Monsanto Company (NYSE: MON) was in the green in Thursday’s first hour, after meeting its objectives in second-quarter Earnings per Share.
Thursday, the company highlighted progress related to its FY18 business objectives, including the expected acres of INTACTA RR2 PROTM soybeans in South America and Roundup Ready 2 Xtend® soybeans in the U.S., coupled with the benefits from improved glyphosate pricing.
The company also noted that results for its second quarter of fiscal year 2018 represented a solid performance, with as-reported earnings per share of $3.27 and $3.22 in ongoing earnings per share.
With Bayer leading the regulatory process for the pending merger, the companies continue to cooperate with regulators and have seen solid progress. The number of anti-trust approvals continues to increase, most notably from the European Commission, China and Brazil, and, as a part of this process, Bayer has announced several planned divestitures.
With these actions, Monsanto continues to be confident in the companies’ collective ability to secure the required approvals within the second calendar quarter of 2018 and in the time contemplated by the agreement.
Monsanto achieved its as-reported second quarter EPS of $3.27 and $3.22 in ongoing quarterly EPS. Monsanto also expects to hold genetic share for the full year in corn despite lower volumes and pricing in the quarter.
Gross profit in Agricultural Productivity segment was up by more than 30% from improved glyphosate pricing
Shares in Monsanto gained 23 cents to $116.44
Related Stories
