The Monsanto Company has released information on fiscal year 2016, showing that the company delivered above the most recent earnings-per-share guidance for the year.
The earnings per share (EPS) is on track to grow in the upcoming fiscal year 2017 as a result of strong penetration of key soybean traits, global corn germplasm improvements and spending discipline.
“Despite challenges to our business in fiscal year 2016, we delivered on the drivers that position Monsanto for the return to EPS growth in the year ahead,” Hugh Grant, Monsanto’s chairman and CEO, said. “To see it through, our fiscal year 2017 priorities are focused on delivering on the operational plan and key business milestones for the year, while also executing on the necessary steps to close the deal with Bayer. Ultimately, we believe that combining with Bayer represents the most compelling value for our share-owners, with the most certainty through the all-cash consideration.”
In the fourth quarter of fiscal year 2016, Monsanto reported net sales to be at $2.6 billion, bringing the total net sales for fiscal year 2016 to $13.5 billion. The full-year net sales were down, primarily due to currency headwinds and price declines in agriculture.
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