Confirms earlier guidance for FY 2014, seeing EPS of $5.00-$5.20 vs. $5.25 analyst consensus estimate; expects a strong H2 of its fiscal year, with a significantly smaller loss in its Q4 than in recent years.
Total Seeds and Genomics sales rose 6.9% to $4.65B; growth in the segment represents nearly 80% of MON's overall gross profit increase in the quarter.
Corn seed and traits sales, which account for most of the segment's revenue, rose 4.1%, while soybean seed and traits sales jumped 21%.
Sales in the agricultural productivity business, which consists of crop-protection products and herbicide, grew 5.2% to $1.18B.
Gross margin grew to 59.1% from 56.1%, as product costs edged down 0.7%.