Bayer Expects Profits to Fall Amid Sluggish Farming Prices
Shares are down by almost 80% since Bayer acquired Monsanto.
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Bayer AG forecast a third straight year of falling profit as the German company struggles with mass litigation in the US, slumping prices for agriculture products and fresh competition for one of its best-selling medicines.
Core earnings will probably fall to between €4.50 ($4.80) and €5 a share on a currency-adjusted basis, the company said in a statement Wednesday. That’s down from €5.05 last year and compares with analysts’ average estimate of €4.61.