Monsanto Raises Outlook On Strong Demand for Seeds |
| Wall Street Journal - Mar 25, 2008 |
Monsanto Co. boosted its fiscal 2008 earnings guidance for the third time in as many months, citing seed sales and gains made by its herbicide business.
The agribusiness giant now projects fiscal-year earnings of $3.15 to $3.25 a share, up 45 cents from last month's forecast.
It also sees fiscal second-quarter earnings of $1.75 a share, excluding a 23-cent gain related to former unit Solutia's bankruptcy. The mean estimates of analysts surveyed by Thomson Financial were for earnings of $1.35 for the quarter and $2.87 for the year.
Monsanto, which is based in St. Louis, said seed sales are better than expected, with the segment's fiscal-year gross profit projected to grow 20%. The company also said global demand for its Roundup brand of herbicides is "outpacing" supply. As such, it now sees growth profit there of $1.7 billion to $1.8 billion.
Read Full Article from Wall Street Journal
- Posted: 2008-03-25 08:51:03
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