This article is from: srnnews.com
FRANKFURT, May 12 (Reuters) – Bayer on Tuesday reported a 9% gain in first-quarter operating profit, well above market expectations and driven mainly by revenues from soy seeds at its agricultural business.
Quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, came in at 4.45 billion euros ($5.23 billion).
That surpassed average analyst expectations of 3.93 billion euros, based on a consensus posted on the company’s website.
Earnings at the Crop Science jumped 17.9% to 3.0 billion euros, boosted by the resolution of a soy licensing dispute with major rival Corteva this year.
The group also confirmed its currency-adjusted guidance for 2026 results.
(Reporting by Ludwig Burger, Editing by Friederike Heine, Kirsti Knolle)
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