Monsanto misses Street 2Q forecasts
ST. LOUIS (AP) — ST. LOUIS (AP) — Monsanto Co. (MON) on Wednesday reported fiscal second-quarter net income of $1.06 billion.
The St. Louis-based company said it had profit of $2.41 per share. Earnings, adjusted for one-time gains and costs, were $2.42 per share.
The results fell short of Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.45 per share.
The agriculture products company posted revenue of $4.53 billion in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $4.78 billion.
Monsanto expects full-year earnings in the range of $4.40 to $5.10 per share.
Monsanto shares have decreased 12 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has declined 26 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MON at http://www.zacks.com/ap/MON
Keywords: Monsanto, Earnings Report, Priority Earnings