News Summary: Monsanto's 3Q profit slips 3 pct

News Summary: Monsanto's fiscal 3rd-quarter profit slips 3 percent, as seed sales slump

Associated Press

THE RESULTS: Seed giant Monsanto Co. said Wednesday that its fiscal third quarter earnings slipped 3 percent, as higher costs and hits to its cotton and soybean segments weighed on results.

THE PARTICULARS: The St. Louis company earned $909 million, or $1.68 per share, in the quarter ended, down from $937 million, or $1.74 per share, a year ago. Earnings totaled $1.66 per share, not counting a tax matter resolution. Revenue inched up less than 1 percent to $4.25 billion.

THE EXPECTATIONS: Analysts expected earnings of $1.61 per share on $4.41 billion in revenue for this year's quarter, according to FactSet.

View Comments