SAINT-LOUIS, Senegal – ST. LOUIS (AP) _ Monsanto Co. (MON) on Wednesday reported fiscal third-quarter net income of $717 million.
On a per-share basis, the St. Louis-based company said it had net income of $1.63. Earnings, adjusted for pretax expenses and non-recurring costs, were $2.17 per share.
The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.41 per share.
The agriculture products company posted revenue of $4.19 billion in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $4.43 billion.
Monsanto expects full-year earnings in the range of $4.40 to $5.10 per share.
Monsanto shares have climbed almost 3 per cent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has fallen 2 per cent 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
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