Monsanto reports better-than-expected earnings, sales disappoint in first quarter

Monsanto Co. shares dipped more than 1% in premarket trade on Wednesday following better-than-expected first-quarter earnings. The agriculture company reported a net loss of $253 million for the first quarter, or 56 cents loss per share of, compared with net income of $243 million, or per-share earnings of 50 cents during the same period a year ago. Monsanto’s adjusted loss per share was 11 cents, less than the FactSet consensus of a 23 cents per share loss. Sales of $2.22 billion dropped compared with $2.87 billion in the year earlier period, and they were below the $2.38 billion FactSet consensus. Monsanto said it has finalized a plan to reach its $500 million per year target in savings by the end of 2018.

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