Edited Transcript of Monsanto Company Q4 2014 Earnings Conference Call…
Company: Monsanto Company (MON)
Event Name: Q4 2014 Results Earnings Conference Call
Date: October 8, 2014 09:30 AM ET
Operator: Greetings and welcome to the fourth quarter 2014 Monsanto Company earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Bryan Hurley, Investor Relations Lead for Monsanto. Thank you, you may begin.
Bryan Hurley – IR
Thank you, Jessie, and good morning to everyone. Thanks for joining our fourth quarter earnings update. I am joined this morning by Hugh Grant, our Chairman and CEO; Brett Begemann, our President and Chief Operating Officer as well as Pierre Courduroux, our CFO. Also joining me from the IR team are Ashley Wissmann, Tim Boeker, and Laura Meyer.
This call is being webcast and you can access the webcast, supporting slides and the replay at monsanto.com. We have provided you today with EPS measures both on a GAAP and on an ongoing business basis where we refer to non-GAAP financial measures, we reconcile to the GAAP in the slides and in the press release, both of which are on our website.
This call will include statements concerning future events and financial results. Because these statements are based on assumptions and factors that involve risk and uncertainty, the company’s actual performance and results may vary in a material way from those expressed or implied in any forward-looking statement. A description of the factors that may cause such a variance is included in the Safe Harbor language in our most recent period report of the SEC and in today’s press release.
This morning, our focus is on the outlook for our next fiscal year where we expect to deliver continuing strong growth. While today’s call will focus on that outlook, let me set up the conversation with the couple of key points from our fiscal year ‘14 results on Slide 4.
With year-end ongoing EPS of $5.23 and free cash flow of $959 million, our final results came in ahead of our updated guidance. Just as importantly, we said a priority in 2014 was to demonstrate Seeds and Genomics would return as the biggest driver of our growth, and with the final results, Seeds and Genomics delivered the majority of our gross profit growth, creating the right momentum as we think about what matters in 2015.