WASHINGTON (AP) – Monsanto Co. reported better-than-expected results for the third quarter on Wednesday as executives continued to pursue a $45 billion takeover of Swiss competitor, Syngenta AG.
Company results on a per-share basis rose to $2.39 in the period, compared with $1.62 in the prior-year period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.05 per share.
The St. Louis company reiterated its goal to more than double its 2014 earnings per share by 2019, emphasizing the potential benefits of a combination with Swiss chemical maker Syngenta, which has three times rejected its unsolicited offers.
“Our proposal to combine with Syngenta is an exciting logical next step for our business, offering the opportunity to accelerate innovation and support a more diverse group of farmers around the world,” said CEO Hugh Grant, in a statement.