Agricultural products giant Monsanto Co. reported that its second-quarter net income attributable to company increased to $1.67 billion or $3.15 per share, from $1.48 billion or $2.74 per share in the same quarter last year.
Earnings per share from ongoing business for the quarter grew to $3.15 from last year's $2.73. Analysts polled by Thomson Reuters expected the company to report earnings of $3.07 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $5.83 billion from $5.47 billion in the prior year quarter. Sixteen analysts had consensus revenue estimate of $5.80 billion for the quarter.
The company confirmed its fiscal year 2014 guidance for earnings per share of $5.00 to $5.20 on an ongoing basis and $5.02 to $5.22 on an as-reported basis. Analysts project annual earnings per share of $5.26.
