Monsanto hit a double whammy on Wednesday, announcing its increased earnings and revenues in Q1, and revealing its 2014 “pipeline” products line.
With five products ready to go to market and 29 in the pipeline, Monsanto is promising innovation as the company profits and its stock climbs.
“As farmer needs evolve, so does our research and development pipeline,” says Monsanto’s site just above the graph of all 29 products. “Today, we are focused on delivering systems of products that work together to address the challenges farmers face and maximize their yield potential.”
Monsanto announced on Wednesday that it beat its earning and revenues in Q1, despite experiencing a drop in corn sales. Monsanto made up for the lost revenue through high herbicide sales, according to Reuters. Edward Jones analyst Matt Arnold told Reuters the profitability was well calculated:
“The ag productivity segment carried the day this quarter in terms of where most of the earnings growth came from,” said Jones to Reuters. “But the seed business did fine … They are intelligently focusing on where they can win.”
Nearly 30 of the company’s more than 70 pipeline projects advanced phases this year.If Monsanto’s 2014 pipeline success is anything like it’s Q1 earnings, they’ll be in good shape. A business wire in the Wall Street Journal pinpoints the “Pipeline Highlights” of Monsanto’s announcement:
- A record five products graduated from the pipeline, including Intacta RR2 PRO(TM) soybeans, FieldScripts(R) variable rate seeding in corn and Root-Knot Nematode Resistance within the cotton-breeding pipeline.
- Some of the most breakthrough progress was delivered from the company’s newest technology platforms, including more than 10 advancements across its Integrated Farming Systems(R) and agricultural biologicals platforms.
- In addition to the 29 project advancements, Monsanto will have three projects in its Ground Breakers(R) on-farm testing program this year. Projects include Vistive(R) Gold soybeans, Roundup Ready 2 Xtend(TM) soybeans and Bollgard(R) II XtendFlex(TM) cotton.
Monsanto’s proposed products are covering a lot of ground. In the bioscience realm, there are new pesticides and herbicides, disease-resistant corn, pepper and tomato strains, and research on how to improve crop productivity. On the tech side, there are field scripts designed to help farmers integrate seed science, field science, data analysis and precision equipment. There even is a web and mobile application, The Climate Corporation’s Climate Pro, designed to help farmers collect and parse data.
Despite CEO Hugh Grant anticipating a “volatile” year ahead, Monsanto forges ahead, hoping this year’s pipeline will prove as profitable as the last.