One Of The Biggest Seed Companies Says 2012 Looks Great

farmer in field

Photo: Food Inc.

Monsanto, one of the world’s largest producers of agriculture products, reported better-than-expected third quarter results this morning, saying 2012 was shaping up to be a strong year for the firm.The company reported earnings per share of $1.63, two cents ahead of the Street’s expectations, on top line results of $4.2 billion.

Sales improved 17 per cent compared to the year-ago period on strong¬†unit volume growth in Monsanto’s seeds and traits units. The St. Louis based company also saw better-than-expected results in its chemistry business.

“We’ve achieved excellent business results this year, but more importantly we’ve continued to receive positive response to our products from farmers,” Monsanto’s Chief Executive¬†Hugh Grant said.

Monsanto also re-affirmed earlier guidance in the range of $3.65 to $3.70 per share

Shares are up 2 per cent in pre-market trade.

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