By AP/KWMU
St. Louis – Monsanto Company says it has raised its third quarter earnings estimates.
The St. Louis based biotechnology company says results are running ahead of the pace for the past several years.
Monsanto says it has had a solid year to date performance globally, as the agriculture season continues to be strong.
Other growth factors include strong sales of seeds and traits throughout the U.S. planting season and early applications of its Roundup herbicide.
As a result, Monsanto anticipates third quarter earnings of about 90 cents a share on a reported basis and about 85 cents a share on an ongoing basis.
This easily beats a Thomson First Call mean earnings estimate of 69 cents a share, based on a survey of nine analysts. Estimates ranged from 60 cents to 71 cents a share.