Speaking to investors at the Sanford Bernstein Strategic Decisions Conference in New York, Monsanto's Chairman, President and Chief Executive Officer Hugh Grant said he expects year-over-year ongoing earnings to grow up to 25 percent in fiscal year 2012, ahead of continued strong growth in fiscal year 2013.

31 May 2012 --- With seed selling seasons for North and South America now complete, Monsanto Company cited continued strong third-quarter sales as the company again increased fiscal-year 2012 earnings guidance.

Speaking to investors at the Sanford Bernstein Strategic Decisions Conference in New York, Monsanto's Chairman, President and Chief Executive Officer Hugh Grant said he expects year-over-year ongoing earnings to grow up to 25 percent in fiscal year 2012, ahead of continued strong growth in fiscal year 2013.

The company expects net cash provided by operating activities to be $2.6 billion to $2.8 billion, and net cash required by investing activities to be $900 million to $1 billion for fiscal year 2012.

Grant also indicated Monsanto expects continued growth in 2013 after greater than 20 percent ongoing earnings growth achieved in 2011 and expected for 2012, with mid-teens ongoing earnings growth for fiscal year 2013 projected from the higher base of $3.65 to $3.70 announced today.

"With continued strong sales in the third quarter, the performance we saw in the early part of the year has proven to be a powerful signal of even better results from some key businesses," Grant said. "Now that we have a more complete view on the greater planted acres from the United States and Europe, it is clear our performance reflects an even greater component of business strength and momentum versus timing of a historically early selling and planting season."

The culmination of strong selling seasons in both the Southern and Northern hemispheres highlighted the continued business performance and upside from key areas in the company's seed-and-traits business, complemented by better-than-expected sales across Monsanto's chemistry portfolio including its Roundup, selective herbicides and lawn-and-garden businesses.

In South America, the end of the second season in Brazil continued the performance trend in Monsanto's corn business with total acres and overall sales higher than anticipated.  In the Northern hemisphere, the expanded acres and growth in Monsanto's core business in Eastern Europe helped drive better-than-expected performance.

In the key U.S. market, the larger total acres planted of both corn and soybeans drove strength that continued from the early spring throughout the planting season.  For example, Grant indicated that as part of the strong U.S. season, Monsanto now projects 2012 acres of its Genuity reduced-refuge corn family to exceed the company's initial target acreage range and Genuity Roundup Ready 2 Yield soybeans to achieve the high end of its expected range.

"This year has been important confirmation of the momentum in our business, as we've taken advantage of the strong global acres and agricultural environment and delivered on the key business drivers we set as priorities," said Grant.  In the core U.S. business, Grant said positive customer response to Monsanto's expanded product-pricing strategy is apparent in the step up of its core platforms and overall performance, which is complemented by international growth coming from the company's global businesses.

"Looking beyond this year, we feel very good that the fundamentals driving 2012 carry into next year as well, and we have the strategic growth drivers in place to support continued growth in 2013," Grant said.