孟山都下调麦草畏标签延迟和草甘膦定价预测

孟山都公司下调了全年利润预期,理由是外币疲软、草甘膦仿制药定价和商品价格下跌导致种植者利润率下降,此外还推迟了 EPA 对麦草畏在作物中使用的标签。

孟山都将其全年正在进行的 EPS 指导修订为 $4.40 至 $5.10。根据报告的基础,全年 EPS 指导预计为 $3.42 至 $4.29。

对于第二季度,这转化为 $2.35 至 $2.45 的持续每股收益预期,与上一年相比预期下降主要是由于草甘膦价格下降和阿根廷比索贬值。根据报告的基础,第二季度每股收益指引预计为 $2.15 至 $2.35。

高级副总裁兼首席财务官 Pierre Courduroux 表示:“如今,事实证明宏观环境更具挑战性,但我们仍然看到了我们业务的强劲长期增长机会。”

货币占公司修订后的 2016 年持续每股收益展望减少的 25 至 30 美分,另外估计 30 美分来自其种子和基因组学业务,这是由于几个宏观因素造成的,包括 EPA 批准麦草畏的延迟用于 Roundup Ready Xtend 系统的作物内使用和高于预期的行业折扣。孟山都表示,公司支出前景和财务纪律的减少实际上抵消了由于通用定价而导致的农业生产力的一些放缓。

公司现在预计 2016 财年其核心种子和基因组学部门的毛利增长与上一年相对持平,并预计农业生产力部门的毛利将接近 $9 亿至 $1 范围的中点2016 财年的毛利润为 1 亿美元。为了抵消部分增加的逆风,公司预计 2016 财年的运营费用(不包括重组费用和遗留环境和诉讼和解)将比 2015 财年略有下降。这期望包括新平台支出,以支持这些机会的长期增长前景。

孟山都补充说,在 2016 年,该公司继续执行其核心业务中的关键举措,这些举措以引入新的全球玉米杂交种产品组合为主导,并继续大量采用 Intacta RR2 PRO 大豆,目前在南美洲的种植面积已达 3500 万英亩。

Moving beyond fiscal year 2016, Monsanto said its outlook is expected to improve anchored on the company’s expanding innovation growth drivers and R&D leadership advantage, financial discipline and balanced capital allocation. The company also expects significant benefits in fiscal year 2017 from improved comparisons from lower cost of goods and the absence of the significant Argentine peso devaluation. “These variables underpin its confidence in its long-term growth outlook and opportunity for a baseline mid-teens compounded annual growth rate in its ongoing EPS from the mid-point of its fiscal year 2016 outlook through fiscal year 2019.”

“It’s easy to focus on the current downturn in the agricultural cycle, but as the leader in the industry, we are in a unique position to take advantage of the inevitable rebound and accelerate the delivery of integrated solutions within the industry,” added Courduroux. “We have the leading trait and genetics platform, leading platform in data science and significant momentum from new product launches, all underpinned by actions to focus and reduce costs through financial discipline. We remain committed to the innovation-backed logic that fuels our strategic rationale for integrated solutions and expectation that we will remain the partner of choice in the industry.”