Monsanto boosts earnings outlook

FROM THE ASSOCIATED PRESS

Monsanto Co. (NYSE: MON) this morning raised its 2008 earnings per share guidance and predicted its second-quarter profit will rise above Wall Street analysts.

The Creve Coeur-based company said it now expects second-quarter earnings per share of $1.98, including a gain of 23 cents per share for a settlement of claims related to a subsidiary’s emergence from bankruptcy. Excluding that gain, the company expects earnings of $1.75 per share.

Analysts polled by Thomson Financial expect earnings per share of $1.34.

The company said its seeds and traits business will contribute more than expected to profit due to brand share growth and increased volume in the soybean business.

Monsanto added its Roundup and other herbicide businesses have also performed well in the quarter with demand exceeding supply.

For the year, Monsanto now expects earnings per share between $3.38 and $3.48, including the gain of 23 cents per share. Excluding that gain, the company expects earnings between $3.15 and $3.25.

The company previously expected earnings in the range of $2.70 to $2.80 per share.

Analysts anticipate earnings of $2.87 per share.

Monsanto reports its second-quarter financial results April 2.