Monsanto’s fiscal Q3 net income slips 3%, sales flat at $4.25bn

26 June 2013 16:57  [Source: ICIS news]

HOUSTON (ICIS)--Monsanto’s fiscal 2013 third-quarter net income fell by 3% year on year to $909m (€691m), with sales flat at $4.25bn, the US-based international agricultural products and chemicals firm said on Wednesday.

Third-quarter results reflect a decreased year-on-year contribution from the Monsanto’s Brazil soybean business, a decrease in overall planted cotton acres, and the continued effect of higher production costs from the 2012 drought, the company said.

Monsanto’s gross profit for the three months ended 31 May was $2.26bn, compared with $2.36bn in the same period a year ago.

Monsanto said that for the full 12 months of fiscal 2013 it expects 20% growth in “ongoing earnings.”

"This is a year where the strength of our global portfolio has really been highlighted, and with the continued strength of our larger, more global business, we're on track to deliver more than 20% ongoing earnings growth in fiscal year 2013 and in a very strong position to build on that success with continued growth next year," said CEO Hugh Grant.

($1 = €0.76)

By: Stefan Baumgarten
+1 713 525 2653

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