Monsanto says prior efforts on pricing paying off |
| MarketWatch - Apr 4, 2012 |
An unusually mild winter and early spring have changed the "seasonality" of Monsanto Co.'s /quotes/zigman/267799/quotes/nls/mon MON -1.49% earnings growth, the company's chief financial officer said Wednesday.
The warm weather allowed the seed producer to ship seed from its warehouses earlier than usual, CFO Pierre Courduroux said in a conference call following second-quarter earnings. While the company raised its full-year earnings guidance to $3.49 to $3.54 a share, up 10 cents, Courduroux said the first half of the fiscal year has captured the bulk of the company's earnings growth, and that earnings in the second half would likely be flat versus a year ago.
He added that an expected increase in U.S. planted acreage this season was a "tailwind" for the company in the fiscal second quarter. Farmers are expected to plant more corn acreage than at any time since 1937 because of high prices.
The company reported second-quarter earnings were up 19% from a year ago. Monsanto shares were recently down 0.6% to $81.28 a share.
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- Posted: 2012-04-04 12:38:25
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