Monsanto Beats on Earnings, Disappoints on Sales

Monsanto (MON), the world's biggest seed company, reported third-quarter profit of 81 cents a share on an ongoing basis, 2 cents above analysts estimates of 79 cents, according to Bloomberg. Net income in the third quarter was $384 million, nearly half of last year's quarter net income of $694 million.

Net sales decreased 6% to $2.96 billion, and was below analyst estimates of $3.17 billion. Operating expenses were flat overall, with a slight decrease for selling, general and administrative (SG&A) expenses for the three month comparison.

Monsanto affirmed its cash flow and earnings guidance and provided preliminary financial guidance for fiscal year 2011. The company expects fiscal-year 2010 earnings per share to be in the range of $2.40 to $2.60 on an ongoing basis. Analysts estimates for fiscal year earnings are $2.51, according to flyonthewall.

Shares dropped 0.7% in premarket trading.
Read Full Story
  • DJI25502.32-460.18-1.77%
  • NIKKEI 22520977.11-650.23-3.01%
    Hang Seng28523.35-590.01-2.03%
  • USD (PER EUR)1.130.00190.17%
    USD (PER CHF)1.010.00050.05%
    JPY (PER USD)110.060.14900.14%
    GBP (PER USD)1.320.00230.17%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.