There’s a reason that Monsanto recently made a suicide bid for its competitor Syngenta’s business. The company continues to lose profits, with the latest numbers painting a continued stark financial picture for one of the most hated companies in the world. [1]
Announced just this past week, Monsanto related figures showing that sales in the company’s agricultural productivity segment, which includes its best-selling Roundup herbicide, fell 34% to $820 million for the quarter ended Nov. 30. Shares fell slightly due to the admittance.
Monsanto also revealed that it plans to cut more of their work force – a total of 3600 jobs, which accounts for 16% of its global employee base. The biotech giant will also record $1.1 billion to $1.2 billion in ‘restructuring’ costs.
This news follows recent press releases from Monsanto stating that it would cut 2600 jobs globally to cut costs and consolidate some of its business. It also said it would be getting out of the sugar cane business completely, possibly due to Hershey’s recent vow to remove GM sugar from some of its products.
Monsanto has been struggling for investor confidence following the announcement in March 2015 from the World Health Organization’s IARC that declared glyphosate, the world’s most commonly used weed-killer – a “probable human carcinogen.” This ingredient is the back-bone of Monsanto’s herbicide, Roundup.
Many of Monsanto’s genetically modified crops were designed to be grown as ‘Roundup Ready,’ meaning that they can withstand copious amounts of the chemical.
Obviously the growing bans of this toxic chemical concoction in multiple countries will only continue to affect Monsanto’s financials.
Monsanto stated:
“Net sales for the quarter decreased over the prior year’s first quarter to $2.2 billion. Gross profit on an as-reported basis for the 2016 first quarter also decreased over the prior year period to $901 million. As expected, the decline in the quarter is due to weaker foreign currencies, glyphosate pricing and lower corn volumes in Latin America.
With the anticipated continuation of several global and industry headwinds that include the recent currency devaluation in Argentina, Monsanto expects full-year ongoing EPS guidance to be at the lower half of the range of $5.10 to $5.60.”
Sources:
Why does Chrissy want to spread these lies? Are Monsanto’s sales what they were? No, but neither are any other ag company, because farming as a whole is less profitable today vs the last five years. Chrissy once again ignores fact for her personal gain, how sad.
“Chrissy”? Really? And please cite your facts that support your claim that she is lying. And please tell us how this article, supposedly (according to you) for her “personal gain”, is any different than any other journalist writing similar articles on any other topic because that’s the job they get paid to do? Thank you.
GMO R always says “Chrissy.” He demeans anyone who says anything Factual about his pathogenic GMOs. I suspect that he’s paid by the Bivings Group to shill for Monsanto.
The moron is either on the take as a paid moron or very seriously mentally ill.
To him nothing exists beyond oneself and one’s immediate experiences., which amounts to a refusal to acknowledge anybody else’s common sense experience of the world as valid. In his world no one else exists and his degree in underwater basket weaving has granted him intellectual superiority, not to mention enhancing his ESP abilities.
I’ll vote for seriously mentally damaged, though that is questionable since his responses match thousands of pro GMO scripted responses.
But if your stupid enough to take $10 per response, your a mental case.
Go away GMO Roberts, you are a fraud. If I were you, I’d be screening yourself for cancer, often.
Go to the doctor regularly healthy as a horse hate to tell you. Which arts do you not believe?
Go screw yourself
Stupid.
Finances, economics and corruption are the largest factors, not to mention the stupidity of these corporations leaders. everything else is just patting the general public on the ass and telling them it’ll be ok.
Your a fascist lying moron.
Bwahahhaa! Crash and burn, filthy Monsanto!
Pathetic GMO R. is already WHINING, even to the point of accusing Ms Sarich of lying when she was QUOTING what MONSANTO said!
AAAAHahahahahahhaha!!!!!
Meanwhile, profits from organic farming are increasing!
Down 22% in one year!
http://money.cnn.com/quote/quote.html?symb=MON
“currency devaluation” my great aunt fanny! “GMO devaluation” is more like it! Less and less people want what they’re selling, especially when they’re so deceptive as to block labeling efforts – if their stuff was really so great, why aren’t they proud to have GMO-containing products say so on the label?
The Chinese are buying a lot of farmland in the US.
They don’t need the GE corporations here, they make their own GMO’s.