- Monsanto Co., the world’s biggest seed producer, said earnings this year will be at the low end of its previously announced forecast because of stronger-than- expected competition in its herbicide business.
- Ongoing earnings will be about $4.40 a share, the lowest point of its forecasted range of $4.40 to $4.50, St. Louis-based Monsanto said today in a statement. The company was expected to earn $4.59 a share, the average estimate of 12 analysts in a Bloomberg survey.
- Chief Executive Officer Hugh Grant is facing increased competition from Chinese makers of glyphosate herbicide that is cheaper than the company’s Roundup brand. Monsanto said it will earn $4.5 billion from seeds and genetic licenses, helping to reduce the effect of Roundup profit that will be $400 million less than the company’s $2.4 billion April forecast.
Disclosure: No Position.