The Rising Influence of Rising Affluence

[DewDiligence]

MON provided rough EPS guidance for FY2014 (ending 8/31/14) when it released FY3Q13 results last week:

http://monsanto.mediaroom.com/2013-06-26-With-Third-Quarter-Results-Monsanto-Reaffirms-Ongoing-Earnings-Outlook-Of-Greater-Than-20-Percent-Growth-In-Fiscal-Year-2013-And-Mid-Teens-Growth-For-Fiscal-Year-2014

The company reaffirmed 2013 earnings per share guidance in the range of $4.50 to $4.55 on an ongoing [i.e. non-GAAP] basis, with mid-teens ongoing earnings growth anticipated for fiscal year 2014.

This is the first time MON has ever given EPS guidance for a non-current fiscal year, which is a bullish sign, IMO. Applying a 15% increase to the $4.50-4.55 EPS range for FY2013, the guidance for FY2014 is about $5.20. At the current share price, the P/E based on FY2014 EPS is thus about 19x.