Bayer reports €4.5 billion EBITDA before special items, up 9% year-over-year despite currency headwinds.
Bayer AG posted first-quarter non-GAAP earnings per share of €2.71 on revenue of €13.41 billion, a 2.4% decline from the same period last year. The company’s EBITDA before special items rose 9% to €4.5 billion, though a €0.3 billion negative currency effect weighed on results.
Revenue fell short of the prior-year print, while EBITDA growth outpaced expectations. Free cash flow turned negative at €2.3 billion, driven by settlement payments. Bayer reaffirmed its full-year 2026 outlook despite the mixed quarter.
The company did not disclose immediate market reactions in the release.