Replies to post #179771 on Biotech Values

[DewDiligence]

MON FY3Q14 items…

PR on quarterly results, 5-year guidance, and new $10B buyback:
http://finance.yahoo.com/news/building-expected-strong-fy14-monsanto-121900916.html

CC slides (22 pages):
http://www.monsanto.com/investors/Documents/2014/2014.06.25_MON_Q3F14_Earnings.pdf

PR on new debt offering (to partially fund the $10B share buyback):
http://finance.yahoo.com/news/monsanto-announces-intention-begin-debt-130000810.html

[jbog]

What was your impression of Monsanto's earning. Looked like the excitement to me was a simple distraction from the real earnings and sales.

[DewDiligence]

MON inks deal with JPM/GS for the first $6B of $11B share buyback:

http://finance.yahoo.com/news/monsanto-company-announces-6-billion-212900276.html

Monsanto Company announced that it has entered into accelerated share repurchase (ASR) agreements with JPMorgan Chase Bank, N.A. and Goldman, Sachs & Co. to repurchase an aggregate of $6 billion of the company’s common stock. Today’s ASR is part of Monsanto’s share repurchase programs under which an additional $10 billion of authority was recently announced on June 25, 2014.

Under the terms of the ASR agreements, Monsanto will repurchase $3 billion of its common stock from each of JPMorgan Chase Bank, N.A. and Goldman, Sachs & Co., with an aggregate initial delivery of approximately 38.6 million shares based on current market prices. The final number of shares to be repurchased will be based on Monsanto’s volume-weighted average stock price during the term of the transaction, less a discount.

The [ASR] program is expected to be completed in up to nine months.

Adding the $1B remaining on MON’s old buyback authorization brings MON’s total planned buybacks to $11B: the $6B, 9-month “ASR” described above and an additional $5B in due course.

The approximately 39M shares to be repurchased via the ASR during the next 9 months represent a little more than 7% of MON’s total shares outstanding.

[DewDiligence]

MON issues FY2015 non-GAAP EPS guidance of $5.75-6.00, +10-15% vs FY2014. This guidance is consistent with MON’s 5-year outlook mentioned in #msg-103710052.

Slide deck from today’s FY4Q14 CC:
http://www.monsanto.com/investors/Documents/2015/2014.10.08_MON-Q4FY14-Earnings.pdf

p.s. MON’s fiscal year ends Aug 31.