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Monsanto Posts Strong First Quarter; Increases Outlook

11:28 AM MST | January 4, 2008 | Michelle Bryner

Monsanto reported net income for the first quarter, ended November 30, 2007, of $256 million (46 cts/share), nearly triple the company's net income of $90 million for the year-ago period, and beating the consensus of analysts’ estimates as reported by First Call (Boston) of 35 cts/share. Sales increased 36%, to $2.1 billion. Key drivers include increased sales of Roundup herbicides in Argentina, Brazil, and Europe, as well as stronger adoption of the company's seed and trait technologies in Argentina and Brazil, Monsanto says. Monsanto’s stock price...

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