Monsanto expects full year earnings at lower end of guidance ranges

31 August 2010 14:42  [Source: ICIS news]

LONDON (ICIS)--Monsanto expects full fiscal earnings to come in at the lower end of its previous guidance ranges for ongoing earnings per share (EPS) and free cash flow, the US-based agrobusiness company said on Tuesday.

Ongoing EPS for the fiscal year was expected to fall within the range of $2.40- 2.45 a share, at the low end of its previous $2.40 to $2.60 guidance range, said Monsanto. 

“This expectation reflects strong quarterly seed and trait sales in Latin America and other international markets, solid fourth-quarter performance of Monsanto's crop-protection business, and the realisation of discrete tax benefits,” the company said in a statement.  

Free cash flow was expected in the range of $400m-500m (€316m-395m)  for the fiscal year.

"With a solid wrap to the quarter, we'll turn the page and start a new chapter as our growth focus shifts squarely to our seeds-and-traits business," said chief financial officer Carl Casale.

Monsanto will publish its fourth-quarter and fiscal-year earnings on 6 October.

($1 = €0.79)

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By: Hilde Ovrebekk
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