Monsanto reported record second quarter results this morning and increased its full year outlook on surprising strength in global corn shipments.
The company said it earned $1.2 billion during the period, on top line results of $4.7 billion. Results were largely driven by core results in its U.S. operations, but the company is gaining steam in emerging markets including Brazil and eastern Europe.
Brazil is a particularly important market to Monsanto, because it recently gained regulatory approval for Intacta RR2 Pro. The company estimates it could top $500 million in annual sales.
Below, the summary of Brazil’s importance to Monsanto.
Monsanto also notes that countries like Poland and Romania are becoming increasingly important to its success, with the region potentially a $2 billion revenue generator for the company.
Take a look.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.