By Adria Calatayud
Bayer reported a sharply higher first-quarter net profit, aided by a gain from the sale of an antibiotics business and stronger underlying earnings at its agricultural division.
The German agricultural-and-pharmaceutical group said Tuesday that net profit for the first quarter was 2.76 billion euros ($3.25 billion) compared with 1.30 billion euros for the same period last year, when its results were hit by litigation provisions. The company also said it booked net special gains of 324 million euros mainly linked to the sale of its Avelox antibiotics business.
After years of legal battles that prompted Bayer to book multibillion-dollar provisions, the company is looking to contain the litigation over Roundup--the world's most widely used weedkiller--in 2026.
Quarterly sales were 13.405 billion euros, up 4.1% when excluding currency and portfolio changes. Analysts had forecast sales at 13.42 billion euros, according to consensus estimates compiled by Vara Research.
Bayer reported organic growth in its agricultural and consumer-health businesses that offset a decline in its pharmaceutical division.
Earnings before interest, taxes, depreciation and amortization excluding special items rose 9% to 4.45 billion euros. Analysts expected the metric at 3.93 billion euros.
Bayer confirmed its full-year outlook adjusted for currency changes.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
05-12-26 0210ET
