German pharmaceutical and life sciences company Bayer reported significantly higher first-quarter profit on Tuesday, primarily helped by special gains.
Net income attributable to shareholders rose to €2.763 billion ($3.25 billion) or €2.81 per share from €1.299 billion or €1.32 per share in the prior-year quarter.
In the first quarter, Bayer recorded special gains of €324 million, mainly related to the sale of the Avelox business, compared with special charges of €587 million last year. Core earnings per share increased 12.9% to €2.71.
Earnings before interest and tax (EBIT) rose 51.8% to €3.528 billion, and EBIT before special items improved 10.1% to €3.204 billion.
Earnings before interest, taxes, depreciation and amortization (EBITDA) before special items rose 9% to €4.453 billion from €4.085 billion a year earlier.
First-quarter sales were €13.405 billion, down 2.4% year-on-year. On a currency- and portfolio-adjusted basis, sales increased 4.1%.
In the Crop Science division, sales were broadly stable at €7.558 billion, while Pharmaceuticals sales declined 6.6% to €4.249 billion. Consumer Health sales edged down 0.5% to €1.491 billion.
Looking ahead, the company has reiterated its full-year outlook at constant currencies. Based on exchange rates as of March 31, 2026, Bayer now expects full-year sales of €44.5 billion - €46.5 billion, compared with its previous forecast of €44 billion - €46 billion.
The company also raised its forecast for EBITDA before special items to €9.4 billion - €9.9 billion from the prior range of €9.1 billion - €9.6 billion. Core earnings per share are now expected to be between €4.10 and €4.60, compared with the previous guidance of €4.00 to €4.50, with the revisions reflecting currency effects alone.
