Bayer's Profit Misses Estimates on Decline in Crop Sciences
- Shares drop by most in six weeks in Frankfurt trading
- Forecasts Ebitda ex-items to grow mid-single-digit percent
This article is for subscribers only.
Bayer AG, the German drugmaker that appointed a new chief executive officer yesterday, reported fourth-quarter profit that missed analysts’ estimates as earnings in the company’s agricultural division declined.
Earnings before interest, taxes, depreciation and amortization, and excluding some costs, climbed 4 percent to 1.9 billion euros ($2.1 billion), the Leverkusen, Germany-based company said in a statement on Thursday. That fell short of the 2.04 billion-euro average estimate of 12 analysts surveyed by Bloomberg. Shares of Bayer fell by the most in six weeks in Frankfurt trading.