Bayer raised its profit outlook for 2026 on Tuesday after its pharmaceutical division delivered stronger-than-expected results in the third quarter. The company now expects adjusted operating profit, on a currency-adjusted basis, of €9.8 billion to €10.3 billion, up from its previous range of €9.6 billion to €10.1 billion.
Pharmaceutical sales totaled €4.68 billion between July and September, 5% above analysts’ expectations in a Vara Research survey. Adjusted EBITDA for the division reached €1.62 billion, about 13% higher than expected.
“We have reached an inflection point in the pharmaceutical division’s growth trajectory and are beginning to see the other side,” CEO Bill Anderson said.
Bayer also lowered its forecast for net financial debt at the end of the year by €1 billion, to a range of €28 billion to €29 billion.
The company’s agricultural science division, which sells seeds and crop protection products, reported adjusted operating profit of €101 million, below analysts’ expectations of €164 million. Higher selling expenses and weaker sales in the EMEA and Asia-Pacific regions weighed on the division.
Bayer shares were up 2% in early trading in Frankfurt. The company has carried substantial debt since its 2018 acquisition of Monsanto for $63 billion, which also brought costly litigation related to Roundup.
Sources: Folha Mercado.