Strong showing for global seed giant Monsanto in its earnings report out earlier today. Profits rose 22% on a sales jump of 15%, as both the top and bottom line exceeded expectations from analysts. The seed giant also raised its full year guidance, helping to send shares higher. Strong demand for the company’s genetically modified seed from Latin America pulled results up. Here’s a look at Monsanto’s quarterly profit growth.
With shares up 11% in 2013—outpacing the broader market—investors also seem optimistic that a US Supreme Court case pitting Monsanto against an Indiana farmer that reused Monsanto seeds—which the company’s contracts try to prevent—will ultimately go Monsanto’s way. They’re probably also happy with a controversial legal provision passed last week that makes it easier for producers of genetically modified seeds to keep selling them even if their safety is in doubt. Here’s a look at the shares over the last couple years. They peaked at over $105 each a few days back.
More from Quartz
- The line to get Brazilian soybeans on ships is 15 miles long
- The job-shedding factories of today are the job-shedding farms of 50 years ago
- Colombia, home of Juan Valdez, now has to import coffee
- Investment & Company Information