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Markets :: Fine Chemicals/Biotech :: Seeds and traits
Monsanto Posts Profit Gains, Increases 2012 Outlook
8:57 AM MDT | April 4, 2012 | Rebecca Coons
Strong demand for genetically modified corn seeds in the U.S. and Latin American bolstered Monsanto’s second-quarter results, and the company lifted its full-year guidance on anticipated acreage gains for its newest generation of corn and soybean traits. The company posted net income of $1.2 billion for the quarter ended February 29, up 19% from the year-ago quarter. Earnings of $2.24/share beat analysts’ consensus of $2.12/share, as reported by Thomson Reuters (New York). Sales increased 15%, to $4.7 billion. "Our strong U.S...
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