Monsanto Increases Net 22%, Raises Guidance
Monsanto results for its Q2 2013 have been released. For the quarter, net sales were $5.5 billion, a 15% increase from the $4.7 billion in the same period the previous year. Net income recorded a more significant rise, climbing by 22% to $1.5 billion ($2.74 per diluted share) from Q2 2012's $1.2 billion ($2.24).
The numbers from the most recent quarter handily beat analyst estimates, which on average were for revenue of $5.3 billion and EPS of $2.58.
For the second quarter in a row, Monsanto lifted its full-year guidance. The company now believes it will post EPS of $4.40-$4.50 for fiscal 2013. It projects free cash flow to come in at $1.8 billion-$2.0 billion.
The article Monsanto Increases Net 22%, Raises Guidance originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Monsanto, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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