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Monsanto raises 2013 profit outlook

9:45 AM MDT | May 31, 2013 | —Rebecca Coons

Monsanto increased its full-year earnings outlook for its fiscal year ending 31 August, citing growth in corn seeds and better-than-expected market conditions for glyphosate. The company expects adjusted earnings in the range of $4.50–4.55/share for its fiscal year ending 31 August. The midpoint is 1.23% above previous guidance, announced 3 April, and 23% higher than year-ago fiscal-year adjusted earnings of $3.70/share—but falls 2.3% below a consensus of analysts’ estimates reported by Thomson Reuters (New York). “We’re in a growth...

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