Monsanto Co.’s loss in the fourth quarter widened as corn seed and trait sales declined and its operating expenses increased.
The Creve Coeur-based biotechnology giant’s adjusted earnings beat Wall Street’s estimates, but its revenue fell short of expectations and it provided a full-year earnings forecast below analysts’ estimates.
For the three months ended Aug. 31, the maker of genetically engineered seeds and the herbicide Roundup said it lost $229 million, or 42 cents per share. That compares with a loss of $112 million, or 21 cents per share, a year earlier.
Read more at St. Louis Post-Dispatch.