Monsanto Announces Major Losses After Settling Environmental Suit – 13 October 2014

Lucas 2012 Infos

RT logoBiotech giant Monsanto announced major losses for their fourth quarter last week well below analysts’ expectations after spending millions settling an environmental suit.

The St. Louis, Missouri-headquartered company announced a loss of $156 million, or 31 cents per share, on Wednesday, 7 cents per share beyond what analysts surveyed by both Bloomberg and Zacks Investment Research had expected.

According to the Associated Press, Monsanto managed to take the biggest blow during the last quarter due to a one-time payment made to settle an environmental legal case and, had it not occurred, the company would have lost only 27 cents per share. As RT reported at the time, residents of a West Virginia town where Monsanto formerly operated a chemical plant have since July been able to receive free medical monitoring or have their property cleaned-up thanks to a settlement agreement valued at over $90 million.
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