Agribusiness giant Syngenta reported sales increased 2 percent to $3 billion in the third quarter.
The Switzerland-based company didn’t report net income numbers for the latest quarter but said its margins on earnings before interest, taxes, depreciation and amortization for the full year would be below last year’s level. The reasons: the adverse impact of foreign currency movements plus a less-favorable mix of product sales.
The third-quarter sales growth was in line with the projections of analysts polled by Bloomberg News.
Syngenta, which has its global headquarters for biotechnology research in Research Triangle Park, is the world's No. 3 purveyor of seeds, behind Monsanto and DuPont. It's also a leader in crop-protection products such as insecticides and herbicides.
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Syngenta's American depositary receipts, which are the equivalent of common stock, closed Thursday at $60.29. down 28 cents. Its ADRS are down 25 percent for the year.