UPDATE 1-Bayer Q1 operating profit jumps 9% on boost from soy business
Corteva Inc CTVA | 0.00 |
Adds crop protection earnings in paragraph 4, outlook in last paragraph
FRANKFURT, May 12 (Reuters) - Bayer BAYGn.DE on Tuesday reported a 9% gain in first-quarter operating profit, well above market expectations and driven mainly by revenues from soy seeds at its agricultural business.
Quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, came in at 4.45 billion euros ($5.23 billion).
That surpassed average analyst expectations of 3.93 billion euros, based on a consensus posted on the company's website.
Earnings at the Crop Science jumped 17.9% to 3.0 billion euros, boosted by the resolution of a soy licensing dispute with major rival Corteva CTVA.N this year.
The group also confirmed its currency-adjusted guidance for 2026 results.
