Monsanto (MON) Sees Second Quarter Profit Surprise
May 14th, 2008Saint Louis based Monsanto (MON), a leading seed company, announced a strong second quarter profit. In fact, the earnings release showed profit more than doubled from the previous year’s second quarter. The news was inspiring to stock trading and many investors added the company to their trading portfolio. Some analysts noted the company’s 2008 earnings forecast in their lists of stock warning signs.
Monsanto earned $1.13 billion during the quarter which ended February 29, or $2.02 per share. This was up from $543 million or 98 cents per share from the previous year’s second quarter. A strong 45% surge in revenue, from $2.6 billion to $3.8 billion was a big contributor to the company’s growth. Corn seed, one of the company’s leading products, saw $1.7 billion in quarter revenue, up from $1.2 billion the year before. [more…]

