‘Much Worse’On the other hand, the earnings may give Monsanto’s German suitor an excuse to back out, according to Jonas Oxgaard, an analyst with Sanford C. Bernstein & Co. in New York. “I could see how Bayer could say, this looks much worse than we thought,” Oxgaard said by phone. There was little good news from Monsanto’s third quarter, which ended May 31.
- Third-quarter net income was the lowest in five years.
- Monsanto said full-year earnings will now be at the low end of a previously announced range of $4.40 to $5.10 a share.
- It reported a 17 percent decline in sales of its genetically modified soybeans, one of its biggest earners.
- It also said production of generic glyphosate weedkiller in China is pushing down prices for Roundup, Monsanto’s bestselling herbicide.