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Chemical Week Magazine :: Top of the Week
Earnings Mixed at AgChem firms
2:24 PM MST | January 13, 2009 | REBECCA COONS
Mosaic and Monsanto beat analysts’ expectations for the quarter ended November 30, 2008, as each firms’ earnings more than doubled from the same year-ago quarter. However, falling demand and steep production cuts cast a shadow over Mosaic’s quarter. Monsanto reported fiscal first-quarter earnings up 117% from the year-ago period, to $556 million ($1.00/share). Analysts’ earnings estimates as reported by First Call (Boston) were 59 cts/share. The company cited strong herbicide demand in Brazil, higher corn seed and trait sales in...
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