Unlock stock picks and a broker-level newsfeed that powers Wall Street.
Bayer Q4 Earnings In Line, Revenues Top on Nubeqa, Kerendia Sales

In This Article:

Bayer AG BAYRY reported fourth-quarter 2024 core earnings of 28 cents per American Depositary Receipt (ADR), in line with the Zacks Consensus Estimates. The company reported earnings of 50 cents per ADR in the year-ago quarter.

Core earnings of €1.05 per share deteriorated 43.2% year over year due to the decline in earnings in the Crop Science and Pharmaceuticals divisions.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Total sales in the reported quarter were $12.5 billion (€11.7 billion), down 1.1% on a reported basis. The reported figure beat the Zacks Consensus Estimate of $12.02 billion.

On a currency and portfolio-adjusted basis, sales increased 0.1% year over year.

Shares of Bayer have lost 14.3% in the past year against the industry’s growth of 2.4%.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

All growth rates mentioned below are on a year-over-year basis after adjusting for currency and portfolio changes.

BAYRY’s Q4 Results in Detail

Bayer reports under three segments, namely Crop Science, Pharmaceuticals and Consumer Health.

In the reported quarter, Crop Science sales decreased 2.3% to €5.4 billion. This business was under pressure in 2024 due to lower prices in the crop protection business, caused by competitive pricing pressure.

Within this segment, Herbicides business was down 7.7% as glyphosate-based product sales were adversely impacted by significantly lower market prices year on year, especially in Latin America.

Fungicide sales were down 6.4% due to price declines in Latin America and lower volumes in the Europe/Middle East/Africa region amid adverse weather and market conditions.

Corn Seed & Traits sales decreased 2.6% due to planted area declining in Latin and North America. Sales from the Soybean Seed & Traits business declined 0.4%. The Insecticides business grew 7.9% due to higher Movento sales in the Europe/Middle East/Africa region and a significant increase in volumes in Latin America. Sales at Cotton Seed were up 27% due to volume increases in the Asia/Pacific region on account of higher planted area. The Vegetable Seeds business was up 5.2% due to price hikes across all regions.

BAYRY’s revenues in the Pharmaceuticals segment increased 2.4% to €4.6 billion.  Nubeqa (for cancer) sales surged 73.4% to €443 million, recording gains in all regions and witnessing significant improvements in volumes, especially in the United States and EU. Kerendia sales surged 62%, mainly due to a substantial rise in volumes in the United States and business expansion in China.

However, sales of oral anticoagulant Xarelto, co-developed with J&J JNJ, decreased 18.6% to €848 million due to competitive pressure from generics, especially in Canada and Europe.