October 4, 2017 / 12:28 PM / a year ago

BRIEF-Monsanto reports Q4 sales $2.7 bln

Oct 4 (Reuters) - Monsanto Co

* Q4 sales $2.7 billion

* Q4 earnings per share $0.20 from continuing operations

* ‍For Q4, company reported $0.05 eps on an as-reported basis​

* Given pending combination with Bayer, company will not provide financial guidance for fiscal year 2018

* Qtrly total seeds and genomics sales $‍1,747​ million versus. $1,565 million

* Qtrly net sales ‍$ 2,686​ million versus $2,562 million last year

* ‍In fiscal year 2018, anticipates completing restructuring and cost savings initiative that began in fiscal year 2015​

* Q4 revenue view $2.53 billion — Thomson Reuters I/B/E/S

* For fiscal year 2018, anticipates lower planted corn acres in Brazil and challenging commodity pricing for corn around globe

* Sees ‍S,G&A and research and development expenses in fiscal year 2018 will be relatively flat year-over-year compared to 2017​

* On completion of cost saving initiative, expects to realize nearly $500 million in annual savings as compared to fiscal year 2015 baseline​

* ‍Ongoing EPS results for quarter were better than initially projected, mostly due to tax benefits​

* ‍Ongoing EPS results for quarter were also better than projected as co granted right to some key corn licenses in Brazil​

* ‍Granting right to some key corn licenses in Brazil resulted in a pre-tax benefit of more than $200 million in Q4 of 2017​

* In agricultural productivity, pricing for Glyphosate is expected to improve, at least through q1 of fiscal year

* Q4 included pretax charges of $22 million ($0.05 a share) for legacy litigation matters related to 2000 pharmacia separation agreement​

* Contributions from strategic portfolio management to likely fall below roughly $350 million average annual pre-tax contribution from last 3 years Source text for Eikon: Further company coverage:

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