Published on 26 Jul 2023 on Zacks via Yahoo Finance
Bayer (BAYRY) Cuts 2023 Outlook, Reports Preliminary Q2 Results
Bayer Aktiengesellschaft BAYRY reported its adjusted full-year outlook for 2023, earlier this week. The company lowered its 2023 guidance due to a significant decline in sales of glyphosate-based products.
BAYRY now expects sales for the full-year 2023 in the range of €48.5-49.5 billion (previously €51 billion to €52 billion) based on the average monthly exchange rates in 2022, which is also known as currency-adjusted basis.
EBITDA in 2023, excluding special items, is now anticipated in the range of €11.3-11.8 billion (previously €12.5-13.0 billion) on a currency-adjusted basis. Additionally, Bayer expects its core earnings per share between €6.20 and €6.40 (previously €7.20-7.40), on a currency-adjusted basis.