Monsanto Cuts FY16 EPS View; Backs FY16 Ongoing EPS Outlook - Quick Facts

(RTTNews) - Monsanto Co. (MON) said that it cut its fiscal year 2016 reported earnings per share outlook to reflect additional estimated restructuring charges. But, it continues to expect to achieve ongoing earnings per share of $5.10 to $5.60 in fiscal year 2016. Analysts polled by Thomson Reuters expect the company to report earnings of $5.34 per share for fiscal year 2016. Analysts' estimates typically exclude special items.

The 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 by the end of fiscal year 2018.

The company now expects earnings per share on an as-reported basis to be $4.00 to $4.66 in fiscal year 2016, compared to prior outlook of reported earnings of $4.44 - $5.01 per share.

The company's Kerry Preete, executive vice president of global strategy, will address investors in Boston today at the Morgan Stanley Global Chemicals & Agriculture Conference. Preete will discuss product performance, the company's strategic initiatives, long-term growth drivers and future expectations, and other matters related to the company's business. Preete's session will begin at 10:15 a.m. ET.

The company also continues to project free cash flow in the range of $1.6 billion to $1.8 billion for fiscal year 2016. The company expects net cash provided by operating activities to be $2.7 billion to $3.1 billion, and net cash required by investing activities to be approximately $1.1 billion to $1.3 billion.