Monsanto sales down 9% in first quarter
Monsanto recorded an 8.7% decline in revenues to $2,870 million in the first quarter of its fiscal 2015. Strong soybean seed and trait sales could not offset declines in other crops and agrochemicals during the three months ended November 30th 2014. However, the quarterly results were better than expected. The company posted ongoing earnings per share (EPS) of $0.47, which was ahead of initial guidance at approximately half of the $0.67 recorded for the same period in fiscal 2014. "The near-term headwinds in agriculture persist, but our ability to deliver new solutions to help farmers improve yields while efficiently using resources provides the opportunity to deliver growth in both the current environment and over the longer term," says Monsanto chairman and CEO, Hugh Grant.