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Monsanto Tops Estimates on Record Seed Sales

9:14 AM MDT | July 6, 2012 | —Rebecca Coons

Record seed volumes and better-than-expected demand for crop protection products boosted Monsanto’s fiscal third-quarter earnings ahead of analysts’ estimates. The company reported net income of $937 million for the quarter ended May 31, up 35% from the year-ago period. Adjusted earnings of $1.63/share topped analysts’ estimates of $1.60/share, as reported by Thomson Reuters (New York). Monsanto had previously announced it expected earnings of $1.57-$1.62/share for the quarter. Sales increased 17%, to $611 million. “With our most significant selling...

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