Bayer (BAYRY) Q1 Earnings Beat, Crop Science Sales Decline

Published on 11 May 2023 on Zacks via Yahoo Finance

Bayer (BAYRY) Q1 Earnings Beat, Crop Science Sales Decline

Bayer AG BAYRY released first-quarter 2023 core earnings of 79 cents per American Depositary Receipt (“ADR”), which beat both the Zacks Consensus Estimate and our model estimate of 55 cents. The company reported earnings of 99 cents per ADR in the year-ago quarter.

However, total sales in the first quarter were $15.4 billion, missing the Zacks Consensus Estimate of $15.7 billion but beating our model estimate of $15 billion. Revenues were down from $16.4 billion reported in the year-ago quarter.

Shares of Bayer have gained 24.8% in the year so far compared with the industry’s growth of 3.2%.

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Bayer (BAYRY) Q1 Earnings Beat, Crop Science Sales Decline

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Bayer (BAYRY) Q1 Earnings Beat, Crop Science Sales Decline