Monsanto Tops Estimates on Record Seed Sales

Record seed volumes and better-than-expected demand for crop protection products boosted Monsanto’s third quarter earnings ahead of analysts’ estimates and its own guidance. The company reported net income of $937 million for the quarter ended May 31, 2012, up 35% from the year-ago period. Adjusted earnings of $1.63/share topped analysts’ estimates of $1.60/share, as reported by Thomson Reuters (New York). Monsanto had previously announced it expected earnings of $1.57-$1.62/share for the quarter. Sales increased 17%, to $611 million. "With...

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