IHS Chemical Week

Monsanto tops estimates, raises 2013 earnings outlook

12:01 PM MDT | April 3, 2013

Monsanto raised its 2013 earnings outlook as expanded corn acres in Brazil and increased sales of advanced corn seeds in the United States drove second-quarter results above analysts’ estimates. The company reported net income of $1.48 billion for its fiscal second quarter, ended 28 February, up 22% from the year-ago quarter. Adjusted earnings of $2.73/share beat a $2.58/share consensus of analysts’ estimates reported by Thomson Reuters (New York). Net sales increased 15%, to $5.5 billion, driven in part by a 16% increase in global corn sales, Monsanto says...

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