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Monsanto fiscal Q2 profit falls YOY

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Monsanto fiscal Q2 profit falls YOY

Monsanto Co. said its normalized net income for the fiscal second quarter ended Feb. 28 came to $2.52 per share, compared with the S&P Capital IQ consensus estimate of $2.94 per share.

EPS fell 8.4% year over year from $2.76.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.23 billion, a decrease of 15.7% from $1.46 billion in the prior-year period.

The normalized profit margin declined to 23.7% from 25.1% in the year-earlier period.

Total revenue decreased 10.9% year over year to $5.20 billion from $5.83 billion, and total operating expenses decreased 6.9% from the prior-year period to $3.18 billion from $3.41 billion.

Reported net income decreased 15.3% on an annual basis to $1.42 billion, or $2.90 per share, from $1.67 billion, or $3.15 per share.