Monsanto Co. (MON) said its third quarter net income attributable to Monsanto Co. rose to $937 million or $1.74 per share from last year's $692 million or $1.28 per share.
Earnings per share from ongoing businesses was up to $1.63 from $1.28 in the same quarter a year earlier. On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $1.60 per share. Analysts' estimates typically exclude special items.
Net sales increased 17 percent to $4.22 billion from a year ago, driven by unit volume growth in the company's seeds and traits business, complemented by better-than-expected sales across Monsanto's chemistry portfolio. Analysts expected revenues of $4.00 billion.
The company confirmed 2012 earnings per share guidance in the range of $3.65 to $3.70 on an ongoing basis, with mid-teens ongoing earnings growth for fiscal year 2013 projected from the base of $3.65 to $3.70. The company still expects 2012 earnings per share on an as-reported basis to be $3.73 to $3.78. Analysts expect the company to earn $3.70 per share for the year.
Monsanto also reaffirmed its previously announced full-year free cash flow guidance for fiscal year 2012 in the range of $1.7 billion to $1.8 billion.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.