Farm Products industry alert provided by U.S. Equity News. Ethanol and grain producer The Andersons Inc. (NASDAQ: ANDE) raised its full-year earnings outlook recently, citing positive factors in the agriculture industry. The company projected earnings per share of between $3.15 and $3.35, up from previous guidance of $2.90 to $3.15 per share. Analysts polled by Thomson Financial expect earnings of $3.14 per share, on average. The company credited results to the improved performance of its plant nutrient group and its grain and ethanol group, which is seen benefiting from a large grain harvest.
The chairman of agricultural technology company Monsanto Co. (NYSE: MON) exercised options for 34,446 shares of common stock and sold them under a prearranged trading plan, according to a Securities and Exchange Commission filing. In a Form 4 filed with the SEC recently, Richard B. Clark reported he exercised options for the shares for $16.19 to $20.81 apiece and then sold all of them the same day for $91 to $91.64 apiece. The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Chemicals and seeds maker Syngenta AG (NYSE: SYT) said recently that its third-quarter sales rose 21 percent thanks to strong growth in Latin America. Syngenta, one of the world's largest agrochemical companies, said sales in the three months ending Sept. 30 reached $1.71 billion (1.2 billion euros), up from $1.41 billion last year. Shares in Syngenta rose 5.8 percent to close at 275.00 Swiss francs ($235.26) in Zurich. Analysts at Zuercher Kantonalbank said the result was about 10 percent higher than expected, and noted strong growth in both the crop protection and seed sales divisions.
Yan Skwara, CEO and President of US Farms, Inc. (OTCBB: USFI) will be a guest on the Corporate Strategies radio show airing Friday from 9:00am-11:00am ET, 6:00am-8:00am PT. US Farms is one of the largest U.S. growers of Aloe Vera and a leading winter supplier of asparagus. They also handle an aggressive year-round brokerage of tomatoes and garlic in the United States, as well as expanding nursery operations. US Farms has audited revenues of approximately $4.1 million for the two quarters ended June 30, 2007 (roughly Q1 - $1.8 million, Q2 - $2.3 million). They currently broker over 80 produce items (vegetables and fruits) through multiple wholly owned subsidiaries.
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