Despite having a man named Hugh Grant at the helm, Monsanto
Speaking of respect, Monsanto just reported its fourth quarter and fiscal year 2009 results. On a continuing basis, both periods delivered growth over the prior year, which is more than respectable given the agricultural anxiety experienced over the past year.
Seeds and traits delivered a gross profit of $4.5 billion this year, representing 17% growth. Next year, this unit will cross the $5 billion mark as Monsanto rolls out two blockbuster products -- SmartStax corn seeds and Roundup Ready-2-Yield soybeans. And that's just the beginning, seeing as the company plans to introduce seven new products in as many years.
For fiscal 2010 earnings on an ongoing basis, Monsanto left its guidance unchanged at $3.10 to $3.30. That may not sound stellar for a company trading at $75 per share. Compared with the fertilizer shops like PotashCorp