Switzerland-based agricultural products company,
), reported improved year-over-year sales for third-quarter 2013.
Sales in the reported quarter increased 8% year over year to $2.9
billion. This was led by a rise in revenues across all the
regions and especially Latin America which witnessed a
year-over-year sales hike of 11%. However, on a constant currency
basis, revenues were 11% higher than the year-ago quarter.
soared 9.0% to $503 million, due to pre-season demand for
selective herbicides, which was, however, offset by wet
conditions in the U.S. which kept a check on insect growth. Sales
Europe, Africa and the Middle East
increased 6% to $616 million, led by a demand spurt in Italy and
Sales in the
region grew 2% year over year to $406 million due to increased
demand in South Asia on the back of favorable weather. Apart from
South Asia, sales in emerging markets also improved. Business in
improved 11% year over year to $1.2 billion, largely due to the
improvement in the soybean seed portfolio in Brazil.
On a reported basis, Crop Protection sales went up 8% year
over year to $2.3 billion as sales grew 11% in the Latin American
region. In the Crop Protection group, sales for new products
roughly doubled year over year. Seeds sales also grew 8% year
over year to $478 million as sales in North as well as Latin
America grew 11%.
Syngenta expects the Latin American growth to continue in the
fourth quarter of 2013 as well. The company expects underlying
earnings per share in 2013 to be close to $19.70. Considering the
present scenario, Syngenta aims to achieve earnings before
interest, taxes, depreciation and amortization margin in the
Syngenta currently carries a Zacks Rank #4 (Sell). Other
agricultural chemicals companies worth a look are
Air Products & Chemicals Inc.
). While Limoneira and Ferro carry a Zacks Rank #1 (Strong Buy),
Air Products & Chemicals carries a Zacks Rank #2 (Buy).
AIR PRODS & CHE (APD): Free Stock Analysis
FERRO CORP (FOE): Free Stock Analysis Report
LIMONEIRA CO (LMNR): Free Stock Analysis
SYNGENTA AG-ADR (SYT): Free Stock Analysis
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