Bayer Confirms 2022 Objectives After 3Q Sales Beat
November 08 2022 - 2:24AM
Dow Jones News
By Cecilia Butini
Bayer AG on Tuesday backed its 2022 financial objectives after
third-quarter sales beat expectations and it reported earnings
growth in all its segments.
The German pharmaceutical-and-agricultural company posted net
profit of 546 million euros ($547.2 million) for the period, up
from EUR85 million the year prior, when its agricultural division
was in a recovery phase. Earnings before interest, taxes,
depreciation and amortization before special items--a
closely-watched metric--was EUR2.45 billion for the period, up from
EUR2.09 billion the year prior.
Sales rose to EUR11.28 billion for the quarter from EUR9.78
billion the year prior.
Both sales and Ebitda before special items beat analysts'
expectations, while net profit came slightly short.
Bayer backed its 2022 view, and Chief Executive Werner Baumann
said the company is right on track to achieve the full-year outlook
it raised in August.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
November 08, 2022 02:09 ET (07:09 GMT)
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