Monsanto’s earnings drop 34% in first quarter

Jan 07, 2015

Profit of $243 million reported, down from $368 million

By Diego Flammini, Farms.com

As a result of record harvests in soybeans and corn that sent prices for the crops plummeting, farmers from South America and beyond reduced their need for corn seeds from Monsanto, dropping the company’s earnings by 34%.

They said corn acres dropped by about 20% in Argentina, 10% in Brazil, and their cotton planning in Australia saw reductions.

Their profits went from $368 million, trading for about 69¢ per share, to $243 million, or 50¢ per share.

The company said on the larger scale, the demand for corn and soybeans is still there and they expect their full-year earnings to be in the range of $5.75 to $6.00 per share.

"The near-term headwinds in agriculture persist, but our ability to deliver new solutions to help farmers improve yields while efficiently using resources provides the opportunity to deliver growth in both the current environment and over the longer-term," said CEO Hugh Grant in a statement.

Sales of their most popular herbicide, RoundUp, and other chemical products declined from $1.47 billion to $1.25 billion.

Video: EP 72 Connection People to Place – Stories of Regeneration Part 5

2023 was a challenging year for Canadian farmers and ranchers and for humanity in general. We had droughts, wildfires, floods, an affordability crisis and a number of armed conflicts. According to scientists working with the European Union, 2023 smashed temperature records globally.

And yet, someone like Nova Scotia agricultural producer Rachel Lightfoot still finds ways of being optimistic even after her farm got hit by a polar vortex, a dry spring and a very rainy summer all in the same year.

Welcome to Stories of Regeneration, a podcast series brought to you by Rural Routes to Climate Solutions and Regeneration Canada. Join me, your host Derek Leahy, as we delve into the importance of supporting an agricultural system that not only prioritizes the health of our land and ecosystems but also ensures the sustainability of our farmers and ranchers. Get ready to explore the transformative power of regenerative agriculture.