Skip to content
Subscriber Only

Monsanto Earnings Drop as Drought Boosts Production Costs

Monsanto Co., the world’s largest seed company, reported third-quarter earnings fell 3 percent as increased seed-production costs overshadowed rising prices for Roundup herbicide.

Net income dropped to $909 million, or $1.68 a share, in the three months through May, from $937 million, or $1.74, a year earlier, St. Louis-based Monsanto said today in a statement. Per-share profit excluding a legacy tax matter was $1.66, exceeding the $1.59 average of 15 analysts’ estimates compiled by Bloomberg.