Revenue during the quarter grew 11.96 percent to $5,074 million from $4,532 million in the previous year period. Gross margin for the quarter expanded 85 basis points over the previous year period to 58.18 percent. Total expenses were 63.26 percent of quarterly revenues, down from 63.31 percent for the same period last year. This has led to an improvement of 4 basis points in operating margin to 36.74 percent.

Operating income for the quarter was $1,864 million, compared with $1,663 million in the previous year period.

"We are delighted to have delivered such an excellent first half and strong second quarter, in the face of what is still a tough macro economy for agriculture," said Hugh Grant, Monsanto chairman and chief executive officer. "While we're increasing confidence in the outlook for the rest of the year, our emphasis at Monsanto is where it has always been on bringing innovation to growers. Our proven innovation and unique platform advantages position us well to meet the challenges ahead, as well as make us an attractive, complementary partner for Bayer."

For fiscal year 2017, Monsanto Company expects diluted earnings per share to be in the range of $3.95 to $4.44. It expects diluted earnings per share to be in the range of $4.50 to $4.90 on adjusted basis for the same period.

The company has spent $438 million cash to meet investing activities during the first six months as against cash outgo of $483 million in the last year period.

The company has spent $494 million cash to carry out financing activities during the first six months as against cash outgo of $3,502 million in the last year period.

Cash and cash equivalents stood at $2,281 million as on Feb. 28, 2017, up 117.24 percent or $1,231 million from $1,050 million on Feb. 29, 2016.

Working capital increases marginally
Monsanto Company has recorded an increase in the working capital over the last year. It stood at $2,593 million as at Feb. 28, 2017, up 1.93 percent or $49 million from $2,544 million on Feb. 29, 2016. Current ratio was at 1.36 as on Feb. 28, 2017, down from 1.43 on Feb. 29, 2016.

Cash conversion cycle (CCC) has decreased to 100 days for the quarter from 201 days for the last year period. Days sales outstanding were almost stable at 57 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 77 days for the quarter compared with 178 days for the previous year period. At the same time, days payable outstanding was almost stable at 34 days for the quarter, when compared with the previous year period.