Monsanto Co expects to lose 23 to 33 cents a share in its fiscal first quarter of 2016, dragged by restructuring costs, pricing pressures on its herbicide glyphosate, slower-than-expected U.S. corn seed sales and a weak currency in Brazil, a top executive said on Tuesday.
Monsanto shares slid more than 1 percent. Analysts had expected the company to report a profit of 6 cents per share for the quarter ending Nov. 30.
Monsanto now expects to earn $4.00 to $4.66 a share for fiscal 2016 which ends next August, Kerry Preete, executive vice president of global strategy, told investors at the Morgan Stanley Global Chemicals & Agriculture Conference.