Monsanto Profits Surge

ST. LOUIS (AP) — Monsanto says its fiscal first-quarter earnings soared on strength of its seed business. The company also brightened its outlook for the full fiscal year.

Its shares rose 3.4 percent to $75.13 21 in morning trading.

Monsanto Co. said Thursday its net income rose to $126 million, or 23 cents per share, for the three months ended Nov. 30. That’s up from $9 million, or 2 cents per share, a year earlier.

Revenue rose to $2.44 billion from $1.84 billion a year earlier.

FactSet says analysts expected earnings of 16 cents per share on revenue of $2.05 billion.

For all of fiscal 2012, the St. Louis company expects earnings per share of between $3.39 and $3.44, which is at the high end of its previous expectation of a growth percentage in the “mid-teens.” Analysts expect earnings of $3.47 per share.

(© Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


More From CBS St. Louis

KMOX Podcasts
As Heard On KMOX

Listen Live