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Monsanto Reports Record End to Fiscal Year
USAgNet - 10/05/2017

Monsanto Company announced it concluded fiscal year 2017 with as-reported earnings per share of $5.09, as compared to last year's as-reported full-year EPS of $2.99, adding that EPS is expected to grow in the first quarter of fiscal 2018. Reflecting the value its innovation brings, the company delivered exceptionally on its operational plan, while continuing to progress on the closing of the merger with Bayer as it looks forward to the opportunity to create even greater benefits for growers with the companies' combined pipelines.

"Our record sales and gross profit in the Seeds and Genomics segment this year, fueled by the outstanding penetration of our latest soybean and cotton technologies and continued adoption of our newest corn hybrids around the world, reflects the need for new solutions in what continues to be a challenging ag economy," said Hugh Grant, chairman and chief executive officer for Monsanto. "Our proven ability to innovate and our unique platform advantages position us well to meet the production challenges of today, as well as the demands of tomorrow."

Monsanto reported net sales of $2.7 billion for the fourth quarter of fiscal year 2017. Net sales for the full fiscal year were $14.6 billion. Full-year net sales were up more than $1 billion year-over-year, due primarily to record technology adoption for the newest soybean technologies across the Americas and global corn pricing.

Seeds and Genomics segment net sales were $1.7 billion for the quarter. For the full year, net sales for the Seeds and Genomics segment were $10.9 billion. Agricultural Productivity segment net sales were $939 million for the quarter, while net sales for the Agricultural Productivity segment for the fiscal year were $3.7 billion.

The company's total operating expenses were up slightly year-over-year on an as-reported basis, at $4.7 billion. Selling, General & Administrative expenses increased to $3.0 billion for the year, primarily from increased incentives and commissions, with the return to growth of the business. R&D expenses increased due to incentives and increased investment in digital tools for agriculture.

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