Bayer Expected to Report Lower Earnings With Roundup Settlement in Focus -- Earnings Preview

Dow Jones03-03

By Adria Calatayud

Bayer is scheduled to report results for the fourth quarter on Wednesday. Here is what you need to know.

SALES FORECAST: Analysts expect fourth-quarter sales at the German agriculture and pharmaceutical group to come in at 11.31 billion euros ($13.22 billion), according to consensus estimates compiled by Vara Research. For the same period of 2024, Bayer reported sales of 11.73 billion euros.

ADJUSTED EARNINGS FORECAST: Bayer is expected to report quarterly earnings before interest, taxes, depreciation and amortization before special items of 1.92 billion euros, according to the same consensus. The company posted an Ebitda before special items of 2.35 billion euros for the same period a year prior.

Shares in Bayer gained 31% during the fourth quarter and have continued to rise since the start of 2026.

WHAT TO WATCH:

--ROUNDUP LITIGATION: Bayer last month proposed a nationwide settlement aimed at resolving current and future claims that its flagship Roundup herbicide causes cancer, while continuing to pursue a case in the U.S. Supreme Court. Its plan included up to $7.25 billion in payments over 21 years, frontloaded to this year with about 5 billion euros in payouts. As a result, the company increased its litigation provisions to 11.8 billion euros from 7.8 billion euros, and said its cash flow would be negative this year. The prospect of a resolution to Roundup litigations in 2026 partly explains a recovery in Bayer's shares over the past year, as legal uncertainty rendered the company uninvestable for some investors, analysts at UBS wrote in a note to clients.

--OUTLOOK: The company is likely to guide for sales growth of up to 3% and Ebitda before special items to range from a 1% decline to a 4% rise, excluding currency movements, according to analysts at J.P. Morgan. Analysts expect Bayer's 2026 sales at 45.66 billion euros and Ebitda before special items at 9.65 billion euros, according to the Vara consensus.

Write to Adria Calatayud at adria.calatayud@wsj.com

(END) Dow Jones Newswires

March 03, 2026 07:09 ET (12:09 GMT)

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Bayer Expected to Report Lower Earnings With Roundup Settlement in Focus -- Earnings Preview

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