Earnings Call Excerpt
Monsanto Company (MON)
Q2 2006 Earnings Conference Call
April 5th 2006, 9:00 AM
Executives:
Hugh Grant, Chairman and CEO
Terrell K. Crews, CFO
Carl M. Casale, Executive Vice President of North American Commercial Operation
Scarlett Lee Foster, Vice President of Investor Relations
Brian Hurley, Director, Investor Relations
Dennis Schemm, Director, Investor Relations
Analysts:
PJ Juvekar, Citigroup
Michael Judd, Greenwich Consultants,
Frank Mitsch, BB&T
Kevin Mccarthy, Banc of America Securities
Mark Gulley, Soleil Securities
William Young, Credit Suisse
Mary Connelly, Goldman Sachs
Don Carson, Merrill Lynch
David Silver, JP Morgan
Presentation
Operator
Ladies and gentlemen, thank you for standing by. Welcome to the Monsanto Company’s Second Quarter 2006 Earnings Conference Call.
Operator Instructions
As a reminder this conference is being recorded Wednesday, April 05, 2006. It is now my pleasure to turn the conference call over to Scarlett Foster, Vice President of Investor Relations.
Scarlett Foster, Vice President of Investor Relations
Thank you. Thanks Natalie, and good morning everyone. I’d like to welcome you to Monsanto’s second quarter earnings conference call. And I’m joined this morning by Hugh Grant, Monsanto’s Chairman and CEO; Terry Crews, our CFO; and also by Carl Casale, who is our Executive Vice President of North American Commercial Operation. Also joining me are Brian Hurley and Dennis Schemm, who are my colleagues in Investor Relations.
You may recall that in our first quarter earnings call we reviewed the status of our R&D pipeline. Carl joins us this morning to review our US operations as the second quarter is defined for our US Commercial performance. Before we begin, I’d like to remind you that we are webcasting this call, and you can access this at Monsanto’s website at: www.monsanto.com. The replay is also available at that address. For those of you who’d like to go to our website, we’ve also posted slides there that accompany this call, and you’ll find them posted on the Investor Information page of the website. We’ll reference each of these slides by page number, which you will find on the bottom right-hand side of each slide.
We are providing you with EPS measures both on a GAAP basis and on an ongoing business basis. In those cases where we refer to non-GAAP financial measures, we’ve provided you with a reconciliation to the GAAP measures on the last slide in this morning’s presentation and in this morning’s press release. I need to remind you that this call will include statements concerning future events and financial results because these statements are based on assumptions and factors that involve risks and uncertainties, the company’s actual performance and results may vary in a material way from those expressed or implied in any forward-looking statements. A description of the factors that may cause such a variance is included in the Safe Harbor language contained in our most recent 10-Q and today’s press release.
Question for Carl. Carl, reportedly Pioneer was offering ?buy one bag get one free
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