|
The
company now expects full-year adjusted earnings to be in the
lower half of the $5.10 to $5.60 range, partly due to weak
currency in Argentina.
Monsanto has come under renewed pressure to pursue a merger with
Swiss agrochemical maker Syngenta after the ongoing merger
between DuPont and Dow Chemical Co paved the way for an industry
shake-up.
Monsanto, which is known for its genetically engineered corn,
soybeans and the Roundup herbicide, abandoned a $45 billion bid
for Syngenta in August.
Net loss attributable to the company was $253 million, or 56
cents per share, in the first quarter ended Nov. 30, compared
with a profit of $243 million, or 50 cents per share, a year
earlier.
On an adjusted basis, Monsanto reported a loss of 11 cents per
share.
Analysts on average had expected a loss of 23 cents, according
to Thomson Reuters I/B/E/S.
Total net sales of the company fell 22.7 percent to $2.22
billion.
(Reporting by Amrutha Gayathri in Bengaluru and P.J. Huffstutter
in Chicago; Editing by Don Sebastian)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
