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Monsanto profits slip 3%, confirms 2013 guidance

9:08 AM MDT | June 26, 2013 | Rebecca Coons

Monsanto has reaffirmed its expectation that 2013 fiscal-year earnings will increase more than 20% year-on-year (YOY), after reporting third-quarter earnings ahead of analysts’ estimates but down slightly from the year-ago quarter. Net income slipped 3%, to $909 million, reflecting the decreased YOY contribution from the Brazil soybean business—excluded from results because of an ongoing dispute over Monsanto’s royalty-collection system—as well as a decrease in overall planted cotton acres and the continued effect of higher production...

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