Seed maker Monsanto keeps 2010 profit outlook, focuses on new corn, soybean products
By APWednesday, February 10, 2010
Seed maker Monsanto maintains 2010 profit outlook
ST. LOUIS — Monsanto Co., the world’s biggest seed maker, said Wednesday that it is on track to meet its financial targets this year.
Monsanto also said it remains focused on building opportunities for new corn and soybean products.
The company said it will tell investors at the Goldman Sachs 14th annual agricultural biotech forum that it expects to make between $3.10 and $3.30 per share this year before restructuring charges of 19 to 25 cents per share.
Analysts surveyed by Thomson Reuters expect profit of $3.28 per share. Such estimates typically exclude charges.
Brett Begeman, executive vice president of seeds and traits, also is expected to talk about expected strong growth in Latin America, a key driver for the company.
Monsanto shares fell 42 cents to $75.30 in midday trading Wednesday. The shares have traded between $66.57 and $93.35 over the past year.
(This version CORRECTS Monsanto executive’s name to Brett)
