Challenging Climatic Conditions Crimps Fiscal 2018 Guidance for Nufarm
Our AUD 7.00 per share fair value estimate for no-moat Nufarm stands. That’s despite the crop protection company downgrading fiscal 2018 EBIT guidance to approximately AUD 317 million from AUD 317-333 million prior. The downgrade is due to cyclical (weather) issues and we don’t see this structurally impacting the business going forward. We downgrade to the sharpened AUD 317 million EBIT target on a like-for-like basis, though our number prints as AUD 303 million assuming AUD 14 million in foreig...Nufarm operates in two segment: crop protection and seed technologies. Co.'s crop protection segment is engaged in the manufacture and sale of crop protection products used by farmers to protect crops from damage caused by weeds, pests and disease and is managed by several geographic segments, being Australia and New Zealand, Asia, Europe, North America and Latin America. Co.'s seed technologies segment is engaged in the sale of seeds and seed treatment products and is managed on a worldwide basis.
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