Markets :: Fine Chemicals/Biotech :: Seeds and traits
Monsanto tops estimates on strong soybean and glyphosate results
10:51 AM MST | January 8, 2014 | Rebecca Coons
Strong soybean and glyphosate sales helped Monsanto offset lower corn results and exceed analysts’ estimates for its fiscal first quarter. The company reports net income of $373 million for the quarter ended 30 November 2013, 6.9% higher year-on-year (YOY). Adjusted earnings increased 8.1%, to 67 cts/share, topping a 64 cts/share consensus estimate compiled by Thomson Reuters (New York). Gross profit increased 11.9%, to $1.6 billion. Net sales increased 7.0%, to $3.1 billion. The seeds and genomics segment gross profit slipped 2.0% YOY, however, to...
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