Markets :: Fine Chemicals/Biotech :: Seeds and traits
Monsanto’s Profits Surge on Strong Seeds and Traits
9:19 AM MDT | April 8, 2008 | Michelle Bryner
Monsanto reported net income for the second quarter of $1.13 billion ($2.02/share), more than double the company’s net income of $543 million in the year-ago period. Sales increased 45%, to $3.8 billion. The company cites increased corn seed revenues, as well as higher sales of Roundup and other glyphosate herbicides. Excluding the impact of Solutia’s emergence from bankruptcy, Monsanto reported earnings per share of $1.79/share, exceeding the company’s guidance of $1.75/share and ahead of analysts’ consensus estimate as reported by First...
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