Monsanto Raises Forecast as Net Gains 77%

[WhiteTara]

Source: Bloomberg

Monsanto Co. (MON), the world’s largest seed company, reported fiscal third-quarter earnings that topped analysts’ estimates and raised its full-year profit forecast on higher sales of Roundup weed killer and genetically modified crop seeds.

Net income climbed 77 percent to $680 million, or $1.26 a share, in the three months through May 31, from $384 million, or 70 cents, a year earlier, St. Louis-based Monsanto said today in a statement. That beat the $1.10 average estimate of 17 analysts in a Bloomberg survey. Sales rose 21 percent to $3.59 billion from $2.96 billion.

Snip

Roundup, the world’s best-selling herbicide, and other crop chemicals returned to profit after a $175 million loss before interest and tax in the year-ago quarter. Gross profit from seeds and genetics rose 21 percent after Chief Executive Officer Hugh Grant cut prices of new corn and soybean seeds in an effort to stop gains by DuPont Co.’s Pioneer unit.

“Its decision to aggressively lower its list prices has provided the company with a much-needed opportunity to repair its badly damaged relationship with growers,” Don Carson, a New York-based analyst at Susquehanna Financial Group who rates Monsanto “positive,” said in a Jun

Read more: http://www.bloomberg.com/news/2011-06-29/monsanto-raises-full-year-forecast-on-higher-roundup-sales-shares-advance.html

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I'm so happy they are making money while they kill the world. :sarcasm:

[SpiralHawk]

1. Monsanto's Roundup (R) and birth defects

Vast quantities of this toxic crap are being flushed from flooded farm fields right now into the Missouri and Mississipi, thence onward to the Gulf of Mexico. Thanks a pantload, Monsanto


Birth Defects Caused By World's Top-Selling Weedkiller Roundup
by Lucia Graves, Huffington Post <http://www.huffingtonpost.com/2011/06/24/roundup-scientists-birth-defects_n_883578.html>

WASHINGTON -- The chemical at the heart of the planet's most widely used herbicide -- Roundup weedkiller, used in farms and gardens across the U.S. -- is coming under more intense scrutiny following the release of a new report calling for a heightened regulatory response around its use.

Earth Open Source Report: < http://www.scribd.com/doc/57277946/RoundupandBirthDefectsv5 <http://www.scribd.com/doc/57277946/RoundupandBirthDefectsv5> >


[WhiteTara]

2. But, they're making money! Why should they

care if they kill the world? Money is very important.

[russspeakeasy]

3. IMHO, It is a horrible company that has no respect for human life.

There is a monsanto rep that lurks on this site, so be prepared for some blowback.

[No Elephants]

4. Monsanto wishes to express its gratitude to all who made that possible, including

the FDA and the former U.S. Solicitor General.

And tell most other Americans to suck it.

[TatonkaJames]

5. Has anyone noticed how food doesn't taste the same anymore

Especially fruit ? I don't believe my taste buds have changed that dramatically but I remember how peaches, for example tasted 25 years ago, and now they have no real taste.
Unless I buy locally from co=ops, the fruit and veggies in super markets taste bland.

[ixion]

6. Buh-bye, Food Supply

:nuke: