Bayer AG on Tuesday reported web revenue for the fourth quarter of 2022 that missed consensus expectations regardless of larger gross sales, and stated it expects earnings for 2023 to be decrease than the prior yr as inflation stays excessive.
The German agricultural and pharmaceutical firm
BAYN,
posted web revenue of 611 million euros ($648.3 million) for the ultimate quarter of 2022, down from EUR1.16 billion the yr prior, and lacking a company-provided consensus that had anticipated EUR981 million. Earnings earlier than particular objects had been up barely on yr to EUR2.46 billion from EUR2.40 billion the earlier yr.
Core earnings per share rose to EUR1.35 from EUR1.26 the earlier yr, although earnings per share dropped to EUR0.62 from EUR1.18, the corporate stated.
Gross sales rose to EUR12 billion within the quarter from EUR11.12 billion the earlier yr, a slight miss on a consensus forecast of EUR12.06 billion.
For the yr forward, Bayer stated it expects earnings to be decrease attributable to excessive inflation-driven price will increase, although gross sales are anticipated to develop, reaching a variety of EUR51 billion to EUR52 billion within the yr.
Ebitda earlier than particular objects is predicted to be within the vary of EUR12.5 billion to EUR13 billion.
Write to Cecilia Butini at cecilia.butini@wsj.com
