Monsanto Loss Trails Estimates on Seed, Roundup Drops

Monsanto Co., the world’s largest seed producer, reported a first-quarter loss that trailed analysts’ estimates as sales of corn and soybean seeds dropped and prices for Roundup herbicide declined.

The loss in the three months ended Nov. 30 was 2 cents a share, excluding some items, St. Louis-based Monsanto said today in a statement. That trailed the average estimate of break-even results from 14 analysts in a Bloomberg survey. Sales fell 36 percent to $1.7 billion.

Chief Executive Officer Hugh Grant is developing new genetically modified corn and soybean seeds to boost profit as sales of Roundup weed killer are hurt by cheaper generic versions. Profit from seeds and gene licensing fell 12 percent as Latin American sales dropped, and earnings from glyphosate- based weed killers, including Roundup, tumbled 89 percent.

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- Posted: 2010-01-06 10:43:39

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