Monsanto Narrows Loss, Sales Top Estimates

Monsanto Co. said it had a net loss of $156 million, or 31 cents a share, in its fiscal fourth quarter to Aug. 31, narrower than the $249 million loss, or 47 cents a share, posted in the year-earlier period. The seeds and herbicide maker said the loss from its ongoing business came to 27 cents a share. Sales totaled $2.630 billion, up from $2.202 billion a year ago. The FactSet consensus was for a loss of 24 cents a share on sales of $2.418 billion. Monsanto said it now expects fiscal 2015 per-share earnings of $5.75 to $6.00,assuming the continued growth of its seeds and genomics business. Cash flow is forecast at $2 billion to $2.2 billion. Shares fell 1.3% in premarket trade and were down 7.6% in the year through Tuesday's close, while the S&P 500 has gained 4.7%.