The Rising Influence of Rising Affluence

[DewDiligence]

MON lowers FY2016 GAAP guidance due to additional restructuring (non-GAAP guidance is unchanged):

http://finance.yahoo.com/news/monsanto-executive-addresses-investors-morgan-123000061.html

Monsanto continues to expect to achieve ongoing [non-GAAP] EPS of $5.10 to $5.60 in fiscal year 2016, with EPS on an as-reported basis [GAAP] updated to reflect additional estimated restructuring charges.

These additional estimated charges are early estimates for the cost of the supplemental phase of restructuring actions, which, in combination with cost savings initiatives, is now expected to generate up to $200 million of savings, bringing the total estimated savings to $500 million [per annum] by the end of fiscal year 2018. The company now expects EPS on an as-reported basis [GAAP] to be $4.00 to $4.66 in fiscal year 2016.

The old range for FY2016 GAAP EPS was $4.44-$5.01.

Note: This PR was issued yesterday before the open, and MON declined 1.5% yesterday. (The stock rose 0.7% today.)