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Monsanto fiscal Q3 profit climbs 29.5% YOY

Monsanto Co. said its normalized net income for the fiscal third quarter ended May 31 amounted to $2.01 per share, compared with the S&P Capital IQ consensus estimate of $2.07 per share.

EPS climbed 43.8% year over year from $1.40.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $958.5 million, a gain of 29.5% from $739.9 million in the prior-year period.

The normalized profit margin rose to 20.9% from 17.4% in the year-earlier period.

Total revenue grew 7.7% on an annual basis to $4.58 billion from $4.25 billion, and total operating expenses decreased on an annual basis to $2.94 billion from $3.00 billion.

Reported net income rose 32.9% year over year to $1.14 billion, or $2.39 per share, from $858.3 million, or $1.62 per share.