ST. LOUIS—Monsanto Co. saw earnings rise in the third quarter with diluted shares at $1.74, a 36% increase of $0.46 per share over the same period last year. The company’s net sales totaled out at $4.2 billion, up more than $600 million from 2011’s third quarter.
Monsanto executives attributed much of the growth to seeds and its work in plant genetics, stating in a press release that the “continuing momentum of (Monsanto’s) seeds and traits business through key seed selling seasons drove a strong third quarter.” Monsanto’s total sales from seeds and genomics for the quarter were $3.1 billion, a $500 million increase from 2011.
Most of the growth in Monsanto’s seed sales came from corn and soybeans, while cotton and vegetable seed sales actually declined. A national increase in corn planting contributed to record seed sales, according to the company’s press release. Rising agricultural activity in Brazil and Eastern Europe also boosted seed sales for Monsanto.