Monsanto posted $4.1 billion in net sales for the second quarter of 2011, as compared to $3.9 billion in net sales in year ago results, an increase of 6 percent. These gains were driven primarily by increases in corn seed and traits sales as well as agricultural productivity. The former increased from $2.2 billion in the second quarter of 2010 to $2.4 billion in the second quarter of 2011; similarly, agricultural productivity increased from $642 million in the second quarter of 2010 to $708 million in the second quarter of 2011. Profits similarly increased by 10% in the second quarter of 2011 when compared to year ago results, totaling $2.3 billion for the quarter as compared to $2.1 billion last year. Net income attributable to Monsanto increased from $887 million in Q2 FY 2010 to $1.017 billion in Q2 FY 2011.
Monsanto posted gains across the board for the forth quarter of 2010; gains for the year, however, were mixed. Total net sales increased from $1.879 billion in the fourth quarter of 2009 to $1.953 billion in the fourth quarter of 2010. Total net sales for 2010, however, decreased from $11.7 billion to $10.5 billion. Gross profit for the fourth quarter increased to $861 million from $857 million the previous year. Gross profit for the year decreased from $6.8 billion to $5.1 billion. Operating expenses, however, decreased for both the quarter as well as the fiscal year. Q4 operating expenses decreased from $1.10 billion to $1.05 billion while annual operating expenses decreased to $3.47 billion from $3.66 billion.
"On September 2010, Monsanto reported net income of $2.41 per share, or $1.1 billion total, surpassing the consensus estimation of $2.01 per share by 20%, and decreasing from last year's earnings of $4.41 per share by 83%."
Monsanto posted losses across the board for the second quarter of 2010 as compared to the previous quarter. Total net sales dropped by 4% from $4.035 billion in Q1 FY2010 to $3.890 billion in Q2 FY2010. Gross profit fell from $2.521 billion to $2,099 billion, a 17% drop from the first quarter to the second quarter. Net Income also dropped from $1.092 billion in Q1 FY2010 to $887 million in Q2 FY2010, a 16% decrease over the course of the quarter.
Monsanto posted net sales of $1.7 billion for the quarter, marking a 36% decline from the same quarter the previous year. Gross profit fell by 52% to $739 million in the first quarter of the 2010 fiscal year, from $1.6 billion the same quarter in 2009. Gross margin also fell by 15 points to 44% in Q1 FY2010, as compared to 59% in Q1 FY2009.
Agriculture-related stocks are outperforming the overall markets this afternoon, warranting a shout out from Jim Cramer on Nov 17's "Mad Money". Industry growth is at 1.3%
Sales during its Q4 rose 35% from a year earlier. Furthermore, the company stated that it believes its gross profit will reach between $9.5 and $9.75 billion by 2012, up from its prior estimate of $8.6 to $9.1 billion.
Monsanto raised its earnings outlook for 2007 on strong demand for its corn seed. The company also announced a partnership with Dow Chemical to produce "eight stack" corn - meaning eight different genes conferring resistance to pesticides and other advantages in one seed - will be available by the end of the decade. This means Monsanto, the first company to offer "triple stack" corn, is pulling farther ahead of competitor Dupont
The company said June 15 that it expected 2007 earnings would be $1.75-$1.80 per share, compared with the previous estimate of $1.60-$1.65 per share. The use of corn to produce ethanol, which is used as a biofuel, has led to skyrocketing corn prices, record levels of corn planting, and therefore increased demand for monsanto's genetically engineered corn seed.
Monsanto receives an injunction from a Missouri federal judge to stop sales of its Roundup-Ready alfalfa seeds. With no lifting of the injunction possible until further hearings scheduled for April, Monsanto's foundational Roundup-Ready line seems threatened.
Monsanto announces that it will acquire Delta and Pine Land Company. This substantially increases Monsanto's market share in the cotton seed industry.