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Monsanto beats profit expectations

A maize seedling is seen in the corn greenhouse at the Monsanto Canada Goose Coats On Sale Research facility in Chesterfield, Missouri in this file photo taken October 9, 2009. REUTERS/Peter NewcombShares were up 1.5 percent after the company, a leading developer of genetically engineered corn, soybeans Canada Goose Online and other crops, said it expects to sell buy canada goose jacket cheap a record amount of corn this year as it expands product offerings and deepens its penetration in Latin America.If the company achieves the higher profit Canada Goose Outlet it targeted Canada Goose Parka Wednesday, it will be the third consecutive year of greater cheap canada goose uk than 20 percent growth in earnings per canadian goose jacket share, said Monsanto Chairman Hugh an important indicator canada goose coats of our momentum, canada goose black friday sale Grant said on a conference call.Still, the market reaction was less enthusiastic than it might have been because the gains canada goose that beat analysts already uk canada goose lofty earnings expectations stemmed not from seed sales but from the company smaller glyphosate herbicide business, and also from a lower tax rate.did beat. that is the good news, but most of the beat was due to a low tax rate and also Canada Goose sale due to Roundup (herbicide), said BGC Financial analyst Mark Gulley.Edward Jones analyst Matt Arnold also saw canada goose coats on sale the quarterly performance as Canada Goose online warranting only modest applause. But, he said, Monsanto appears well situated for continued a great portfolio, Arnold said. seeds and genomics business is performing quite well. This is a very, very well positioned company.As well, many analysts expected Monsanto to raise its full year earnings guidance even higher, to at least $4.58 a share.Monsanto officials said the strength of uk canada goose outlet the second quarter gave them confidence that they could raise the company fiscal 2013 earnings guidance by 10 Canada Goose Jackets cents a share to a range of $4.40 to $4.50 per share before certain canada goose clearance Canada Goose Outlet after tax items. That compares with a target set in January of $4.30 to canada goose clearance sale $4.40 per share.The outlook canada goose factory sale for canada goose uk shop net earnings for the full year was raised to $4.42 to $4.52 a share, up from $4.31 to $4.41.Monsanto said net earnings in the second quarter, ended February buy canada goose jacket 28, were $1.48 billion, or $2.74 a share, up from $1.21 billion, or $2.24 a share, a year earlier.It earned $2.73 a share before items, up from $2.28 a year earlier. Analysts were looking canada goose uk black friday for $2.58, according to Thomson Reuters I/B/E/S.BIG CORN SEEDINGS SEEN Net sales for the quarter increased 15 percent to $5.5 billion, led by sales of corn seed and genetic traits, which rose more than 16 percent to $3.28 billion. The company benefited from a lower tax rate and a 37 percent jump in sales by its herbicide unit.That offset a nearly 2 percent decline in sales of soybean seeds and traits, a 7 percent drop in vegetable seed sales, and a 9 percent slide in cotton seeds and traits. government expects to total about 97.3 million acres of corn this year, the most since 1936.Returning capital to shareholders should be a key priority, Gulley said.Monsanto canada goose store officials said Wednesday that they are working to share the riches with shareholders through tactical canada goose uk outlet buybacks of shares cheap Canada Goose and through dividend payouts.

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