Seed maker Monsanto posts 1Q loss on weak sales
ST. LOUIS (AP) — Monsanto, the world’s biggest seed maker, says it lost $19 million in the first quarter as global sales of its popular Roundup herbicide sank in the face of generic competition.
Monsanto Co. said Wednesday its loss amounted to 3 cents per share in the quarter ended Nov. 30. The company earned $556 million, or $1 per share, in the same period a year ago.
The company from St. Louis says its revenue fell to $1.7 billion from $2.65 billion a year ago.
Analysts had been looking for a break-even quarter on higher revenue of almost $2 billion.
Its shares fell 2.5 percent to $82.90 in premarket trading.