Monsanto (MON $69.77 +2.86) Reports Q3 (May) earnings of $1.26 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus Estimate of $1.11; revenues rose 21.2% year/year to $3.59 bln vs the $3.38 bln consensus. Co issues upside guidance for FY11, sees EPS of $2.84-2.88 vs. $2.81 Capital IQ Consensus Estimate.
Co said "the strength of its seeds and traits business in the United States and Latin America combined with the well-received implementation of its agricultural productivity strategy drove a successful fiscal third quarter for the company."
Monsanto announced the staff of the Securities and Exchange Commission is conducting an investigation regarding Monsanto's customer incentive programs relating to its glyphosate products in fiscal years 2009 and 2010, and Monsanto has received a subpoena for documents in connection therewith. Monsanto is cooperating with the staff's investigation.






