Bayer Lifts Forecast Amid Sustained Boom in Farming Prices

A Bayer AG logo hangs above visitors at the China International Import Expo (CIIE) in Shanghai, China, on Monday, Nov. 8, 2021. President Xi Jinping said at the opening of the CIIE on Thursday that China would continue to open up and seek cooperation in international organizations like the United Nations and World Trade Organization. Photographer: Qilai Shen/Bloomberg , Bloomberg

Tim Loh, Bloomberg News

Aug 4, 2022

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(Bloomberg) -- Bayer AG raised its earnings forecast for the year amid higher prices for agriculture seeds and chemicals including the controversial weedkiller Roundup.

The German company now expects core earnings per share of about 7.30 euros, up from the previous target of 7 euros, it said in a statement Thursday. Sales will probably reach as much as 48 billion euros ($48.8 billion), also above the prior target. 

Bayer’s crop science unit is now an earnings motor, boosted by higher prices for everything from corn seeds to the herbicide glyphosate. That’s improved the standing of Chief Executive Officer Werner Baumann, who’s been repeatedly rebuked for his controversial takeover of Monsanto. 

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