected to see slightly higher EPS of $2.93.
- Revenue declined to $5.197 billion from $5.832 billion. Analysts expected to see much higher revenue of $5.58 billion.
- Looking ahead, the company expects FY2015 EPS to be between $5.75 and $6.00.
“The key milestones we achieved in the first half of fiscal year 2015 are a cornerstone to the long-term growth drivers needed to propel us to our target to more than double ongoing earnings per share by 2019,” said Hugh Grant, chairman and chief executive officer for Monsanto. “As we move into the second half of the year, we remain focused on our long-term growth drivers, with disciplined near-term execution and focus on our customers.”
MON will pay its next dividend on April 24. The stock went ex-dividend on March 31. We expect the company to declare its next dividend in June.
Shares of MON were down 28 cents, or 0.25% during premarket trading Wednesday. The stock is down 5.8% YTD.