Monsanto Beats on Earnings, Disappoints on Sales

Before you go, we thought you'd like these...
Before you go close icon
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

Markets

S&P 500 2,271.31 7.62 0.34%
DJIA 19,827.25 94.85 0.48%
NASDAQ 5,555.33 15.25 0.28%
DAX 11,630.13 33.24 0.29%
HANG SENG 22,885.91 -164.05 -0.71%
NIKKEI 225 19,137.91 65.66 0.34%
USD (per EUR) 1.07 0.00 0.31%
USD (per CHF) 1.00 0.00 0.01%
JPY (per USD) 114.52 -0.45 -0.39%
GBP (per USD) 1.24 0.00 0.24%

From Our Partners