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Monsanto upbeat on first quarter

Strong sales in Latin America and a timing shift in sales in Australia and the US have prompted Monsanto to raise its earnings guidance for the three months ended October 30th. The company expects to report earnings per share (EPS) in the $0.15-0.20 range for the first quarter of fiscal 2012 rather than the previously forecast $0.10-0.15. However, as the first quarter represents only a small proportion of Monsanto’s business, it is maintaining its full-year EPS guidance of “mid-teens” growth at $3.34-3.44 ( Agrow No 626, p 3), according to senior vice-president and chief financial officer Pierre Courduroux.

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