US Monsanto fiscal Q2 net income rises 19% on strong seed, traits ops

04 April 2012 14:15  [Source: ICIS news]

HOUSTON (ICIS)--Monsanto’s fiscal 2012 second-quarter net income rose 19% year on year to $1.21bn (€920m), driven by a strong performance of its seeds and traits business, the US-based agricultural products firm said on Wednesday.

Monsanto’s sales for the three months ended 29 February rose 15% year on year to $4.75bn, primarily because of global gains in corn and a strong selling season in the US, the company said.

Monsanto raised its full-year ongoing earnings per share guidance to $3.49-$3.54, from previous guidance in January of $3.39-$3.44.

“Our strong US selling season and growth from Latin America during the first six months have come together to set us up for a great 2012," said CEO Hugh Grant.

"We've seen contributions from growth across crops and geographies, which position us well to deliver high-teens ongoing earnings growth this year,” Grant added.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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