Monsanto raises earnings guide for third time
A projected sales record for Monsanto’s maize seed business and continued strength in its agrochemical business has prompted the company to raise its full-year earnings guidance for the third consecutive quarter. Monsanto expects its ongoing earnings per share (EPS) to amount to $4.50-4.55 in the year ending August 31st 2013. That would represent ongoing earnings growth of more than 20% over fiscal 2012. The company raised its EPS guidance to $4.40-4.50 in April after a strong first half (Agrow No 661, p 4).